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Apple to invest $1B in fund to create U.S. manufacturing jobs

Published 05/03/2017, 07:08 PM
© Reuters.  Apple to invest $1B in fund to create U.S. manufacturing jobs
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  • Tim Cook has set a use for (a very small amount of) Apple's cash: to promote advanced manufacturing jobs in the United States.
  • Speaking on CBNC, the CEO said the company would set up a $1B fund to invest in the job-creation effort, and that Apple (AAPL -0.3%) would announce later this month which company gets the first investment.
  • Apple has created 2M jobs in the U.S., and Cook says the company should be giving back.
  • "By doing that, we can be the ripple in the pond," he said. "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."
  • Now read: Apple: It's About The Forest, Not The Tea Leaves


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