Apple plans to add $350B to US economy, $38B in repatriated tax payments
Apple (NASDAQ:AAPL) plans to contribute more than $350B to the U.S. economy over the next five years and hire 20K additional workers.
The total doesn’t include ongoing tax payments, the tax revenues from employees’ wages, or the sale of Apple products.
Planned U.S. capital expenditures, investments in manufacturing, and a record tax payment on repatriation of overseas cash will account for $75B of the company’s direct contribution.
Apple anticipates $38B in repatriation tax payments and $30B in capital expenditures. Over $10B of the latter will go towards data center investments.
Apple also increases the size of its Advanced Manufacturing Fund it established last year from $1B to $5B.
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