Details of the New Apple Campus
While the company has several other plans to create jobs and invest heavily in the US market, the largest portion of its recent announcement has been its $1 billion business campus and engineering hub that will be located in the Raleigh-Durham area of North Carolina. The investment from the company will help create at least 3,000 new jobs in the region in fields such as machine learning, artificial intelligence, software engineering, and other technology.
More than simply creating the campus, Apple will also be investing heavily in the Raleigh-Durham area. In fact, the company will be establishing a $100 million fund to help support schools and community initiatives near the city and around the state. The company will also be contributing $110 million in infrastructure across all 80 counties of North Carolina. When considering these financial contributions alongside the creation of new jobs, the business will have a significant effect on the local economy within the state of North Carolina.
In fact, the tech company is expected to generate over $1.5 billion in economic benefit to North Carolina every year. The new Apple campus is only one part of a much larger investment across the US over the next five years.
Other Investments from the Business
Alongside the $1 billion North Carolina campus, Apple has committed to invest $430 billion in the US over the course of the next five years. This investment will create over 20,000 jobs. This is an expansion on the previous commitment of $350 billion set in 2018. The newest commitment is a 20% increase from the prior goal and will generate billions of dollars of economic benefit to the nine states where the investment will be focused. The hiring of new employees will largely be in California, Colorado, Massachusetts, Texas, Washington, and Iowa.
Apple will also be refocusing on American manufacturing, doing business with over 9,000 different suppliers across all 50 states. Significant money will also be spent toward investing in renewable energy and sustainable business practices.
When commenting on the newest investment commitments, CEO of Apple Tim Cook said, “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. We’re creating jobs in cutting-edge fields — from 5G to silicon engineering to artificial intelligence — investing in the next generation of innovative new businesses, and in all our work, building toward a greener and more equitable future.”
About the Author
Tom Price is a writer focusing on entertainment and sports features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.