Tim Cook just announced $1 billion Apple fund to advance US manufacturing jobs

Manufacturing jobs probably aren't coming back to the U.S., but that's not stopping Apple from investing in U.S. job creation.

In an interview with CNBC, CEO Tim Cook announced a new $1 billion fund that would support advanced manufacturing jobs in the United States. Cook shared the news before Apple released new information about the make up of its workforce.

"We asked ourselves, how can we get more people to do advanced manufacturing in the United States?" Cook said. "And I'm proud to tell you that we're creating an advanced manufacturing fund. We're initially putting $1 billion in the fund."

Cook said in his CNBC segment that his interviewer was the first person he had told about this plan, besides staff at the company Apple plans to invest in. The tech giant will announce the fund's first investment later this month, explained Cook.

Apple also said Wednesday that it had created 2 million U.S. jobs — 1.53 million of which are jobs "attributable to the App Store ecosystem," not jobs directly under Apple.

In the past, President Donald Trump has criticized Apple for manufacturing its iPhones overseas, rather than in the United States, so who knows, maybe he'll take credit for Apple's latest jobs investment? (After all, Trump did take credit for Amazon creating new jobs back in January.)

We'll be waiting for the Trump tweet in response to this news.

16 PHOTOS
All-American brands that manufacturer overseas
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All-American brands that manufacturer overseas

L.L.BEAN

Retail company L.L.Bean flaunts itself as one of the few American brands that still operates a U.S. manufacturing facility. While that's true, the bulk of the company's products are manufactured in China, a fact that made headlines recently after Donald Trump encouraged people to buy its wares.

If you're interested in buying L.L. Bean items that are "Made in the USA," the signature Duck Boots and canvas Boat and Tote Bags are manufactured in Maine, according to the company website. The New England facility employs more than 400 people.

According to the privately held retailer, its $1.6 billion in net sales last year represented a slight uptick on 2015 numbers. The brand is highly trusted, in part owed to its stellar lifetime warranties.

REUTERS/Brian Snyder

LEVI STRAUSS & CO.

Levi Strauss been a staple of American denim for generations. Its products are durable, making them a great pickup when you're trying to save money on clothes over the long term. However, only particular styles are 100 percent American made. In fact, a quick search on the company's website produces just a handful of styles made start to finish in the U.S. The denim for these products comes from North Carolina, and the jeans themselves are constructed in Texas.

The rest of the brand's apparel line is made in Asia, with the company operating 17 factories in Bangladesh.

Levi Strauss (LVISF) stock has increased from $2.35 per share in April 2016 to $3.04 as of March 2017. 2016 marked the fourth consecutive year for profit growth.

REUTERS/Kai Pfaffenbach

NEW BALANCE

New Balance is another one of those so–called American brands that's not entirely made in America. In fact, New Balance manufactures just 4 million pairs of sneakers each year in the U.S., according to the company's website. That number represents only a fraction of total production, as most New Balance shoes are made in Asia, according to NPR.

If you want "Made in USA" athletic shoes from New Balance, note that they come with higher price tags.

New Balance is a privately traded company. In 2015, the business earned $3.7 billion in revenue, according to Forbes.

Related: 19 Ways to Save Money on Shoes

(Photo by Edward Berthelot/Getty Images)

RADIO FLYER

The red metal wagon helped make Radio Flyer one of the most iconic American brands. However, this beloved children's plaything is not made in the Chicago plant anymore. The famous red wagon has been a product of China since 2004, according to NBC News. Radio tricycles and scooters are also made in China, along with other assorted items.

According to Forbes, the company had $110 million in revenue as of January 2016.

(Photo by Robert Sabo/NY Daily News Archive via Getty Images)

MELISSA & DOUG TOYS

Melissa & Doug products can be found in many American households. The toy company made a name for itself by producing colorful wooden toys, games and puzzles and has achieved great success in today's technology-driven world despite its relative simplicity.

Boasting a handcrafted feel, these toys might seem as American as Lincoln Logs, but they're actually made in China. Still, parents can rest assured knowing the products are examined carefully for safety. The toys are tested multiple times including by the founders' Melissa and Doug and their children.

In 2016, ABC News said the company was worth $350 million.

Photographer: Jason Alden/Bloomberg via Getty Images

BRACH’S CONFECTIONS

Famous for its caramels, Brach's Confections has been a staple of American candy jars for more than a 100 years. Although "America's candy maker" graces the bag, in actuality some of these treats come from elsewhere.

In 2012, the candy brand merged with Ferrara Candy Company, which has production facilities in Mexico. To determine where the candy you buy is produced, you'll have to read the back of the bag carefully, as there's not a full disclosure on the company's website.

Brach's Confections is a privately held company founded in 1904. No recent financial statements are available to the public.

PHOTO: Julia Ewan/TWP 

U.S. MAJOR LEAGUE BASEBALLS

Baseball is practically synonymous with American culture, so you'd think that those pricey souvenir baseballs at MLB games would be American made. However, the manufacturer, Rawlings Sporting Goods, produces them in Costa Rica.

According to Reuters, workers spend 10 hours a day forming 108 stitches on every baseball. The balls are then shipped to Miami, where they'll eventually be used for only a few pitches each.

