Apple’s manufacturing process takes place overseas, a fact that has been the case for many years, and is the same from a variety of different companies.
But, recently Apple, and those other companies that have relied so heavily on foreign manufacturing, have come under extra attention to bring some of that process to the United States. And to address that, today during Tim Cook’s talk with Jim Cramer on CNBC Mad Money, Apple announced that it is investing $1 billion to promote U.S. manufacturing.
The announcement is just meant as a preview, as Cook said more information will be delivered on the topic later this month. Still, the Apple CEO did say that the fund is meant to promote advanced manufacturing jobs in this neck of the woods. Moreover, Apple has already decided on which company it will be investing in, but it did not divulge that information today.
Apple’s goal is to help stimulate job creation, and says that it will act as a “ripple in the pond” to budge other companies to do the same thing. That $1 billion in investment is meant to boost the momentum, and hopefully get the ball rolling.
Also in the United States, Cook said that he believes a company should be giving back to the people in some form or another, and that a company should focus on having values as it’s a collection of people who live and breath its mission statement. In Apple’s case, Cook pointed out the company has created over 2 million jobs, and that the company spent over $50 billion into the U.S. economy last year alone.