Science

Where Will Apple Build its Second Headquarters? Tim Cook 'Narrows the List'

Where Will Apple Build its Second Headquarters? Tim Cook 'Narrows the List'

Along with the creation of a new campus, its likely largest on record tax repatriation payment and job growth plans, Apple's announcement included even more United States investment targets. This will be the largest payment ever made of this kind and alongside US investments and planned capital expenditures, will amount to $75 billion of the overall $350 billion contribution.

And it is feared other tech companies may follow Apple's example and move money back to the USA where recent tax changes means corporate taxes in the United States are now lower at 21 percent.

While no plans have been announced that would indicate Apple is planning to change the practice, and experts believe it is not practical economically to make iPhones in the USA, the company has started to emphasize its economic impact in the us from the developers selling software from its App Store to the billions of dollars it spends each year with suppliers in the U.S. "Huge win for American workers and the U.S.!"

Cook said he wanted to be clear that there were large parts of this that resulted from the tax reform, and there were large parts we would have done in anyway.

Apple is one of many companies reinvesting in the USA and its workers following approval of the Republican tax deal.

Along with its hundreds of stores across the country, Apple has data centres and facilities in seven U.S. states.




The changes cut the corporate rate from 35% to 21%.

As part of the tax agreement with government officials, Apple will also be able to bring its $252.3 billion of foreign cash back to the States.

Today, Apple is breaking ground on a new facility in downtown Reno, which will support its existing Nevada facilities.

Cook said the new campus will not be in California-where its new $5 billion "Spaceship" headquarters is located-nor will it be in Texas, where the company already has a significant presence.

Apple specifically laid out in the press release their plans to create 20,000 new jobs through hiring at their current campuses as well as the creation of new ones. The arrangement would also have to be approved by the U.S. tax authorities and, as the Apple situation is unusual, some uncertainty still surrounds its likely tax treatment.

European Commission experts have made it clear that the Trump tax reform will make Brussels plans for taxing Apple, Google and other giants more hard, if not bringing an end to the idea.


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