Apple CEO Tim Cook Wikimedia/Mike Deerkoski
Site selection for Apple’s new corporate campus in the U.S. will not go through a bidding process like Amazon’s HQ2. Apple CEO Tim Cook said the company has already narrowed down the list and does not plan to have an auction-style process, Reuters reports. Amazon released its HQ2 shortlist Thursday, narrowing down a playing field from 238 bids to 20. Show Full Story
Apple's second campus most likely will not be in California, where it has its Apple Park campus in Cupertino, or Texas, where it has a large customer service and computer assembly operation, Cook said in an interview with ABC News. The company plans to announce the location later this year.
The expansion, which will include additional data center and manufacturing operations, was due in part to the changes to the U.S. tax policy that allowed for additional capital commitments in the U.S., Cook said during the ABC News interview. The tech giant, which is one of the largest taxpayers in the country, will pay $38B in taxes on repatriated funds, said to be the largest ever of this kind.
The company plans to invest $30B over the next five years as part of its expansion, which Apple estimates will generate 20,000 jobs and contribute $350B to the economy.