By Okon Ekpenyong

Apple’s CEO, Tim Cook, announced that the company will invest about a $500 billion investment plan over the next four years, showcasing Apple’s commitment to creating jobs in the United States.

This considerable investment is expected to generate nearly 2.9 million jobs. Within the upcoming four years, Apple will create more than 20,000 jobs, and 24 manufacturing plants will be set up to produce silicon for Apple products, resulting in a noteworthy enhancement to the job market.

While Apple has no factories directly located in Ohio, a Columbus Dispatch report from March 2019 indicated that the state was a second contender for a $1 billion Apple campus, ultimately awarded to Austin, Texas. Moreover, this new investment will not prioritize Ohio. Instead, locations such as Michigan, the Detroit area, Texas, California, Arizona, Nevada, Iowa, Oregon, North Carolina, and Washington are where the company intends to launch a $10 billion advanced manufacturing fund, create a manufacturing academy, and accelerate investments in AI and silicon engineering, as stated in Apple’s press release.

President Trump commended Apple for making such a substantial announcement, predicting that there will be a surge of chip manufacturers and various automotive companies entering the industry, with some businesses ceasing production in Mexico to return to the United States.

The announcement coincides with the day that would have marked the 70th birthday of Apple’s founder, Steve Jobs. On the CEO’s Twitter page, he says the co-founder “viewed the world as it was and how it could be. “His vision inspires us to expand boundaries and shape the future. Thus, in revealing the most significant investment in the company’s history today, Cook also honors Steve Jobs’s enduring legacy and impact.

Tim Cook was among the executives from Fortune 500 companies, including Amazon’s Jeff Bezos, Meta Platforms (Facebook) CEO Mark Zuckerberg, Alphabet CEO Sundar Pichai, and Tesla’s Elon Musk, present at President Trump’s second inauguration. Each of these executives has committed to working with the administration to invest billions into improving and supporting American businesses by constructing new manufacturing facilities, increasing research and development investments nationwide, and doubling the funds allocated to advanced manufacturing within their companies.

As noted in a June 2024 article from Forbes Magazine, Apple ranked 12th in the 22nd edition of the Global 2000 list, showcasing the most significant companies globally. The company reported revenue of $386.6 billion, profits of $100.4 billion, assets totaling $337.4 billion, and a market capitalization of $2,911.5 billion. Samsung, a key competitor of Apple based in South Korea, landed 21st on the list with annual sales of $202.4 billion.

Apple says collaborating with other US-based suppliers, manufacturers, and developers is key to this initiative and investment. “This strategic partnership is essential for creating more jobs, especially within the growing iOS app economy,” Apple says. Lastly, such an investment will help further spotlight Apple’s New Silicon facilities. This division helps provide an educational training program that prepares students for chip design and hardware engineering careers. 

Support the New Americans magazine to continue to serve our community with precise news that affect the new American, immigrant and refugee community. https://paypal.com/donate/?hosted_button_id=8LHFS78NRNJJY&source=url