DETROIT (Michigan News Source) – Apple is committing $500 billion to the U.S. economy, including establishing an Apple Manufacturing Academy in Detroit.

The company announced the initiative on Monday, and officials said this marks “an extraordinary new chapter in the history of American innovation.”

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In a statement, Apple said, “This new pledge builds on Apple’s long history of investing in American innovation and advanced high-skilled manufacturing, and will support a wide range of initiatives that focus on artificial intelligence, silicon engineering, and skills development for students and workers across the country,” the statement said.

That’s not the only economic news for Michigan. Apple also plans to expand teams and facilities in the Great Lakes State along with Texas, California, Arizona, Nevada, Iowa, Oregon, North Carolina and Washington.

Apple plans to roll out the initiative over the next five years and hire 20,000 new employees to focus on research and development, silicon engineering, artificial intelligence and machine learning.

The tech giant’s announcement comes after President Donald Trump hinted at the plans late last week.