Apple said it will invest more than $430 billion over the next five years to add more than 20,000 new jobs in the U.S. and bolster the development of silicon to support 5G equipment and infrastructure.

The company said the investment would target American suppliers, data center investments, capital expenditures in the U.S., and its Apple TV+ productions. North Carolina is a particular beneficiary of the announcement, with the state targeted to receive more than $1 billion that includes construction of a new campus and engineering hub in the Research Triangle area that will create at least 3,000 jobs.

“We’re creating jobs in cutting-edge fields — from 5G to silicon engineering to artificial intelligence — investing in the next generation of innovative new businesses, and in all our work, building toward a greener and more equitable future," Apple CEO Tim Cook explained in a statement.

Other states specifically cited for investment include California, Colorado, Massachusetts, Texas, Washington, and Iowa.

Apple said the plan builds on its original five-year investment goal announced in 2018 that called for spending $350 billion, which the company noted is has already “significantly outpaced.”

The move also comes as President Joe Biden is reportedly set to introduce a new tax plan targeting highly profitable technology firms to help fund infrastructure projects. Apple noted in its press release that it was the largest taxpayer in the U.S., having paid more nearly $45 billion in domestic corporate income tax over the past five years.