Apple has announced a new set of investments to support the American economy and its workforce.
The investments are aimed at three areas:
- Direct employment by Apple.
- Spending and investment with Apple’s domestic suppliers and manufacturers.
- Fueling the fast-growing app economy.
Apple is responsible for creating and supporting over 2 million jobs across the US and expects to generate more jobs as a result of its new initiatives, it said.
Apple’s direct contribution to the US economy will be over $350 billion over the next five years, and this does not include Apple’s ongoing tax payments, the tax revenues generated from employees’ wages, and the sale of Apple products.
Capital expenditures, investments in manufacturing, and tax on repatriation of overseas profits will account for approximately $75 billion.