Apple Announces $1 Billion Fund to Promote Advanced Manufacturing Jobs in the U.S.

Apple has announced that it's creating a $1 billion fund to promote advanced manufacturing jobs in the United States.

"We're announcing it today. So you're the first person I'm telling," Apple CEO Tim Cook told "Mad Money" host Jim Cramer on Wednesday. "Well, not the first person because we've talked to a company that we're going to invest in already."

The fund comes as President Donald Trump continues his push to bring manufacturing jobs back to the country. While advanced manufacturing jobs are already in high demand, Cook hopes the investment will spur even more job creation.


"By doing that, we can be the ripple in the pond. Because if we can create many manufacturing jobs around, those manufacturing jobs create more jobs around them because you have a service industry that builds up around them."

"A lot of people ask me, 'Do you think it's a company's job to create jobs?' and my response is [that] a company should have values because a company is a collection of people. And people should have values, so by extension, a company should. And one of the things you do is give back," Cook said. "So how do you give back? We give back through our work in the environment, in running the company on renewable energy. We give back in job creation."

Apple will announce the first investment later this month. Please follow iClarified on Twitter, Facebook, or RSS for updates.

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