Apple Inc (NASDAQ: AAPL ) said on Monday it will establish a new North Carolina campus that will house up to 3,000 employees, expand operations in several other U.S. states and increase spending targets with local suppliers.
The tech giant said it plans to spend $1 billion building a new campus and engineering center in North Carolina’s Research Triangle area, where most work is expected to focus on machine learning, intelligence artificial intelligence, software engineering and other technological areas.
This project joins a $1 billion campus in Austin, Texas, announced in 2019. The North Carolina Economic Investment Committee on Monday approved a grant for the jobs initiative that could provide Apple with up to $845.8 million. dollars in tax refunds over 39 years if the firm achieves jobs and growth goals.
State officials said the 3,000 jobs are expected to create $1.97 billion in new tax revenue for the state over the grant period.
Apple also raised the US spending target to $430 billion by 2026, up from the $350 billion five-year goal Apple set in 2018, which it said it was on track to exceed.