Accelerating job creation with $350 Billion

POSTED ON Apr 05, 2023

On March 7, 2023, Apple launched a new yellow iPhone 14 and iPhone 14 Plus. Both models include a dual-camera system for stunning photos and videos, the A15 Bionic chip, and safety capabilities, including Emergency SOS via satellite and Crash Detection.

In January 2018, Apple announced that the technology company planned to accelerate job creation with a $350 Billion contribution to the US economy over the next five years. Apple also said it expected to hire over 20,000 new jobs at existing campuses. Click here for more on careers at Apple.

The statement said Apple’s new set of investments to support the American economy and its workforce is concentrated in three areas where Apple has had the greatest impact on job creation: direct employment by Apple, spending, and investment with Apple’s domestic suppliers and manufacturers, and fueling the fast-growing app economy which Apple created with iPhone and the App Store, the company said in its press release.

The statement also said Apple’s iOS app economy had created more than 1.6 million jobs in the US and generated $5 billion in revenue for American app developers in 2017.

Apple said it also plans to accelerate its efforts across the US to support coding education and programs focused on Science, Technology, Engineering, Arts, and Math (STEAM).

To address the coding skills gap and help prepare more people for jobs in software development, Apple created a coding language and a free curriculum, which is available to anyone and is already being used by millions of students at K-12 schools, summer camps and leading community colleges across the country. Over 100,000 students and teachers have also attended coding classes at Apple retail stores.

Combining new investments and Apple’s current pace of spending with domestic suppliers and manufacturers — an estimated $55 billion for 2018 — Apple’s direct contribution to the US economy will be more than $350 billion over the next five years, not including Apple’s ongoing tax payments, the tax revenues generated from employees’ wages and the sale of Apple products.

With the demand for coding skills strong, there are more than 500,000 programming-related positions across the country. The Bureau of Labor Statistics predicted that by 2020 there would be 1.4 million more software development jobs than applicants qualified to fill them.

Building on the initial success of the Advanced Manufacturing Fund, Apple is increasing the size of the fund from $1 billion to $5 billion. The fund was established to support innovation among American manufacturers and help others establish a presence in the US. It is already backing projects with leading manufacturers in Kentucky and rural Texas.

Apple works with over 9,000 American suppliers — large and small businesses in all 50 states — and each of Apple’s core products relies on parts or materials made in the US or provided by US-based suppliers.

Over the last decade, Apple has invested billions of dollars in data centers and co-located facilities in seven US states, including North Carolina, Oregon, Nevada, Arizona, and a recently announced project in Iowa.

Apple’s US facilities, including offices, retail stores, and data centers, are powered by 100 percent renewable energy sources like solar, wind, and micro-hydro power, which Apple generates or purchases from local projects. A new campus announced today will also be powered entirely by green energy.

According to code.org, there are currently 503,338 open computing jobs nationwide. The company is also increasing funding for its ConnectED program so students in historically underserved communities can learn app coding skills and enjoy other benefits of technology in the classroom.