Apple Is Investing $500 Billion in These States Over the Next 4 Years
Apple is the world's third-largest company, with a market capitalization of around $3 trillion, so it came as no surprise when CEO Tim Cook announced that Apple would spend and invest a significant amount of money in the U.S. over the next four years. It was the amount of that commitment — $500 billion and the creation of 20,000 jobs — that made headlines.
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The February announcement described new projects and expansions for facilities in nine states.
These states stand to benefit from Apple's investment:
Arizona
California
Iowa
Michigan
Nevada
North Carolina
Oregon
Texas
Washington
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Apple plans to divide its $500 billion investment among new projects and expansion of existing projects.
Apple has selected Houston as the site of a new 250,000-square-foot manufacturing facility that will make energy-efficient servers for Apple Intelligence, the company's personal intelligence system. The servers are also integral to Apple's Private Cloud Compute security architecture, which is powered by AI processing.
Although Apple will provide the infrastructure for server production, the servers are manufactured by Foxconn, a Taiwanese electronics company, according to a recent report from The New York Times.
The plant will not build Apple's consumer products, which are primarily manufactured overseas.
TSMC Fab 21, a fabrication plant in Arizona that already produces silicon for Apple, will see more business as a result of an increase in Apple's U.S. Advanced Manufacturing Fund. The $5 billion fund is doubling in size to $10 billion.
Detroit will be home to a new academy Apple plans to build 'to train the next generation of U.S. manufacturers,' according to the statement.
In addition to offering training and skills development, the Apple Manufacturing Academy will serve as a resource for companies looking to implement AI and smart manufacturing.
Apple operates data centers throughout the U.S. and overseas. Its increased server production will allow the company to continue expanding its data center capacity in Arizona, Iowa, Nevada, North Carolina and Oregon.
Seattle is among the sites expected to see some of the 20,000 new jobs Apple plans to create. Axios reported in February that Apple has already doubled the size of its Seattle team over the past three years.
Apple is actively preparing students for careers in hardware engineering and silicon chip design through its New Silicon Initiative, which works with eight schools throughout the U.S. As part of its expansion, the program will collaborate with UCLA's Center for Education of Microchip Designers.
While the $500 billion spending commitment is Apple's largest, it's not the only major commitment it has made in recent years.
In 2018, during President Donald Trump's first term, the company said it would contribute $350 billion to the U.S. economy and create 20,000 jobs in the coming five years. As part of that commitment, Apple created the $5 billion Advanced Manufacturing Fund that the new commitment is expanding.
In April 2021, shortly after former President Joe Biden took office, Apple made a similar commitment. In addition to pledging $430 billion in U.S. spending, including for a North Carolina campus the company later put on hold, Apple said it was on target to meet its 2018 hiring goal by 2023 and would add an additional 20,000 jobs by 2026.
It's unclear whether Apple has met its 2018 or 2021 hiring and spending goals, or whether the $500 billion commitment consists solely of new U.S. investment.
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