Whilst overall manufacturing employment in the USA has dropped over the past few decades, advanced manufacturing has created around one million jobs. "We're announcing it today, so you're the first person I'm telling".
The company will start a $1 billion fund to boost up advanced manufacturing jobs in U.S.
Cook didn't disclose many details, as the fund was only announced amidst an interview with CNBC's "Mad Money" host Jim Cramer. The US is one of the leading producers of advanced technologies in the world, so it's little surprise that Apple is looking to further invest in this sector, especially as the company stands to directly gain from it.
Of these 2 million jobs, Apple says that 1,530,000 are attributable to the App Store ecosystem, 450,000 are linked to its US -based suppliers, and 80,000 work directly for the company.
"...we can be the ripple in the pond".
Mr. Cook said the company will announce the first investment from the fund later this month. Cook did not appear to suggest that his company's decision was influenced by Trump.
Further, Apple has employed workers across 50 states, including 80,000 company workers in areas like research and development, customer support, financial services and Apple's 271 USA stores.
Apple is highlighting its United States residence at the same time lawmakers reflect a significant tax plan by the Trump that would let Apple, along with another great company, bring back collected profits from overseas at potentially lower tax rates.
Apple intends to invest in programs that can train workers how to code - but much of the money for this effort will be borrowed rather than drawn from its substantial cash reserves, much of which Cook said are locked up overseas. Businesses may move their factories back to the United States, but because American workers are still more expensive to employ than robots, those corporate decisions may not lead to an uptick in hiring.
"I think the administration ... they're really getting this and want to bring this [money] back and I hope that that comes to pass", he said.