Thursday, October 19, 2017

Apple invests $2bn in the US including a massive data centre expansion

Tim Cook steps up Apple’s role on delivering to President Donald Trump the America he promised.

Apple has in the last week announced investment plans in the US worth $2bn, including a $1bn expansion of its data centre in Reno, Nevada.

The data centre expansion was approved by the Reno City Council this Wednesday and is expected to add at least 100 jobs to the local economy.

The $1bn investment will bring the capital expenditure on this specific campus to nearly $2bn while almost tripling the workforce at the site in the Reno Technology Center.

John Rosenstock, Apple’s spokesman said: “We are excited to be increasing our contributions to the local economy with an additional $1bn investment to expand our data centre and supporting facilities.

“As part of our growth, we plan to hire 100 employees and expect construction will support an additional 300 jobs.”

The campus was commissioned in 2012 after Apple benefited from $89m om state property and sales tax abatements.

Last week, Apple’s CEO Tim Cook had announced a $1bn investment fund to promote advanced manufacturing jobs in the US.

The first investment is expected to be announced in later this month, Cook told CNBC’s Mad Money host Jim Cramer.

Cook said: “By doing that, we can be the ripple in the pond. Because if we can create many manufacturing jobs around, those manufacturing jobs create more jobs around them because you have a service industry that builds up around them.”

However, while $2bn might sound like a lot for many, for Apple that is only 0.8% of its cash holdings which now stand at $250bn.