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

Published: 17 Jan, 2018

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Updated: 21 Nov, 2022

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1 min read

https://www.youtube.com/watch?v=vj4xL-mTE2Y

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.

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