Apple said Wednesday it will spend $350 billion in development and create 20,000 jobs to the United States in the next five years, following the recent corporate tax reforms and a greater push to increase manufacturing in the U.S.

It will also build a new campus – focused on technical support for customers – in a location to be announced later this year, the company said.

Apple will make payments of around $38 billion in tax money from its profits that it currently holds overseas – a decision that comes after a Trump administration tax plan changed how foreign profits brought back to the United States are taxed. Apple has for years lobbied for corporate tax reform.

Apple will also spend $10 billion on building data centers, $20 billion in additional infrastructure investment and is increasing the size of a previously announced manufacturing fund to support its suppliers. Further investment will go into education initiatives.

The company also outlined plans to build several new data centers in the U.S. and said it broke ground on a new facility Wednesday in Reno, Nevada.

“We believe deeply in the power of American ingenuity, and we are focusing our investments in areas where we can have a direct impact on job creation and job preparedness,” said Apple chief executive Tim Cook in a statement. “We have a deep sense of responsibility to give back to our country and the people who help make our success possible.”


Only subscribers are eligible to post comments. Please subscribe or login first for digital access. Here’s why.

Use the form below to reset your password. When you've submitted your account email, we will send an email with a reset code.