In a speech on the White House garden at present, President Trump introduced up Apple throughout some remarks about financial development. The iPhone maker, Trump claimed, is about to construct “new vegetation” within the U.S.
Cue Ron Howard’s Arrested Development narrator — (“It’s not.”)
“Apple alone is bringing in $230 billion and so they’re constructing new vegetation, they’re constructing an impressive campus, they’re gonna be spending their cash very properly, however they’re spending it in our nation, not in another nation,” Trump mentioned through the speech.
Okay, giving Trump the good thing about the doubt — sure, Apple has a shiny new campus, Apple Park. It’s additionally in search of one other U.S. campus location. But by way of “new vegetation,” Trump might have been referring to Apple manufacturing associate Foxconn, which simply broke floor on a $10 billion plant in Wisconsin.
It’s not a lot of a stretch to assume Trump could have been referring to that as a result of, effectively, Trump was current for that plant’s groundbreaking in June.
Foxconn is the most important contract electronics maker and might be producing flat-panel shows at that 20 million-square-foot Mount Pleasant, Wisconsin manufacturing facility. The facility will ultimately be thrice the dimensions of the Pentagon and make use of as much as 13,000 staff with a median wage of greater than $53,000 plus advantages.
Per 9to5Mac, “The narrative of Apple constructing ‘new vegetation’ within the United States is one in every of long-running falsehood. Trump first claimed final yr that Tim Cook had promised him Apple was constructing three ‘large’ manufacturing vegetation within the United States. Cook then dodged a query about such vegetation, as an alternative touting the corporate’s current dedication to job creation and development within the United States.”
Going again slightly earlier this yr, although, Apple did make a multibillion-dollar announcement that’s related to all this. The firm mentioned it’s committing to contributing $350 billion to the U.S. financial system over the following 5 years by way of a mixture of components like anticipated job creation. That determine can also be separate from Apple’s ongoing tax funds and the sale of Apple merchandise.
It encompasses new investments and likewise “Apple’s present tempo of spending with home suppliers and producers” which is estimated to hit $55 billion this yr.