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More Tax Reform Success: Apple Investing $350 Billion In U.S., Including 20,000 New Jobs

Apple says it is planning to invest $350 billion in the U.S. economy over the next five years, including 20,000 new jobs and a new campus because of tax reform. The company says it also expects to bring a portion of its $250 billion in overseas cash, for a $38 billion tax windfall. Apple has previously said that 94% of its cash has been held overseas.

Apple says it is planning to invest $350 billion in the U.S. economy over the next five years, including 20,000 new jobs and a new campus, or second headquarters, because of tax reform.

The company said it also expects to bring a portion of its $250 billion in overseas cash, for a $38 billion tax windfall. Apple has previously said that 94% of its cash has been held overseas.

The job creation will focus on direct employment, as well suppliers and its app business.

"We have a deep sense of responsibility to give back to our country and the people who help make our success possible," chief executive Tim Cook said in a statement.

In 2016, then president-elect Donald Trump publicly called out Apple's reliance on its Chinese supply chain, telling The New York Times that he would "get Apple to build a big plant in the United States, or many big plants in the United States."

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