Apple starting US tech manufacturing fund with $1 bn

MSN:  Apple chief Tim Cook announced Apple is creating a fund to get more people in the US to do "advanced manufacturing," kicking it off with a billion dollars.

Apple investing in high-tech manufacturing in the United States would come as rare common ground with US President Donald Trump, who hammered away at the theme during his campaign for office last year.

"We are creating an advanced manufacturing fund," Cook said in an interview broadcast on CNBC.

"We are initially putting one billion dollars in the fund."

Cook pointed out that apple spent more than $50 billion in the US last year -- buying from suppliers such as Corning Glass, working with developers behind applications for the California company's devices and more.

Apple has about 80,000 employees in the US and plans to hire thousands more "in the future," according to Cook.

"A company should have values because a company is a collection of people, and people should have values," Cook said.

"One of the thing you should do is give back."

Apple planned to borrow money for the new fund despite having a fortune in coffers overseas because of the tax hit that the company would suffer if it brought profit home, according to Cook.  Full Article:

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

Sierra Introduces One Complete Industrial Flow Energy Solution

Sierra Introduces One Complete Industrial Flow Energy Solution

Sierra Instruments announces the launch of its new flow energy solution for managing and optimizing flow measurement for industrial facilities of all sizes. It features Sierra's QuadraTherm 640i/780i thermal flow meters, their InnovaMass 240i/241i vortex flow meters, and their new InnovaSonic 207i ultrasonic flow meter. Designed, built, and calibrated in the USA by Sierra, the Big-3TM share the same revolutionary Raptor firmware and many of the same software apps. They are a complete flow energy solution for flows like compressed air, natural gas, steam, and hot and chilled water. Together, they set a new standard in ease-of-purchase, performance, accuracy, reliability, and ease of use.