"We have a deep sense of responsibility to give back to our country and the people who help make our success possible".
While the company has often come under fire for outsourcing many of its operations to foreign countries, Apple is firing back at critics by creating more than 20,000 new jobs in the next several years by hiring both at existing campuses and opening a new one. S. -based investments in data centers and other projects and Asian investments in tooling for its contract manufacturers.
S. -based suppliers, on Wednesday estimated it would spend $350 billion in the United States over the next five years.
For years, the company used to say that it will not bring its foreign earnings back to the U.S until the corporate tax code altered as such a move will be too costly for it.
If Apple's overall capital expenditures continue to expand at the same rate expected this year, the $30bn investment in the U.S. could represent about a third of its capital expenditures over the next five years.
NPR's Laura Sydell told Kelly McEvers, host of All Things Considered, that Apple has kept some $250 billion outside the U.S.
Other investments will go into domestic suppliers, manufacturing partners and education focused on app development.
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Apple, which has 94 per cent of its total cash of $269 billion outside the United States, said it would make a one-time tax payment of $38 billion on the repatriated cash.
Apple told CNBC's Mad Money past year that it would invest $1 billion fund to promote advanced manufacturing jobs in the US.
Apple has announced it will pay $38 billion in taxes to the United States federal government as it brings some of the cash from its overseas stockpile back into the USA.
Apple already spent billions of dollars on a new "space ship" campus in its home city of Cupertino in Silicon Valley. Apple will pay 15.5% in taxes to repatriate overseas cash which suggests that the company will repatriate $245 billion, or nearly all of its foreign money.
Apple hasn't announced where it will build its new campus, but it is expected to house the technical support staff there who speak with customers in the U.S.
Excluding banks and other financial services companies, Moody's Investors Service estimated that corporate America had approximately $1.6tn in overseas cash, most of it in the technology industry, with Apple at the top of the heap. In the announcement, Apple noted that it was the largest USA taxpayer and that the one-time tax payment is likely the largest of its kind in US history.
Apple's Wednesday announcement of new investments in US facilities, jobs, and companies is real news and good news.
Late previous year leaked financial documents known as the Paradise Papers revealed that Apple shifted much of its offshore wealth from Ireland to a tax haven in the British Isles.