by BERNAMA / pic by BLOOMBERG

WASHINGTON – Apple has announced its plans to invest US$430 billion in the US economy in the next five years and create 20,000 jobs, the company said in a release on Monday, according to Sputnik.

“Apple today announced an acceleration of its US investments, with plans to make new contributions of more than US$430 billion and add 20,000 new jobs across the country over the next five years,” the release said. “This includes tens of billions of dollars for next-generation silicon development and 5G innovation across nine US states.”

Apple is set to raise the level of its American investments by 20 per cent as the company spent way over US$350 billion according to the five-year plan set in 2018, the release noted.

As part of the new plan, the tech giant plans to invest US$1 billion in a new North Carolina campus and engineering hub, creating at least 3,000 new jobs in machine learning, artificial intelligence, and software engineering.

Apple will also expand its teams in California, Colorado, Massachusetts, Texas, Washington, and Iowa over the next years, the release also said.

According to the release, Apple supports more than 2.7 million jobs in the US and continues to be the largest taxpayer in the country with nearly US$45 billion paid in domestic corporate income taxes over the past five years alone.