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Apple pledges $1B toward creating manufacturing jobs in US

Apple CEO Tim Cook says the company also wants to increase its own employee base.

Apple CEO Tim Cook says the iPhone maker will create a fund dedicated to promoting creation of advanced manufacturing jobs in the US.

Apple said Wednesday it plans to create a $1 billion fund to promote creation of advanced manufacturing jobs in the US.

During an interview with CNBC, Apple CEO Tim Cook said the iPhone maker will announce later this month its first investment in an as-yet-unknown company, part of an initial investment of $1 billion. Cook also said Apple is looking at other initiatives, including increasing Apple's employee base and teaching people how to write computer code.

"By doing that, we can be the ripple in the pond," Cook said, suggesting that creating manufacturing jobs will spawn a new service industry around them.

The move appears tailor-made for President Donald Trump, who made US job creation a major issue of his campaign. Trump has also criticized Apple, promising to make the company start manufacturing its products in the US instead of China. Currently, Apple manufactures only its Mac Pro in the US.

Apple is the latest tech company to announce efforts to create new jobs in the US. In January, Amazon said it planned to create 100,000 new full-time, full-benefit jobs in the country over the next 18 months, expanding its US workforce to 280,000 -- up 56 percent from 2016.

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