Breaking News

ASUSTOR 30 TB Ironwolf Pro Now Officially Supported ASUS Announces ExpertCenter P500 SFF Lexar Launches the NM990 PCIe 5.0 SSD DJI Agras T100, T70P and T25P Launches Globally Sony Introduces the RX1R III

logo

  • Share Us
    • Facebook
    • Twitter
  • Home
  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map

Search form

Apple Accelerates US investment, Plans to Pay $38 billion in Foreign Cash Taxes

Apple Accelerates US investment, Plans to Pay $38 billion in Foreign Cash Taxes

Enterprise & IT Jan 17,2018 0

Apple will open a second U.S. campus as part of a 5-year, $30 billion U.S. investment plan and will make about $38 billion in one-time tax payments on its overseas cash.

Combining new investments and Apple's current pace of spending with domestic suppliers and manufacturers - an estimated $55 billion for 2018 - Apple's direct contribution to the US economy will be more than $350 billion over the next five years, not including Apple's ongoing tax payments, the tax revenues generated from employees' wages and the sale of Apple products.

Planned capital expenditures in the US, investments in American manufacturing over five years and a record tax payment upon repatriation of overseas profits will account for approximately $75 billion of Apple's direct contribution.

Apple, however, did not say how much of its $252.3 billion in cash abroad would bring to the United States, after the U.S. tax changes cut costs on bringing funds back from overseas. It also did not say whether the spending plan was driven by the new U.S. tax law.

The iPhone maker, said it plans a wave of investing and hiring in the United States and will create 20,000 jobs through hiring at its existing campus and the new one. The company's new campus will initially house technical support for customers. Apple will announce the location later this year.

The company already employs 84,000 people in all 50 states.

Today, Apple is also breaking ground on a new facility in downtown Reno, which will support its existing Nevada facilities. All of Apple's US facilities, including offices, retail stores and data centers, are powered by 100 percent renewable energy sources like solar, wind and micro-hydro power, which Apple generates or purchases from local projects. The new campus will also be powered entirely by green energy.

Apple also plans to accelerate its efforts across the US in support of coding education as well as programs focused on Science, Technology, Engineering, Arts and Math (STEAM).

Tags: Apple
Previous Post
Samsung Starts Producing First 16-Gigabit GDDR6
Next Post
Everspin Begins Volume Production of 40nm STT-MRAM

Related Posts

  • Apple unveils Mac Studio featuring M4 Max and new M3 Ultra

  • Apple introduces iPad Air with powerful M3 chip and new Magic Keyboard

  • Apple debuts iPhone 16e

  • Apple introduces M4 Pro and M4 Max and new MacBook Pro

  • Apple unveils the new iMac with M4, supercharged by Apple Intelligence and available in fresh colors

  • Apple introduces powerful new iPad mini built for Apple Intelligence

  • Apple expands Self Service Repair Diagnostics support to Europe

  • Canon developing new RF-S 7.8mm F4 STM DUAL lens for EOS R7 camera for recording spatial video for Apple Vision Pro

Latest News

ASUSTOR 30 TB Ironwolf Pro Now Officially Supported
Enterprise & IT

ASUSTOR 30 TB Ironwolf Pro Now Officially Supported

ASUS Announces ExpertCenter P500 SFF
Enterprise & IT

ASUS Announces ExpertCenter P500 SFF

Lexar Launches the NM990 PCIe 5.0 SSD
PC components

Lexar Launches the NM990 PCIe 5.0 SSD

DJI Agras T100, T70P and T25P Launches Globally
Drones

DJI Agras T100, T70P and T25P Launches Globally

Sony Introduces the RX1R III
Cameras

Sony Introduces the RX1R III

Popular Reviews

be quiet! Light Loop 360mm

be quiet! Light Loop 360mm

be quiet! Dark Mount Keyboard

be quiet! Dark Mount Keyboard

be quiet! Light Mount Keyboard

be quiet! Light Mount Keyboard

Noctua NH-D15 G2

Noctua NH-D15 G2

Soundpeats Pop Clip

Soundpeats Pop Clip

be quiet! Light Base 600 LX

be quiet! Light Base 600 LX

Crucial T705 2TB NVME White

Crucial T705 2TB NVME White

be quiet! Pure Base 501

be quiet! Pure Base 501

Main menu

  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map
  • About
  • Privacy
  • Contact Us
  • Promotional Opportunities @ CdrInfo.com
  • Advertise on out site
  • Submit your News to our site
  • RSS Feed