Apple To Spend $430 Billion In The US And Create 20,000 Jobs By 2023

Apple said on Monday that it will spend $430 billion on US-based projects in the future, including the creation of 20,000 jobs over the next five years and a new campus in North Carolina.

Apple's original plan was to spend $350 billion, but the iPhone-maker is raising that by 20 percent over the next five years to reach $430 billion. Apple said "tens of billions" of this investment will span "next-generation silicon development" and "5G innovation."

"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," Apple CEO Tim Cook said in a statement.

In the release, Apple said it is the largest US taxpayer and has paid nearly $45 billion in US corporate income taxes in just the last five years.

In terms of the $430 billion, this money will include direct spending with US-based suppliers in addition to investment in data centers and capital expenditures across the US. The money also includes "dozens" of Apple TV+ productions across 20 states in the US.

Apple is also building a brand-new campus in North Carolina and is spending $1 billion to do it. This hub will create at least 3,000 jobs across machine learning, AI, and software engineering. Additionally, Apple said it is creating a $100 million fund for schools and the communities of the Raleigh-Durham area, while it will also spend over $110 million to help with local infrastructure projects such as roads, bridges, and schools.

Overall, Apple said it remains on track to create 20,000 new jobs in the US by 2023.

In terms of other investments across the US, Apple said it will grow its team in San Diego to more than 5,000 people by 2026, with its teams in Culver City aiming to reach 3,000 employees by 2026. In Colorado, Apple said it expects to have 700 employees at its engineering facility in Boulder by 2026, while Apple wants to add "several hundred" new jobs in the Boston metro area by the same time.

In Texas, Apple is building a new $1 billion campus in Austin that should open in 2022. And in Washington, Apple plans to add another 1,000 employees to its Leadership in Energy and Environment Design office, while Apple is building a new data center in Iowa that will create more than 500 construction and operations jobs.

Go to Apple's website to read more about the investments the company is making in US infrastructure.