Rawlings is a private subsidiary of Newell Brands, which is publicly traded and includes products such as Rubbermaid and Sharpie.

REUTERS/Jason Reed (UNITED STATES)

FORD FUSION

Some American automakers don't deliver entirely on the American-made promise. The Ford Fusion is among America's best-selling vehicles, but it's made across the border in Mexico, according to AutoGuide. The model sold 265,840 units last year, making it one of the top sellers in the U.S. Other models like the Fiesta and Lincoln MKZ are also made in Mexico, according to the report.

Ford's stock dropped slightly at the end of the first quarter of 2017. Revenue has increased since 2014.

Photographer: Daniel Acker/Bloomberg via Getty Images

AMERICAN GIRL DOLLS

Boasting retail stores across the country and the word "American" in the name, American Girl seems like a company that would manufacture its famed dolls in the U.S. In actuality, these dolls are made in China like many other products by parent company Mattel.

According to the company's website, more than 29 million dolls have been sold since 1986. Although they're manufactured overseas, American Girl dolls are distributed from a warehouse in Middleton, Wis.

American Girl Brands, LLC, is a privately held company. The last financial statements, which were released in 2013, showed sales of $659 million, a 10 percent increase from 2012's figures.

(Photo by Matt McClain/For The Washington Post via Getty Images)

CHUCK TAYLOR ALL STARS

Although the shoes were first worn by basketball players, Chuck Taylor All Stars, also known as Converse All Stars, quickly became popular among non-athletes. Buoyed by musicians and celebrities, this brand has been around since the early 1900s.

Americans have worn them for generations, but these shoes haven't been manufactured in the U.S. since the early 2000s. In 2003, Nike bought Converse and moved production of All Stars and other styles to Asia.

2016 revenue decreased by 1 percent to $1.96 billion. Converse accounted for 6 percent of Nike's total revenue in 2016, according to Vault.

Find: 20 Retailers Like Target and Best Buy That Offer Free Shipping

(Photo by Joe Raedle/Getty Images)

RAM 1500

One of America's most popular vehicles is actually made south of the border. According to U.S. News & World Report, some Ram 1500 Regular Cab models are built in Saltillo, Mexico, in addition to Warren, Mich. The Ram pickup truck sold over 489,000 units last year, making it the third best-selling vehicle in the U.S., reported AutoGuide.

Ram is part of Fiat Chrysler Automobiles, or FCAU, a publicly traded company on the NYSE. Since April 2016, FCAU stock has increased from $7.73 to $10.96 per share. Revenue has been consistent for the past three years.

(Photo By Raymond Boyd/Getty Images)

IPHONES AND IPADS

Apple is known for being an innovative brand. More recently, it released a Clips app that competes with Snapchat. But, that's not what made the brand so popular.

The iPhone and iPad might feel as American as the pie that shares their name. However, even though Apple has its headquarters in California, manufacturing is done in China. According to Bloomberg, Apple had shut down its last U.S. manufacturing facility by 2004.

While Trump promised to get Apple to produce its devices in the U.S. again, there is no evidence of this happening in the near future.

Apple, Inc. (AAPL) is a publicly traded stock on the NASDAQ stock exchange. In 2015, the company saw a jump in revenue from the year before, but in 2016 both total revenue and gross profit decreased.

GERBER BABY FOOD

When you hear the word "Gerber," you probably think of the cute Gerber baby pictured on every label. Dating back to the 1920s, Gerber was the first baby food sold in American grocery stores, making it something of an institution. However, these days it's actually part of Nestle, the Swiss company best known for its chocolate.

Although Gerber does not disclose its manufacturing list on the website, Nestle states that the company has 418 factories in 86 countries.

Nestle (NSRGY) has increased its dividend share over time and offers a 2.99 percent yield. The company reported 46.3 billion in revenue or sales for 2016.

(Photo by Emile Wamsteker/Bloomberg via Getty Images)

RAY-BAN SUNGLASSES

Ray-Ban is among the most recognizable sunglasses around. And while the style is deeply ingrained in American culture, the brand is actually manufactured in Italy these days.

The iconic eyewear was once made in the U.S., but Bausch & Lomb sold the brand to Italian eyewear company Luxottica in 1999. According to Framesdirect.com, most Ray-Bans are made in Italy, but some are produced in China, where Luxottica also has factories. If you want American-made frames, you'll have to find vintage Ray-Bans.

Profits for Luxottica (LUX) dropped in 2016. The stock is currently close to its yearly high price of $55.08.

REUTERS/Kai Pfaffenbach/File Photo

PLAY-DOH

This colorful item has long been a favorite plaything for children. Although the moldable clay originated in Cincinnati in the 1950s, Play-Doh hasn't been produced in the U.S. for decades. It's actually a product of China, though this fact is set to change in the near future. According to the Wall Street Journal, Hasbro, the maker of Play-Doh, expects to open a production facility in Massachusetts by 2018.

Hasbro announced revenue of $5.02 billion last year. That's a 13 percent jump from the previous year.

Up Next: 7 Companies That Have Reinvested in America Following Trump's Election

Photographer: Tim Boyle/Bloomberg via Getty Images
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