Apple Set To Build New $1 Billion Campus In Texas

Apple is building a new $1 billion campus in Austin

Apple picks Austin for new campus

Apple is planning a major expansion of its operations across the US, including a $1 billion investment in a new campus in Austin, Texas, the company announced Thursday. Apple will also invest in new sites across other cities around the country.

Austin already has the largest population of workers outside of its headquarters in Cupertino, California, at 6,200.

Apple announced this morning that it will spend $1 billion to open a new campus in the southern tech hub of Austin, Texas, and that it will open new offices and add 1,000 new jobs each to San Diego, Seattle, and Culver City, California, which is a municipality in the heart of Los Angeles.

This year, Apple said it added 6,000 jobs to its American workforce, where it now employs 90,000.

Apple plans to create 20,000 new jobs in the U.S.by 2023.

Apple has a market capitalization of about $803 billion, making it one of the world's most valuable firms, but the company's stock price has been under pressure due to concerns about declining demand for new iPhones.

Alphabet's (GOOGL) Google, meanwhile, said it plans to add 14,000 jobs in NY over the next decade. The new Vancouver space, adjacent to a cluster of new Amazon offices, is expected to become a new major corporate office that could potentially employ as many as 1,000 people.

Apple's lengthy blog post about the expansions went into some detail on the new Austin campus-it will be located in North Austin and it will occupy 133 acres. The site, according to Apple, will have the capacity to eventually accommodate 15,000 employees.

"Apple has been a vital part of the Austin community for a quarter century, and we are thrilled that they are deepening their investment", Austin Mayor Steve Adler said on Thursday. "Talent, creativity and tomorrow's breakthrough ideas aren't limited by region or zip code, and, with this new expansion, we're redoubling our commitment to cultivating the high-tech sector and workforce nationwide".

Apple is also looking to invest $10 billion in its data centers located in the United States over the next 5 years.

While CEO Tim Cook has steered mostly clear U.S. President Donald Trump's ire, Apple did receive some push back three months ago from the White House. In Iowa, preparations are underway for the company's newest data center in Waukee.

Apple, maker of all things "i" - iPhone, iPad, I don't even know - is embarking on a massive expansion in the Austin area.

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