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Second Bite At The Apple: Tech Giant Promises $350 Billion Investment in US Economy

Author: Jeff Powers
Created: 17 January, 2018
Updated: 21 November, 2022
1 min read


Huge news from tech giant Apple. The company has announced it will be contributing $350 billion into the US economy over the next five years, combining both new investments and its existing spending with domestic companies for supply and manufacturing.

Apple will pay $38 billion in taxes on the cash it has stashed overseas as it looks to repatriate the money back into the U.S. The company currently has approximately $250 billion in cash overseas.

Apple also announced plans to create 20,000 jobs and build additional campuses as part of a plan to invest $350 billion in the U.S. over the next five years.

The company’s press release, the investments will concentrate on three areas: direct employment by Apple, spending and investment with Apple’s domestic suppliers and manufacturers, and the digital App Store economy.