Apple says it will invest $500 billion in U.S. over the next 4 years and hire 20,000 workers
Apple plans to invest $500 billion domestically over the next four years and hire 20,000 additional workers in the U.S., the iPhone maker announced on Monday.
The company’s plans include building a new 250,000 square-foot manufacturing plant in Houston, set to open in 2026, that will make servers to power Apple’s AI services. Apple also said it would establish an educational academy in Michigan focused on manufacturing and boost its investment in a fund aimed at fostering innovation across the U.S.
The investments and hiring plans mark Apple’s “largest-ever spend commitment,” the company said in a news release. The announcement follows a meeting at the White House last week between President Donald Trump and Apple CEO Tim Cook.
Mr. Trump indicated in remarks after the meeting that the iPhone maker would invest hundreds of billions to avoid paying tariffs.
Apple produces most of its products in China, and the president has threatened another 10% tax on goods imported from that country.
The company is making its investment due to its “faith in what we are doing,” Mr. Trump stated in a social media post. Apple did not state if its plans had been in the works ahead of Mr. Trump taking office.
Apple also plans to continue expanding data center capacity in North Carolina, Iowa, Oregon, Arizona and Nevada, it said. Apple suppliers already manufacture silicon in 24 factories across 12 states, according to the company.
“From doubling our Advanced Manufacturing Fund, to building advanced technology in Texas, we’re thrilled to expand our support for American manufacturing,” Apple CEO Tim Cook said in a statement. “And we’ll keep working with people and companies across this country to help write an extraordinary new chapter in the history of American innovation.”
The announcement is “a strategic move by Cook & Co. to continue diversifying its manufacturing strategy in both the U.S. and globally while also playing well into Trump’s U.S. investment theme,” according to Wedbush Securities analysts led by Dan Ives. “Cook continues to prove that he is 10% politician and 90% CEO.”
The developments marks an increase in funding and hiring from Apple’s previously announced investments and plans, as the company said in 2021 it would invest $430 billion domestically during the next five years.
