Apple to build 2nd campus, hire 20,000 in $350B pledge
The pledge announced Wednesday comes less than a month after
Besides dramatically lowering the standard corporate tax rate, the reforms offer a one-time break on cash being held overseas.
About
Companies that bring back money stashed overseas this year will be taxed at a 15.5 percent rate, below the new 21 percent rate for
Other
Excluding banks and other financial services companies,
Analysts have been predicting that most of the overseas profits coming back to the
Trump and lawmakers are hoping companies use the money to raise wages, expand payrolls, open more offices and invest in new equipment.
After plowing nearly
But Wednesday's announcement was clearly designed to be a show of faith in the
"
The
"Just as the president promised, making our businesses more competitive internationally is translating directly into benefits for the American worker, through increased wages, better benefits, and new jobs,"
The company didn't say how big the second campus will be, or how many of the additional 20,000 workers that it plans to hire will be based there. About 84,000 of
One thing is certain: Cities from across the
That was what happened last year after Amazon announced it would build a second headquarters in
Besides hiring more workers and building its second campus,
AP writers
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