Big League Jobs: Apple to Create $1 Billion Manufacturing Fund for Blue Collar American Workers
By Neil A. Carousso
Apple, Inc. Chief Executive Officer Tim Cook announced Wednesday on CNBC’s “Mad Money” that the iPhone maker plans to create a $1 billion investment fund in U.S. companies that perform advanced manufacturing.
Cook said Apple plans to fund programs that teach people how to write computer code to create mobile applications, adding that details about the initiative will be released this summer.
Since President Donald J. Trump was elected, Apple has been making an effort to disclose how the tech giant creates jobs in the United States. At the company’s annual shareholder meeting in February, Cook revealed Apple spent $50 billion in 2016 with U.S. suppliers, the first time Apple has disclosed the metric.
Cook told “Mad Money” host Jim Cramer that Apple has created 2 million American jobs with 80,000 directly at Apple and the rest from software developers and suppliers for the company’s app ecosystem.
Below is an updated list of the “big league jobs” announcements since Mr. Trump’s election. Roughly $111.2 billion in U.S. investments has been pledged with approximately 1,883,830 U.S. jobs being created that can be credited to President Trump’s pro-growth, pro-business policies.
1. Carrier: Keeping 1,100 American jobs instead of sending to Mexico
2. SoftBank CEO Masayoshi Son: Investing $50 billion to create 50,000 American jobs
3. Sprint: Bringing back 5,000 jobs to the U.S. that were sent overseas
4. OneWeb (new company): Creating 3,000 jobs in the U.S. (associated with Son’s guarantee)
5. Ford: Cancels $1.6 billion plant in Mexico, saving 3,500 American jobs. Creating new innovative center as an expansion of its Flat Rock, MI plant by investing $700 million in the U.S. and creating 700 American jobs
6. Qualcomm and Apple will invest in SoftBank’s new technology fund, SoftBank Vision Fund that is being used to create 50,000 American jobs.
7. Fiat Chrysler announces it would spend $1 billion on U.S. manufacturing, including modernizing plants in Michigan and Ohio, adding 2,000 new American jobs.
8. Toyota will spend $10 billion in U.S. capital investments and will expand its U.S. plants over the next five years.
9. Alibaba Chief Executive Jack Ma met with Trump to discuss the creation of 1 million American jobs, specifically focusing on small business growth.
10. Amazon will create 100,000 jobs in the first year and a half of the Trump Presidency.
11. Wal-Mart will create 10,000 jobs in the U.S. this year.
12. General Motors will invest $1 billion in its U.S. factories this year, moving some parts of production from Mexico to the United States that was previously handled by a supplier.
13. Toyota will add 400 American jobs to build more SUVs at an Indiana assembly plant.
14. Amgen will add 1,600 jobs.
15. Intel will invest $7 billion in innovation in an Arizona factory, creating 3,000 specialist positions and 10,000 support jobs.
16. Delta announces it will hire 25,000 jobs over the next 5 years.
17. Lockheed Martin will create 1,800 new jobs.
18. Exxon Mobil will invest $20 billion to create 35,000 temporary construction jobs and 12,000 high-wage permanent jobs.
19. Charter Communications will invest $25 billion in broadband infrastructure over the next four years to create 20,000 high-paying, highly beneficial American jobs.
20. Ford will invest $1.2 billion in Michigan, securing 3,700 American jobs and creating 130 jobs.
21. Toyota will invest $1.3 billion to revamp its Kentucky factory, saving 8,200 American jobs.
22. Apple plans to create a $1 billion advanced manufacturing fund, promoting the creation of American jobs and education of computer code.
Reuters and CNBC contributed to this report. Featured Photo is a Reuters file photo taken by Robert Galbraith of Apple CEO Tim Cook waving as he arrives on stage to deliver his keynote address at the Worldwide Developers Conference in San Francisco, California on June 8, 2015.