Thursday May 04, 2017

Apple Pledges $1 Billion on Manufacturing Jobs in the US

Tim Cook was asked by CNBC’s Mad Money host Jim Cramer what he was doing to create jobs in the US, and the CEO revealed that Apple would be creating a fund to promote advanced manufacturing, seeding it with a billion bucks to start. The company is already responsible for 2 million jobs in the States, and this decision is expected to boost those numbers as an investment toward smaller American companies that manufacture products here.

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Apple CEO Tim Cook said that his company will start a $1 billion fund to promote advanced manufacturing jobs in the United States. "We're announcing it today. So you're the first person I'm telling," Cook told "Mad Money" host Jim Cramer on Wednesday. "Well, not the first person because we've talked to a company that we're going to invest in already," he said, adding that Apple will announce the first investment later in May. The fund comes as President Donald Trump has made bringing back manufacturing jobs a big part of his agenda, and it fits into Apple's larger effort to create jobs across its spectrum, from its own employees to app developers to its suppliers.