Apple will be opening a new campus in Raleigh, per a Monday morning announcement.
Apple will invest $1 billion over 10 years on the campus, which will employ 3,000 people in technology, software engineering and machine learning roles. These jobs would have an average wage of $187,000 starting in 2023, according to the North Carolina Department of Commerce.
According to a press release from Apple, the company plans to make more than $430 billion in contributions and add 20,000 new jobs across the country over the next five years.
As part of the agreement with the state, Apple will retain jobs for the 1,100 people they employ in North Carolina.
The company also intends to establish a $100 million fund to support schools and initiatives across North Carolina. Additionally, $112.4 million from state income taxes paid by Apple’s new North Carolina employees will help fund infrastructure projects for rural communities, such as broadband, roads, bridges and public schools. Apple predicts these investments will generate over $1.5 billion annually for the state, according to their press release.
“Innovation has long been North Carolina’s calling card and Apple’s decision to build this new campus in the Research Triangle showcases the importance of our state’s favorable business climate, world-class universities, our tech-ready workforce, and the welcoming and diverse communities that make so many people want to call North Carolina home,” Governor Roy Cooper said in a statement.
Apple is not the only major technology company to recently announce an expansion to North Carolina. Google announced in March that they intended to open a new cloud engineering hub in Durham, which could eventually support more than 1,000 jobs.
Apple CEO Tim Cook and COO Jeff Williams received Masters of Business Administration from Duke’s Fuqua School of Business in 1988 and 1991, respectively. Eddy Cue, Apple’s senior vice president of Internet Software and Services, graduated from Duke’s Trinity College of Arts and Sciences in 1986.
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