Apple pledges $1bn to create more US manufacturing jobs

Apple CEO Tim Cook
Apple CEO Tim Cook

Apple plans to create a $1bn (£775m) fund for advanced manufacturing in the US, as it looks to prove its desire to create jobs at home and fit President Donald Trump’s agenda of bringing jobs back to the US.

Speaking to CNBC, Apple CEO Tim Cook announced the plans to add to the 2m jobs the company is said to have created in the US – with the first investment from the fund will be announced later this month.

“A lot of people ask me: ‘do you think it’s a company’s job to create jobs?’ And my response is [that] a company should have values because a company is a collection of people. And people should have values, so by extension, a company should. And one of the things you do is give back,” said Cook.

A massive part of President Trump’s presidential campaign centred on bringing manufacturing jobs back to the US from countries like China. In Apple’s case, it is looking toward the high demand of advanced manufacturing, and the creation of more jobs in the sector.

“We ask ourselves: ‘how can we get more people to do advanced manufacturing in the US?’ And I’m proud to tell you that we’re creating an advanced manufacturing fund. We’re initially putting $1bn into the fund,” Cook continued.

“We’re really proud to do it. And by doing that, we can be the ripple in the pond. If we can create many manufacturing jobs, those manufacturing jobs create more jobs around them – because you have a service industry that builds up around them.