Apple has pledged to make a five year investment of $350 billion to boost the U.S economy.
However, it is ready to commit $55 billion this year and plans on adding 20,000 new jobs over that time frame.
Following in the footsteps of Amazon, it also plans to add a new campus somewhere in the U.S. this year.
According to Apple, the $350 billion, does not include ongoing tax payments, the tax revenues generated from employees’ wages or the sale of Apple products.
It will, however, involve taxes on repatriation of some of Apple’s cash reserves, which are currently in the $256 billion range.
It anticipates $38 billion coming from repatriation taxes, but much of it will be capital expenditures on the part of the company.
There will be $30 billion, which will help fund a number of projects, including building the new campus.
The plan is for this to initially house technical support for customers.
Apple says it will announce the location of this new facility later this year, with a plan to make the building run on 100 percent renewable energy sources.
It will also invest $10 billion of that money in new data centers in the U.S adding to the seven already in operation.
There is also a new one coming in Iowa and they broke ground on one in Reno just today, in addition to data centers already in operation in North Carolina, Oregon, Nevada and Arizona.
