During a Wednesday evening interview with CNBC’s Jim Cramer, Apple CEO Tim Cook said the company has created a $1 billion manufacturing fund to help stimulate job growth in the U.S.
He offered no details about the fund, but noted that the “advanced manufacturing fund” will come from the company’s U.S. investment pool. He pointed out that Apple has to borrow money to fund domestic operations since most of the company’s $256 billion cash is overseas.
Also, the tech giant has launched a new Apple’s new Job Creation webpage that highlights the company’s efforts to the U.S. workplace. It says: “The numbers tell the story. Apple is one of the biggest job creators in the United States, responsible for two million jobs in all 50 states. Last year, we spent over $50 billion with more than 9,000 U.S. suppliers and manufacturers. Since we launched the App Store in 2008, U.S. developers have earned over $16 billion in App Store sales worldwide. And we’re just getting started.”