Apple said Wednesday it plans to open a new U.S. campus as part of its dedication to contribute $350 billion to the U.S. economy over the next five years.
Though the company just completed $5 billion of renovations on its Cupertino, Calif., headquarters, it is looking for another campus that will initially house technical support for customers. The new location, to be announced later this year, would create about 20,000 new jobs "through hiring at existing campuses and opening a new one."
Apple also plans to bring back billions of dollars it stored in banks overseas as a way to evade taxes. As required by changes to the tax law, it will pay a one-time tax of $38 billion on those holdings.
"Apple is a success story that could only have happened in America, and we are proud to build on our long history of support for the U.S. economy," Apple CEO Tim Cook said in a press release. "We believe deeply in the power of American ingenuity, and we are focusing our investments in areas where we can have a direct impact on job creation and job preparedness. We have a deep sense of responsibility to give back to our country and the people who help make our success possible."
The announcement comes the same day Apple broke ground on a new facility in Reno, Nev., that will support its existing Nevada facilities.
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