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Apple CEO Tim Cook (Photo: Justin Sullivan/Getty Images)

Apple plans to open a second corporate campus as part of a broader plan to "directly contribute" $350 billion to the U.S. economy over the next five years, a figure that doesn't include its regular taxes, tax revenue from the wages it plays employees or the sale of Apple products.

Why it matters: While it manufactures nearly all its products outside the U.S., Apple has been eager to show how much it contributes domestically including all the developers, Apple suppliers and contract manufacturers that are based here.

Here are some of the stats Apple is touting:

  • Apple expects to pay around $38 billion in repatriation taxes thanks to the new law (the largest such payment of its kind).
  • Apple expects to spend more than $30 billion in U.S. capital expenses over the next five years. (Over $10 billion will be in data centers.)
  • Apple is increasing the size of an advanced manufacturing fund to $5 billion from $1 billion.
  • Apple plans to create 20,000 new U.S. jobs on top of its 84,000 existing U.S. workers.

As for the new campus, Apple said it will initially handle technical support, with the location to be announced later this year.

Go deeper

Dion Rabouin, author of Markets
48 mins ago - Economy & Business

Workers are getting a really bad deal

Illustration: Eniola Odetunde/Axios

This week's spate of data highlighted the difficulties Americans who have lost their jobs have had bouncing back from the coronavirus pandemic, and just how much those who have managed to keep their jobs have been working.

What's happening: The Labor Department reported Thursday that the productivity of American workers fell by a revised 4.2% annual rate in the fourth quarter, the largest decline in 39 years.

FBI: Trump appointee arrested in connection with Capitol riot

Photo: Samuel Corum/Getty Images

The FBI on Thursday arrested former State Department aide Federico Klein, a Trump appointee who worked on the former president's 2016 campaign, on charges related to the Jan. 6 storming of the Capitol, according to a court filing.

Why it matters: The 42-year-old Klein is the first member of the Trump administration to be arrested in connection with the insurrection, which led to the former president's second impeachment and charges against over 300 people.

Biden confronts mounting humanitarian crisis at the border

Illustration: Eniola Odetunde/Axios. Photo: Pool/Getty Images     

Just over a month into his presidency, President Biden is staring down a mounting crisis at the border that could be just as bad as the ones faced by Barack Obama and Donald Trump, if not worse.

Why it matters: Immigration is an issue that can consume a presidency. It's intensely and poisonously partisan. It's complicated. And the lives and welfare of vulnerable children hang in the balance.

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