Apple plans to create 20000 jobs in the US

Apple plans to create 20000 jobs in the US

"We believe deeply in the power of American ingenuity, and we are focusing our investments in areas where we can have a direct impact on job creation and job preparedness", CEO Tim Cook said in a statement.

Revealing the news in a press release entitled 'Apple accelerates United States investment and job creation', the scheme will also look to create a brand new campus - powered entirely by "green energy" - to house the 20,000 or so fresh workforce in, all by 2023. During the announcement, Apple promised a new campus, and yes, building a campus facility can be a huge undertaking that takes years to complete and requires a lot of workers, as demonstrated for the company's recently opened Apple Park headquarters in Cupertino, Calif.

An Apple spokesman declined to comment about the company's plans beyond what was described in the press release.

Indeed, the move is politically tinged. Apple's direct contribution to the USA economy will be more than $350 billion over the next five years, not including Apple's tax payments, tax revenues generated from employees' wages and the sale of Apple products.

Apple is planning to build a new corporate campus and hire 20,000 US workers in an expansion driven in part by a tax cut that will enable the iPhone maker to bring an estimated $245 billion back to its home country.

However, chief strategy officer of GBH Insights, Daniel Ives, told Mercury News,"It would have been tax suicide if they brought it back before the reform law".

GBH Insights believes Apple ultimately could use repatriated cash to acquire other companies, Ives said.

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More news: Apple to make $350B contribution to United States economy over 5 years

On Wednesday, Cook told ABC News that the company was going to bring back "the vast majority" of its cash.

"There was an ironclad reason why large-capital tech companies like Apple could not bring (overseas cash) home", said Ives.

Apple has earmarked about $75 billion of the money now overseas to finance $350 billion in spending during the next five years. And that amount, said Apple, doesn't even include its "ongoing tax payments, the tax revenues generated from employees' wages and the sale of Apple products". Apple said it is also breaking ground Wednesday on a new facility in downtown Reno, which will support its existing Nevada facilities.

Furthermore, out of the 2 million jobs that Apple claims responsibility for, a quarter of them are not direct employments but indirect jobs through Apple's USA -based suppliers.

The new law lowers the corporate tax rate to 21 percent on US profits while providing a sharper discount on overseas cash this year.

However, most of the US$350 billion reflects money that Apple planned to spend with its suppliers and manufacturers in the USA anyway, even if corporate taxes had remained at the old 35 percent rate. But Wednesday's announcement was clearly created to be a sign of its allegiance to the U.S., Apple's most lucrative market.

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