Tech giant Apple is poised to announce a new investment of $100 billion in U.S. facilities as early as today, the White House said on Wednesday.
National Economic Council director Kevin Hassett said on FOX Business Network’s “Mornings with Maria” that companies are “moving here in droves, which is why we’ve got trillions and trillions of dollars of commitments for people to build new factories here. In fact, you’re likely to see one today from Apple.”
The White House said that the announcement will include an additional $100 billion investment by Apple, which will bring the company’s planned U.S. investments over the next four years to a new total of $600 billion.
“President Trump’s America First economic agenda has secured trillions of dollars in investments that support American jobs and bolster American businesses,” said White House spokesperson Taylor Rogers. “Today’s announcement with Apple is another win for our manufacturing industry that will simultaneously help reshore the production of critical components to protect America’s economic and national security.”
The announcement is expected to include a new American Manufacturing Program (AMP) that is dedicated to bringing more of Apple’s supply chain and advanced manufacturing to the U.S.
Through the AMP, Apple plans to increase its investment in the U.S. and incentivize global firms to manufacture more critical components in the U.S.
The White House has touted Apple as supporting over 450,000 jobs through its network of thousands of suppliers and partners across all 50 states.
This is a developing story. Please check back for updates.
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