Apple CEO Tim Cook announced Wednesday that his company is investing $1 billion in the creation of US manufacturing jobs.
Speaking to Mad Money host Jim Cramer on CNBC, Apple CEO Tim Cook announced that the company would be creating a $1 billion fund to promote advanced manufacturing jobs across America. “We’re announcing it today. So you’re the first person I’m telling,” said Cook to Jim Cramer on Wednesday. “Well, not the first person because we’ve talked to a company that we’re going to invest in already.” Apple will reportedly announce their first investment in May.
“We’re announcing it today. So you’re the first person I’m telling,” said Cook to Jim Cramer on Wednesday. “Well, not the first person because we’ve talked to a company that we’re going to invest in already.” Apple will reportedly announce their first investment in May.
Apple has created two million jobs in the US, but many of their computer components are manufactured overseas. During his campaign, President Donald Trump famously vowed to bring Apple’s production back to the US.
“We’re going to get Apple Computer to build their damn computers and things in this country, instead of in other countries,” he said. “We gotta bring back the jobs from China, we gotta bring back the jobs from Japan, and all these countries that are ripping us off. And we’re gonna do that. And we are gonna do that.”
Breitbart reported in November that Apple has already researched the costs of moving iPhone production back to the US following President Trump’s comments.
“By doing that [investing], 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,” said Cook, “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.”
Cook clarified how Apple plans to “give back” saying, “So how do you give back? We give back through our work in the environment, in running the company on renewable energy. We give back in job creation.”