On Monday, Apple announced plans to invest more than $430 billion in the U.S. and create more than 20,000 new jobs over the next five years. The size of the planned investment is roughly 20% higher than the company’s original five-year goal of $350 billion that it set in 2018.
The tech giant said it plans to accelerate its U.S. investments by adding to its teams , production and infrastructure focused on next-generation silicon development and 5G innovation across nine U.S. states, including California, Colorado, Massachusetts, Texas, Washington and Iowa.
“At this moment of recovery and rebuilding, Apple is doubling down on our commitment to U.S. innovation and manufacturing with a generational investment reaching communities across all 50 states,” Apple CEO Tim Cook said in a statement. “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.”