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.

More news: More Rohingya flee to Bangladesh despite Burma repatriation deal
More news: Apple to make $350B contribution to United States economy over 5 years
More news: Nine more now make it to smart cities list

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.

Related Articles

  • Hot Tickers: General Electric Company (GE), Bank of America Corporation (BAC)

    Hirtle Callaghan Com Limited Liability Company has invested 0% of its portfolio in American Electric Power Company, Inc. Looking at the stock's movement on the chart, American Electric Power Company, Inc. recorded a 52-week high of $78.07.
    Former Egyptian Army chief of staff announces presidential bid

    Former Egyptian Army chief of staff announces presidential bid

    Egyptian rights and opposition lawyer Khaled Ali announced in November a year ago his intention to join the presidential race. However, Shafiq came back to Egypt last December and announced his withdrawal from the presidential race earlier this month.
    OnePlus Authorized Store opens today in Mumbai

    OnePlus Authorized Store opens today in Mumbai

    As part of launch offers, OnePlus has tied-up with Zomato food service app to give limited period discounts to OnePlus users. Meanwhile, Amazon is offering zero-cost EMI and cashback worth Rs 2,000 to all customers, on the exchange of any old device.
  • Can Steve Bannon get away with not answering congressional questioning about Russian Federation ?

    Can Steve Bannon get away with not answering congressional questioning about Russian Federation ?

    Bannon testified before Congress in a closed-door meeting this week to discuss alleged "Russian meddling" in the U.S. elections. Later in the week, the panel will hear from former Trump campaign manager Corey Lewandowski.
    Birth Control Pills May Prevent Some Cancers, Study Finds

    Birth Control Pills May Prevent Some Cancers, Study Finds

    For women who do not have the genes, the risk drops to just 2 per cent for ovarian cancer and 12 per cent for breast cancer. The researchers used mathematical models to compare costs and health benefits of different strategies for genetic testing.
    Trump could live 200 years if…, says White House physician

    Trump could live 200 years if…, says White House physician

    The doctor said he is going to try to put the president on a diet but joked that the commander-in-chief might just live to be 200. The cognitive test taken by Donald Trump last week is not a comprehensive psychological evaluation, its creator has said.
  • What Would Martin Luther King say About Trump?

    What Would Martin Luther King say About Trump?

    Jody Rich , the Hurricane High School principal, released a video statement in which he addressed and condemned the incident. Terre Haute, IN - The weather earlier in the week may have canceled school for some on Martin Luther King Jr .
    Alex Sanchez Axed from Arsenal First-team Training

    Alex Sanchez Axed from Arsenal First-team Training

    Now he seems to be on the cusp of a move to the north-west and Xhaka praised Sanchez for his influence on the Arsenal squad.
    War rages in Turkish media in anticipation of military operation

    War rages in Turkish media in anticipation of military operation

    Russian Federation controls the skies over the area that Turkey is preparing to attack and could potentially down Turkish planes. Reported US-initiated Syria border force is "misportrayed, misdescribed and some people misspoke", top US diplomat says.
  • Concerns Over President's Health, Many Say Trump's Weight is Fake News

    Concerns Over President's Health, Many Say Trump's Weight is Fake News

    But the Navy and Marines veteran still managed to raise some eyebrows with comments about Trump's " incredible genes ". Then, you could be in with a chance of passing the cognitive test that Donald Trump took recently.
    City Hope to Bounce Back with Newcastle Visit after Anfield Slip

    City Hope to Bounce Back with Newcastle Visit after Anfield Slip

    However, having been 4-1 up with seven minutes to go, Liverpool conceded twice and faced an unnecessarily nervous finish. Sumpter's Soccerbot reads current odds and team performance data, calculates key metrics and predicts upcoming matches.
    Manchester United 3-0 Stoke City: 5 Talking Points

    Manchester United 3-0 Stoke City: 5 Talking Points

    Manchester United manager Jose Mourinho hailed Paul Pogba and said his team's profile was changing to suit the midfielder. Paul Lambert was at Old Trafford having been announced as Stoke's new manager earlier in the day.