Apple to put $350 B back into US economy - including domestic manufacturing
Apple announced Wednesday that 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.
According to 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.
Some of the new investment will come from repatriation taxes that Apple estimates to be roughly $38 billion, per the recent changes to the tax law passed late last year. As part of that reparation, the company will also bring $252 billion in cash back to the US. Apple also expects to invest over $30 billion in capital expenditures in the US in the aforementioned five year time span, and is also increasing its $1 billion US advanced manufacturing fund it announced last year to $5 billion.