Apple Says it Will Contribute $350 Billion to the US Economy in the Next Five Years

The company said it’s already on track to spend $55 billion in 2018 with domestic suppliers and manufacturers. That $350 billion estimate doesn’t include Apple’s tax payments, the tax revenues from employees’ wages, and the sale of Apple products.

“Apple is a success story that could only have happened in America, and we are proud to build on our long history of support for the US economy,” said Tim Cook, Apple’s CEO. “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.”

Along with an estimated in $30 billion in capital expenditures in the next five years, Apple is planing to create more than 20,000 new jobs. The company already employees 84.000 workers in all 50 states.

Interestingly, Apple is also planning to establish another Apple campus in a new location that will begin as a location for technical support personnel. The new campus location will be announced later this year.