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Apple to Contribute $350M to U.S. Economy Over Next 5 Years

Apple PledgeApple has announced that it will be pouring $350 million in the U.S. economy in the next five years.

In a press release, the company said the new set of investments is meant “to build on its commitment to support the American economy and its workforce.”

3 Areas of Investments

The investments would be “concentrated in three areas where Apple has had the greatest impact on job creation.”

Those three areas are direct employment by Apple, spending, and investment with Apple’s local suppliers and manufacturers, and fueling the app system which the company created with the iPhone and the App Store.

Apple already had created and supported over 2 million jobs across the U.S., and the company said it expects “to generate even more jobs as a result of the new set of investments.”

(Read: Apple Gets Rare Downgrade Because Analyst Believes iPhone Cycle Is Just ‘Good, Not Great’)

Apple CEO Tim Cook said: “Apple is a success story that could only have happened in America, and we are proud to build on our long history of support for the US economy.”

Deep Sense of Responsibility to the U.S.

He also said they believe in the power of American ingenuity, and the company is focusing investments in areas where it can have a direct impact on job creation and job preparedness.

We have a deep sense of responsibility to give back to our country and the people who help make our success possible,” Cook added.

Meanwhile, Apple said in the same press release that it is planning a new campus in the U.S. and would be paying $38 billion in foreign cash taxes.

(Read: Apple Plans New U.S. Campus, to Pay $38 Billion in Foreign Cash Taxes)

What’s Next?

Apple announced that it would contribute $350 million to the American economy in the next five years.

What can you say about the company’s initiative? Share your thoughts by commenting below.

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