Apple will contribute over $350 billion into US economy over the next five years

Earlier this year Apple announced that it will be contributing $350 billion into the US economy over the next five years. 

The investments will concentrate on three areas: direct employment by Apple, spending and investment with Apple’s domestic suppliers and manufacturers, and the digital App Store economy.

Ony $75 billion of that total number will come from capital expenditures, new investments in manufacturing, and its repatriation tax payment. The rest of the number is due to normal growth and spending.

Apple CEO Tim Cook commented in the announcement that “We believe deeply in the power of American ingenuity, and we are focusing our investments in areas where we can have a direct impact on job creation and job preparedness. We have a deep sense of responsibility to give back to our country and the people who help make our success possible.”