Apple plans to invest $430 billion in the US over the next five years, it announced Monday.
It said that this would create around 20,000 new jobs in silicon engineering, 5G, artificial intelligence, and manufacturing, it announced Monday.
The iPhone maker said the investment would include direct spend with more than 9,000 American suppliers and companies, alongside data-center investments and capital expenditures.
It also said it would make “dozens” of Apple TV+ productions across 20 states.
Apple said it planned to invest more than $1 billion in North Carolina, including building a new campus and engineering hub that would create at least 3,000 new jobs.
Alongside other investments in the state, including funding for schools, infrastructure, and community initiatives, Apple said its investments would generate more than $1.5 billion in economic benefits annually for North Carolina.
The investment, and the number of jobs created, are higher than Apple committed to in 2018, when it said it would spend $350 billion over five years.
“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.
This is a developing story.