Update: Trump has called Apple’s announcements today a “huge win for American workers and the USA.”

Apple today has announced a new commitment to contribute $350 billion to the US economy over the next five years. The news also includes the company’s expectations to create thousands of new jobs and how its US operations will grow with a new campus.

I promised that my policies would allow companies like Apple to bring massive amounts of money back to the United States. Great to see Apple follow through as a result of TAX CUTS. Huge win for American workers and the USA! https://t.co/OwXVUyLOb1

— Donald J. Trump (@realDonaldTrump) January 17, 2018

Apple announced the news in a press release today titled, Apple accelerates US investment and job creation. Included are plans on ‘Growing Apple’s US Operations’, ‘Investing in Apple’s Domestic Suppliers and Manufacturing Partners’, and ‘Preparing Students for the App Economy’.

The headline news is that Apple will invest $350B in the US economy over the next five years, and is on track to spend $55B with domestic suppliers and manufacturers in 2018 alone.

The company expects to create 20,000 more jobs “at Apple” by 2023. Apple already has over 84,000 employees in the US. It is also allocating $5B (up from $1B) to the Advanced Manufacturing fund, and says that is currently does business with 9,000 American suppliers across all 50 states.

The announcement also makes mention that the company plans to repatriate roughly $245B of its overseas cash resulting in a reduced $38B tax bill (based on the one-time 15.5% rate).

Notably, even though Apple Park is still nearing completion, the company has plans for another new US based campus.

The press release also makes mention that all of Apple’s US offices, stores, and facilities run on 100% renewable energy.

CEO Tim Cook shared strong and positive sentiment on the US investments.

As for ‘Preparing Students for the App Economy’ the company touts its Swift Playgrounds app and Swift language as “powerful yet easy to learn,” and notes that over 100,000 students and teachers have experienced a coding class at an Apple Store.

Apple also has plans to bring more educational opportunities to teachers and students through its ConnectED program, thought the press release doesn’t provide specifics.

Read the full press release below or at Apple’s Newsroom:

Planned capital expenditures in the US, investments in American manufacturing over five years and a record tax payment upon repatriation of overseas profits will account for approximately $75 billion of Apple’s direct contribution. “Apple is a success story that could only have happened in America, and we are proud to build on our long history of support for the US economy,” said Tim Cook, Apple’s CEO. “We believe deeply in the power of American ingenuity, and we are focusing our investments in areas where we can have a direct impact on job creation and job preparedness. We have a deep sense of responsibility to give back to our country and the people who help make our success possible.”

Apple, already the largest US taxpayer, anticipates repatriation tax payments of approximately $38 billion as required by recent changes to the tax law. A payment of that size would likely be the largest of its kind ever made.

Apple will spend an estimated $55 billion with US suppliers and manufacturers in 2018. Growing Apple’s US Operations Apple expects to invest over $30 billion in capital expenditures in the US over the next five years and create over 20,000 new jobs through hiring at existing campuses and opening a new one. Apple already employs 84,000 people in all 50 states. The company plans to establish an Apple campus in a new location, which will initially house technical support for customers. The location of this new facility will be announced later in the year. Over $10 billion of Apple’s expanded capital expenditures will be investments in data centers across the US. Over the last decade, Apple has invested billions of dollars in data centers and co-located facilities in seven US states, including North Carolina, Oregon, Nevada, Arizona and a recently announced project in Iowa. Today, Apple is breaking ground on a new facility in downtown Reno, which will support its existing Nevada facilities. All of Apple’s US facilities, including offices, retail stores and data centers, are powered by 100 percent renewable energy sources like solar, wind and micro-hydro power, which Apple generates or purchases from local projects. The new campus announced today will also be powered entirely by green energy. Investing in Apple’s Domestic Suppliers and Manufacturing Partners

Workers at a factory in Texas that manufactures vertical-cavity surface-emitting lasers (VCSELs), empowering Face ID, Animoji and other iPhone X features. Building on the initial success of the Advanced Manufacturing Fund announced last spring, Apple is increasing the size of the fund from $1 billion to $5 billion. The fund was established to support innovation among American manufacturers and help others establish a presence in the US. It is already backing projects with leading manufacturers in Kentucky and rural Texas. Apple works with over 9,000 American suppliers — large and small businesses in all 50 states — and each of Apple’s core products relies on parts or materials made in the US or provided by US-based suppliers. Preparing Students for the App Economy

Students learn to code with Swift, a simple and fast open source coding language for apps that run on iOS, macOS, watchOS and tvOS. Apple, which has a 40-year history in education, also plans to accelerate its efforts across the US in support of coding education as well as programs focused on Science, Technology, Engineering, Arts and Math (STEAM). The iOS app economy has created more than 1.6 million jobs in the US and generated $5 billion in revenue for American app developers in 2017. With demand for coding skills stronger than ever, today there are more than 500,000 unfilled programming-related positions across the country, and the US Bureau of Labor Statistics predicts that by 2020 there will be 1.4 million more software development jobs than applicants qualified to fill them.1 To address the coding skills gap and help prepare more people for jobs in software development, Apple created a powerful yet easy-to-learn coding language called Swift, the free Swift Playgrounds app and a free curriculum, App Development with Swift, which are available to anyone and are already being used by millions of students at K-12 schools, summer camps and leading community colleges across the country. Over 100,000 students and teachers have also attended coding classes at Apple retail stores. Apple will expand these initiatives and add new programs to support teachers and teacher training. The company is also increasing funding for its ConnectED program, so students in historically underserved communities have a chance to learn app coding skills and enjoy other benefits of technology in the classroom.