Yahoo Finance Apple will build another US campus in North Carolina
The new site is part of a five-year $430 billion commitment to the US economy.
Between the disruption to foreign manufacturing and its planned German silicon facility, much of the recent focus has been on Apple's overseas supply chain. But, amid a push to re-start the US economy, Apple is now highlighting its domestic contributions. The iPhone-maker announced today that it will open a new campus and engineering hub in North Carolina, as part of a five-year plan to pour $430 billion into the US economy.
Apple will spend $1 billion on the new site located in the Research Triangle area, home to a trifecta of higher-education institutions including North Carolina State University, Duke University and the University of North Carolina. The project will see Apple employ 3,000 people in machine learning, artificial intelligence and software engineering posts. You can expect to see a lot more vacancies popping up on Apple's careers site in general, with the company planning to create a total of 20,000 new jobs over five years.
The investment also encompasses "tens of billions of dollars" for silicon engineering and 5G technology — deemed as crucial to its new and upcoming devices, and reported ventures like electric vehicles — across nine states. They include California, Colorado, Maine, Massachusetts, New York, Oregon, Texas, Vermont and Washington. Ultimately, the company states that the $430 billion investment will filter through to all 50 states as it eyes a supply chain composed of more than 9,000 US companies large and small.
Along with its recently announced Munich chip site, the emphasis on silicon will likely be viewed as a reaction to the global semiconductor shortage. Apple has reportedly delayed the production of some MacBook and iPad models due to the shortfall, which has affected the electronics and automotive industries.
The tech company previously pledged a multi-year total of $350 billion for the US economy. Today, Apple said it had outpaced that target, originally set in 2018, and is on track to create 20,000 new jobs by 2023. The announcement follows a record-breaking fiscal first quarter for the company that saw it generate $111.4 billion in revenue on the heels of its first 5G iPhones. Apple is gearing up to announce its second quarter results on Wednesday, April 28th, and recently unveiled a raft of new devices at its Spring Loaded event.
