“Apple is pouring $390 million into an American company that helps power AirPods and FaceID [sic] — an investment that will create 500 jobs in Texas,” Kaya Yurieff reports for CNN. “The money will come from a $1 billion fund that Apple established earlier this year to boost U.S. manufacturing jobs. Apple says the cash will help Finisar, a chip maker, restart a 700,000-square-foot manufacturing facility in Sherman, Texas, by the second half of next year. The new plant will create 500 ‘high-skill’ jobs.”

“Finisar produces ‘vertical-cavity surface-emitting lasers’ (VCSELs), which power some Apple’s newest features, including Face ID, Animoji, Portrait mode selfies and AirPods,” Yurieff reports. “The investment will go toward rebooting a previously closed 700,000-square-foot manufacturing facility in Sherman, Texas. The new plant, which will create 500 jobs, is expected to open in the second half of next year.”

Sherman, Texas will see an influx of 500 new jobs

Sherman, Texas will see an influx of 500 new jobs


 
“Finisar is the second company to receive an investment from Apple’s U.S. manufacturing fund. In May, Apple pledged $200 million to glass manufacturer Corning. The company makes Gorilla Glass displays for smartphones and tablets, including for Apple products. At the time, CEO Tim Cook teased Apple could add more money to the fund, calling the $1 billion an ‘initial’ donation,” Yurieff reports. “President Trump has been pushing Apple to move its manufacturing efforts from China to the U.S… Apple isn’t the only tech company adding more jobs to the U.S. Taiwanese electronics manufacturer Foxconn has pledged to invest $10 billion to build a factory that makes LCD screens in Wisconsin. The facility is expected to create between 3,000 and 13,000 new jobs and should be open by 2020.”

Read more in the full article here.

MacDailyNews Take: There’s still some $400 billion in Apple’s Advanced Manufacturing Fund and, hopefully, given Cook’s tease, there’s much more to come!

SEE ALSO:
How Apple and Finisar are transforming the future of Sherman, Texas – December 13, 2017
Apple awards $390 million to VCSEL-maker Finisar; award will create 500 high-skill jobs at Sherman, Texas facility – December 13, 2017
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