Apr 26, 2021
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About this Deal
Apple on Monday laid out its plans for US investments over the next five years, including contributions of more than $430 billion, a new campus in North Carolina and 20,000 new jobs across the country. The iPhone maker said its latest commitments also include "tens of billions of dollars" for the development of next-generation silicon and 5G technology.
"At this moment of recovery and rebuilding, Apple is doubling down on our commitment to US innovation and manufacturing with a generational investment reaching communities across all 50 states," said Apple CEO Tim Cook in a release. "We're creating jobs in cutting-edge fields — from 5G to silicon engineering to artificial intelligence — investing in the next generation of innovative new businesses, and in all our work, building toward a greener and more equitable future."
Apple's job creation and investment plans come as the company on Wednesday is set to reveal its fiscal second-quarter financial results. In January, Apple announced its largest corporate profits and revenue ever for the three months that make up its fiscal first quarter, which included the launch of the iPhone 12 lineup and the holiday shopping season. Apple saw revenue above $100 billion for the first time, with its growth surging as people turned to technology during the pandemic.
Apple will invest over $1 billion in North Carolina and start construction on a new campus in the Research Triangle area between the cities of Raleigh, Durham and Chapel Hill. The campus will support at least 3,000 new jobs in machine learning, artificial intelligence, software engineering and other fields, the company said.
The tech giant noted that its pledge Monday to create 20,000 jobs over the next five years comes in addition to a 2018 plan to add 20,000 jobs by 2023, a goal it expects to meet. Apple said it plans to expand its teams in California, Colorado, Massachusetts, Texas and Washington.
Apple also touted its environmental and clean energy efforts, including a massive solar farm project in California that it announced last month.