Apple Plans to Spend $430 Billion, Add 20,000 New US Jobs to Help With COVID Recovery

"Hong Kong, China - October 20, 2011: People in the Apple Store at International Finance Center, Central Hong Kong, opened on the September 24, 2011.
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If you’re looking for a company that is bullish on the prospects of the U.S. economy after the COVID-19 pandemic finally eases, look no further than Cupertino, California.

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On Monday, Cupertino-based Apple announced plans to spend more than $430 billion in the U.S. and add 20,000 new jobs over the next half-decade as it prepares to rev back up following the pandemic. Those plans include opening  a new campus in North Carolina’s Research Triangle, where it plans to add about 3,000 jobs.

Apple’s planned investment represents a 20% increase from its original five-year goal of $350 billion set in 2018, ABC News reported on Monday. The tech giant’s spending plans will cut a wide swath throughout the United States, including doing business with more than 9,000 U.S. suppliers and companies in every state. It also plans to invest in data centers and earmark funds for dozens of Apple TV+ productions across 20 states, according to a company press release reported by ABC News.

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Apple is already the nation’s biggest U.S. taxpayer and a major employer with more than 2.7 million jobs nationwide, according to ABC News. It plans to rapidly expand staff and operations in California, Colorado, Massachusetts, New York, Texas and Washington.

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But North Carolina got the lion’s share of attention Monday. As CNBC reported, Apple will spend more than $1 billion on a new campus in Raleigh and add about 3,000 mostly high-paying jobs in software engineering and machine learning.

The North Carolina campus continues a recent trend that has seen Apple and other Big Tech companies expand beyond the Silicon Valley. Apple already has another $1 billion campus underway in Austin, Texas, which is expected to open next year, according to CNBC.

Meanwhile, Oracle said last year that it will move its headquarters to Austin, Google is spending $1 billion on a new campus in New York City and Amazon is building a second headquarters in Arlington, Virginia, where it plans to hire 25,000 people, CNBC reports.

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About the Author

Vance Cariaga is a London-based writer, editor and journalist who previously held staff positions at Investor’s Business Daily, The Charlotte Business Journal and The Charlotte Observer. His work also appeared in Charlotte Magazine, Street & Smith’s Sports Business Journal and Business North Carolina magazine. He holds a B.A. in English from Appalachian State University and studied journalism at the University of South Carolina. His reporting earned awards from the North Carolina Press Association, the Green Eyeshade Awards and AlterNet. In addition to journalism, he has worked in banking, accounting and restaurant management. A native of North Carolina who also writes fiction, Vance’s short story, “Saint Christopher,” placed second in the 2019 Writer’s Digest Short Short Story Competition. Two of his short stories appear in With One Eye on the Cows, an anthology published by Ad Hoc Fiction in 2019. His debut novel, Voodoo Hideaway, was published in 2021 by Atmosphere Press.
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