“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.”
“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
Apple awards Corning $200 million in first Advanced Manufacturing Fund investment – May 12, 2017
Apple’s billion-dollar advanced manufacturing investment is a blueprint for U.S. job growth – May 4, 2017
Apple: We are one of the biggest job creators in the U.S., responsible for two million jobs in all 50 states – May 4, 2017
Apple to invest $1 billion to promote manufacturing jobs in the U.S. – May 4, 2017
Apple’s top manufacturing partner to meet with U.S. President Trump today – April 27, 2017
Apple could help Westinghouse in completing new nuclear plants – April 17, 2017
Apple supplier Sharp may begin building $7 billion U.S. plant in within months as Japan PM meets President Trump – February 8, 2017
Foxconn-Sharp considering LCD plant in USA, plans in response to President-elect Trump’s ‘Make in America’ call – January 13, 2017
With President Trump soon to take office, Apple looks to boost its ‘Made in America’ credentials – January 10, 2017
Make America Insanely Great Again: Apple seeks to expand Made in USA manufacturing – January 9, 2017
Apple invests $1 billion in SoftBank’s massive tech fund; may help company get in President Trump’s good graces – January 4, 2017
Softbank to invest $50 billion in the U.S., create 50,000 new tech jobs after meeting with President-elect Trump – and Apple supplier Foxconn is in on the deal – December 6, 2016
President-elect Trump invites tech leaders to roundtable in Manhattan next week – December 6, 2016
President-elect Trump tells Apple CEO Tim Cook that he’d like to see Apple make products in the U.S. – November 23, 2016
President-elect Trump says Apple CEO Tim Cook called him after election victory – November 22, 2016
Apple could make iPhones in the U.S.A. under President Trump, sources say – November 17, 2016
Thank You, Emperor God Trump!
We have come a long way from the “Food Stamps Economy”!
Trump takes credit for Apple’s work.
Sounds like him.
Returning jobs to America through increased import taxes?
Yes. God Emperor Trump did that.
But “muh Hillary”.