Apple plans to create 20,000 new jobs and contribute $350bn to the US economy with fresh campus

Over the next five years Cupertino will inject large sums of cash into the US

Apple has announced plans to contribute $350 billion to the US economy over the next five years by creating thousands of new jobs.

Revealing the news in a press release entitled Apple accelerates US investment and job creation', the scheme will also look to create a brand new campus powered entirely by "green energy" - to house the 20,000 or so fresh workforce in, all by 2023.

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"Apple is already responsible for creating and supporting over two million jobs across the United States and expects to generate even more jobs as a result of the initiatives being announced today," the Cupertino firm said.

"Combining new investments and Apple's current pace of spending with domestic suppliers and manufacturers an estimated $55 billion for 2018 Apple's direct contribution to the US economy will be more than $350 billion over the next five years, not including Apple's ongoing tax payments, the tax revenues generated from employees' wages and the sale of Apple products."

As the US largest tax payer, Apple already has over 84,000 employees in the US but said it is allocating $5bn to the Advanced Manufacturing fund, while it has also doing business with 9,000 American suppliers across all 50 states.

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Apple said it will not hold a bidding process when it chooses the site for a planned new US campus. A spokesperson for the firm confirmed the news after Apple's chief executive Tim Cook said in an interview on Wednesday that he did not want an "auction kind of process".

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"We've narrowed the list a lot," Cook said in an interview with ABC News as he discussed the potential sites for the new green-energy campus. "We wanted to narrow it so we prevent this auction kind of process that we want to stay out of."

It's unlikely the new campus will be built in California, where Apple's futuristic-looking headquarters are already located, or Austin, where its customer services dept is, Cook added.

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