Apple is bringing a mountain of cash - and jobs - to the US

Apple CEO Tim Cook said on Wednesday the company is focusing investments "in areas where we can have a direct impact on job creation and job preparedness".

The company directly employs 84,000 people in all 50 states and plans to create more than 20,000 new jobs "though hiring at existing campuses and opening a new one". Apple also told employees that it's issuing stock-based bonuses worth $2,500 each following the new USA tax law, according to people familiar with the matter.

Some of the new hires will work at a yet another new Apple campus that the company expects to announce later this year.

The $30 billion investment in the company's facilities across the United States will include a new campus in a yet-to-be-disclosed location. Along with a lower corporate tax rate, Apple can now bring back some or all of the roughly $252 billion in cash or cash equivalents it has parked overseas at a thrifty 15.5% tax rate.

Moreover, Apple is expanding from US$1 billion to US$5 billion a fund it established a year ago for investing in advanced manufacturing in the US.

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Roughly $10 billion of the money will go to United States data centers.

The iPhone giant said it "anticipates repatriation tax payments of approximately $38 billion as required by recent changes to the tax law", and claims that is the largest such payment ever.

"Just as the president promised, making our businesses more competitive internationally is translating directly into benefits for the American worker, through increased wages, better benefits and new jobs", said Lindsay Walters, a White House deputy press secretary.

Apple will announce the location later this year.

Apple has not specified how much of its cash pile it intends to repatriate.

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Apple is already the largest tax payer in the U.S., the release said, and this $38 billion tax payment would be the largest of its kind.

Apple also added that about $10 billion of the planned U.S. investments will go into data centers, and that it will break ground on a new center in Reno, Nevada, today.

"Financial analyst Gene Munster told NPR, "[Apple's] testing have found that people really want to talk to someone for support that's based in the country that they're calling from and so Apple U.S.is their biggest base so they want to accommodate that".

Apple will also invest in teaching students to code and programs focused on STEAM. Senator John McCain said his constituents were "mad as hell" to learn that the world's biggest company was paying tax rates that were sometimes lower than 1%.

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