Apple has announced $430 billion of investment in innovation across all 50 states, including funding a new North Carolina campus.
Just over halfway through the five-year plan of US investments it announced in 2018, Apple is now to increase its targets. Rather than $350 billion by 2023, the company now plans to invest over $430 in the next five years. Aimed at supporting American innovation, it’s a 20% increase which includes money for 5G and “next generation” silicon.
“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,” 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,” he continued.
Apple is committing over $1 billion to the construction of a new campus in North Carolina. To be based in the state’s Research Triangle area, it will create 3,000 jobs, and concentrate on machine learning, artificial intelligence, and software engineering.
Alongside the campus development, Apple is to contribute over $110 million in infrastructure spending for 80 counties in the state. Apple claims that its investment in broadband, schools, and roads will translate to $1.5 billion in economic benefits for North Carolina every year.
Highlights of investment in other states include Texas, where a new Austin campus is already underway. Similarly, Iowa is to get a new data center, which is currently being designed. The company’s San Diego campus team is expected to grow by 5,000 employees by 2026, a 500 percent increase from a goal set in 2018.
Apple also plans to grow its presence in Culver City, where the company’s Apple TV+ division is housed, to more than 3,000 employees by 2026. Apple further touts the creation of thousands of jobs across “dozens” of Apple TV+ productions in 20 states.
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