Apple to open $1bn Austin campus despite ‘peak iPhone’ concerns

Apple is building a new $1 billion campus in Austin

Apple is building a new $1 billion campus in Austin

Apple ($NASDAQ:AAPL) announced today that it would be spending $1 billion to open a new campus in Austin, Texas.

The new North Austin campus will span 133 acres and initially accommodate 5,000 employees, eventually increasing to 15,000.

The new Austin jobs are expected to mirror the same mix Apple already has at its existing campus, ranging from jobs in technology and research that pay well over $100,000 to lower-paying positions in customer call centers. It will be less than a mile from existing Apple facilities.

There's more to come.

Apple will also set up sites in Seattle, San Diego and Culver City, California while expanding operations in Pittsburgh, New York and Boulder, Colorado over the next three years. After many small cities spent millions to lure the company, it went with New York City and the Virginia suburbs of Washington, DC.

The news of Apple's United States expansion came as Microsoft bought up 130 hectares of land in Sweden, paying two municipalities a total of $29.6m for the two plots. The tech giant also said it plans to expand in Boulder, Pittsburgh and NY.

Earlier this year, Daily Hive reported that Apple had leased 60,000-sq-ft of office space within the under-construction 400 West Georgia Street tower in downtown Vancouver.

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Apple will also invest $10 billion in United States data centers over the next five years, with plans to spend $4.5 billion this year and next.

That's faster than the 4.6% national average for cities and large suburbs, but it's not necessarily out of place in the Lone Star State, which we named one of the best places to live in the country for 2018 due, in part, to its high job growth.

Apple employees by USA state.

Apple has announced a significant expansion across the USA, including an expanded presence in Austin, a city where it now employs over 6,000 people.

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. It expects to create 5,000 jobs in the city.

Apple's scattershot expansion reflects the increasing competition for engineers in Silicon Valley, which has always been the high-tech capital in U.S.

While smartphone providers like Samsung and Motorola have already announced plans for 5G phones, Apple lags behind. In total, Apple plans to increase its workforce in the USA from 90,000 to 110,000 by 2023. Apple has been creating new jobs at an astonishing rate over the last few years.

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