Apple CEO Tim Cook said that his company will start a $1 billion fund to promote advanced manufacturing jobs in the United States.
“We’re announcing it today. So you’re the first person I’m telling,” Cook told “Mad Money” host Jim Cramer on Wednesday. “Well, not the first person because we’ve talked to a company that we’re going to invest in already,” he said, adding that Apple will announce the first investment later in May.
The fund comes as President Donald Trump has made bringing back manufacturing jobs a big part of his agenda, and it fits into Apple’s larger effort to create jobs across its spectrum, from its own employees to app developers to its suppliers.
This is potentially good news.
I know very little about business and manufacturing, but I do know there’s a difference between starting a fund and paying directly for the creation of manufacturing plants which employ people.
I believe Tim Cook to be genuine in his intentions so let’s just see what happens.