Apple Announces It Will Invest $350B in US Economy, Create 20K Jobs — In Part Due to Tax Bill

[RBP]

Apple announced Wednesday it would “contribute” $350 billion to the economy through 2023 while also pledging to create 20,000 jobs, partially due to tax reform, CNBC reports.

The company said in a statement Wednesday it anticipates repatriation tax payments of about $38 billion in light of recent tax law changes.

It also expects to open a new campus at a location to be announced later this year. Apple employs 84,000 people in every state.

“We believe deeply in the power of American ingenuity, and we are focusing our investments in areas where we can have a direct impact on job creation and job preparedness,” CEO Tim Cook said. “We have a deep sense of responsibility to give back to our country and the people who help make our success possible.”

Apple statement: https://www.businesswire.com/news/home/20180117005748/en/

[redred]

Yet still make all it's stuff outside the US?

[Godfather]

Yet still make all it's stuff outside the US?

Meh, if you had to chose I don't think we (or the US in this case) really want the manufacturing jobs, you want the cushy, high paying tech sector ones far less likely to be replaced by AI/Machine Learning/Automation.

[The Monk]

They make sure they pay no tax anywhere else in the world if they can. They operate in various countries and make huge profits in those countries but fiddle their books to ensure they pay next to nothing in taxes.

[Teh One Who Knocks]

Meh, if you had to chose I don't think we (or the US in this case) really want the manufacturing jobs, you want the cushy, high paying tech sector ones far less likely to be replaced by AI/Machine Learning/Automation.

I don't think the United States (or Canada for that matter) would turn down a manufacturing facility as it would add many jobs to the local economy. The problem is, competing with the price of labor in places like China and Mexico where thay are paid a fraction of what US and Canadian workers make.

[RBP]

They make sure they pay no tax anywhere else in the world if they can. They operate in various countries and make huge profits in those countries but fiddle their books to ensure they pay next to nothing in taxes.

One HUGE and probably overlooked part of this is Apple repatriating overseas funds, which is now possible because of the lowered tax rate (and was a goal of the change). They expect to make a tax payment of $38 Billion on the repatriated funds. It's in the link in the OP.

[PorkChopSandwiches]

WTF, this is a direct result of Trumps tax changes, they are paying 38 BILLION in taxes, they are investing 300 BILLION and crating 20,000 US jobs. WHat is hard to understand

[Godfather]

I don't think the United States (or Canada for that matter) would turn down a manufacturing facility as it would add many jobs to the local economy. The problem is, competing with the price of labor in places like China and Mexico where thay are paid a fraction of what US and Canadian workers make.

Oh definitely, I mean we'd take it - I just meant if you had to chose :lol: Those plants in China are a death trap. I just saw a headline 90% of the workers at Apples major factory have been hospitalized because of their work. The empathetic and humanitarian side of me says bring it back here and do it right until those countries get through their industrial revolution... but I also know how mutually beneficial it is for both our economy and theirs to leave these plants there. It's a double edged sword I guess.

[Hikari Kisugi]

WTF, this is a direct result of Trumps tax changes, they are paying 38 BILLION in taxes, they are investing 300 BILLION and crating 20,000 US jobs. WHat is hard to understand

The hard to understand bit is that it is apple.
They will have muddied waters and part of this 'investment' is the relocation of the billions of offshore unpaid tax profits, which they will repatriate.
Its apple, its mostly bullshit.

Although the repatriation is due to the one time offer of lower corporate tax than anywhere with an actual rate.
That is a reasonably sensible idea from Trumpys team, get the funds back on home soil.
The bit they are keeping abroad is to pay the lawyers and the taxbills that will be forced upon them internationally for all of their previous tax dodging.

Other supercorps will follow suit with this one time offer.
Some of this job creation and investment will actually be the acquisition of other companies.
Bringing smaller houses in house to acquire patents, and thus their staff become apple staff.
Job relocation rather than creation.

It is a nice sounding announcement, but like anything apple, I'd wait until you see the actual results.