Apple to invest $1 billion in new Texas campus | Financial Times

Apple to invest $1 billion in new Texas campus

Apple to invest $1B in new Austin campus   7:18 AM ET Thu, 13 Dec 2018 | 00:56 Apple  will invest $1 billion in a new campus in Au...

Apple will invest $1 billion in a new campus in Austin, Texas, the company announced on Thursday.
The 133-acre campus will be located in North Austin and will accommodate an initial 5,000 employees, with capacity for 15,000 employees in total. The new campus will be located less than one mile from Apple's existing Austin facilities and will house a range of jobs in engineering, R&D, operations, finance, sales and customer support.
Apple said the expansion will make it the largest private employer in Austin.
"Apple is proud to bring new investment, jobs and opportunity to cities across the United States and to significantly deepen our quarter-century partnership with the city and people of Austin," Apple CEO Tim Cook said in a press release.
Texas Governor Greg Abbott said in a statement Apple's decision to expand in Texas "is a testament to the high-quality workforce and unmatched economic environment that Texas offers."
On Thursday, Apple also announced plans to open new sites and add over 1,000 employees in Seattle, San Diego and Culver City over the next three years. It said it will also expand its existing operations in Pittsburgh, New York, Boulder, Boston and Portland, Oregon.
Apple also announced that it has added 6,000 jobs to its U.S workforce in 2018 and is on track to create 20,000 jobs across the country by 2023.
Apple plans to invest $10 billion in U.S. data centers over the next five years, including $4.5 billion this year and next. On Thursday, the company said "preparations are underway" for its newest data center in Waukee, Iowa. It is also expanding its data centers in North Carolina, Arizona and Nevada.
President Donald Trump has attacked Apple for producing many of its devices outside of the United States. In September, he warned Apple it could face more tariffs, ordering the company to "make your products in the United States instead of China."
Apple shares have been under pressure in recent months amid worries about demand for its new iPhones. The tech titan has also been in the crosshairs of the trade war between the U.S. and China. President Trump threatened to place a 10 percent tariff on iPhones and laptops made in China last month. Apple's stock has tumbled more than 20 percent over the past three months.
Wade Green - Financial Analyst
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Financial Times: Apple to invest $1 billion in new Texas campus
Apple to invest $1 billion in new Texas campus
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