Apple plans second campus

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Watch: Apple CEO Tim Cook visits new downtown Reno facility

Apple (AAPL) on Wednesday said it will create 20,000 new jobs and establish a new us -based campus as part of $350 billion in new "direct contribution" to the economy.

Apple said on Wednesday that it will pay US$38 billion in USA taxes in a one-time payment.

Apple said it would invest more than US$30 billion in capital expenditure and create more than 20,000 new jobs.

It has also lobbied for the ease tax rates on foreign profits brought back to the USA, saying that such changes would allow the company to invest more freely in the US economy.

Apple, already the largest U.S. taxpayer, anticipates repatriation tax payments of approximately $38 billion as required by recent changes to the tax law. Cook refused to "take a position" on how the new tax plan will affect individual Americans but commented on the corporate tax saying, "I do believe the corporate side will result in job creation and a faster growing economy".

The new plans for Apple contributions to the United States economy were revealed in a press release today. However, it's a departure from the huge share repurchases analysts were counting on to support Apple stock, thanks to the tax reform and upcoming cash repatriation.

But most Apple products are assembled in China, mainly by Foxconn Technology, which makes the iPhone and a number of other products.

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However, the Syrian government warned against any aerial assault on its territory, Agence France-Presse reported. Turkish Armed Forces have retaliated to attacks made by the Kurdish militia in northern Syria in early Thursday.

The US-based tech company said 100 percent renewable or green energy sources like solar, wind and micro-hydro power, is powering all of Apple's US facilities, including offices, retail stores and data centers.

Cramer also said Apple's private investment will do more to create wealth and job opportunities than a government program. That new campus will initially house technical support for customers and will be announced later in the year. Currently, Apple employs 84,000 people nationwide in all 50 states. This does not factor in the company's ongoing tax payments and after repatriating overseas profits, it will pay the United States government $75 billion in taxes.

The next facility of Apple is yet to be disclosed.

Secondly, Apple is investing $5 billion in the advanced manufacturing fund.

A small part of Apple's products are made in the United States on contract.

Investors have, however, said they'd give the company more flexibility for future buybacks or pay dividends.

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