Apple is expanding spending in the U.S. and announced plans Monday to build its first East Coast campus, in North Carolina.
The iPhone maker is boosting U.S. spending to $430 billion over the next five years and doubling its hiring plans by 20,000 jobs. It had said it would spend $350 billion in January 2018, just after Congress approved a big tax overhaul that cut corporate taxes.
Apple says it is stepping up investment as the U.S. begins rebuilding from the COVID-19 pandemic. The company for years has emphasized its role in the U.S. economy to help counter criticism about its reliance on overseas factories, often taking advantage of local tax breaks.
Source: Associated Press – SOPHIA TULP