RALIT, AP (AP) – Apple is expanding spending in the United States on Monday announced plans to build its first East Coast University in North Carolina.
The iPhone maker is boosting US spending by $ 430 billion over the next five years, doubling its lease plans by 20,000 jobs. It said it would spend $ 350 billion in January 2018, shortly after Congress approved a major tax overhaul that cut corporate taxes.
Apple says it is stepping up investment as the United States begins to rebuild from the COVID-19 epidemic. For years, the company has emphasized its role in the US economy to help criticize its reliance on foreign factories, often taking advantage of local tax breaks.
Apple is expected to invest $ 1 billion in North Carolina, and the university, located in the Raleigh-Duram County Research Triangle Park, plans to bring at least 3,000 new jobs to the state in machine learning, artificial intelligence and software engineering. Workers will have an average annual salary of about $ 185,000.
Democratic Gov. Roy Cooper has said that once Apple creates jobs, the tech giant will be eligible for the incentive, which it considers “transformational.” Apple is expected to receive nearly $ 846 million in tax compensation over the next 39 years. Cooper believes Apple’s announcement will encourage other companies to relocate to North Carolina to have a positive impact on local businesses in the Rally area.
“Once this university is operational, it is expected to generate more than $ 1.5 billion a year in economic impact for our country,” Cooper told a news conference Monday morning.
The construction schedule is not yet clear, although government officials said Apple had told them it wanted to revitalize the new facility as soon as possible.
“This is a significant event that strengthens our position as a technology hub,” said Michael Hale, Wake County Executive Director of Economic Development.
Apple also plans to raise $ 100 million to fund schools in the Raleigh-Durham area to support community initiatives and invest more than $ 110 million in North Carolina infrastructure.
The company is also expanding its teams in Colorado, Massachusetts, Texas, Washington, New York, California and other states.
Secretary of Commerce Machel Sanders said the 3,000 positions created by Apple would add to the 1,100 employees in the state.
In 2018, Apple introduced plans to expand operations in Texas. Cooper said he believes the company’s decision not to move to North Carolina at the time may be due in part to the passage of a law in 2016 that required people to use their designated toilet at birth. A year later, the law was partially repealed.
The governor said he had a private conversation with Apple CEO Tim Cook on Saturday, who explained that he “feels good about our diversity, inclusion and anti-discrimination landscape.”
“He feels good about this project, they are as excited as we are,” Cooper said.