Apple announced it will contribute $350 billion to the U.S. economy over the next five years, thanks in part to new tax regulations, and will bring almost all of the $250 billion in profits it has stashed overseas back to the U.S.
But just how Apple plans to spend those dollars could be very telling—particularly if the company starts investing in infrastructure initiatives, according to Jeff Cunningham, professor of global leadership at Arizona State University’s Thunderbird School of Global Management.
Apple says that $75 billion of its contribution will go toward planned capital expenditures in the U.S., investments in American manufacturing and $38 billion in tax payments on repatriation of overseas cash. The company also expects to build a new corporate campus and create 20,000 jobs in the next five years.
“Politically, the emphasis on repatriating to the American economy is well known but is not the only factor. What the news media has missed is that the relationship between repatriating overseas profits and going local,” Cunningham told Chief Executive. “Apple and other high-tech companies are anxious to participate in the infrastructure build. Everyone assumes will happen once the government gets its spending act under control, particularly with the 2018 Congressional elections within shouting distance. This will provide multiple opportunities to Apple, whether it is self-driving cars or running entire grid systems in cities on AI.”
In the short-term, Apple plans on focusing its contribution on areas such as job creation.
“We believe deeply in the power of American ingenuity, and we are focusing our investments in areas where we can have a direct impact on job creation and job preparedness,” Apple CEO Tim Cook said in a statement. “We have a deep sense of responsibility to give back to our country and the people who help make our success possible.”
Apple said it expects to invest more than $30 billion in capital expenditures over the next five years and creating more than 20,000 new jobs through hiring at existing campuses and opening a new one. The company currently employs 84,000 workers.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
