10 Tech Companies Investing The Most In America
Why does domestic investment matter?
Telecom, cable and internet companies enjoyed tremendous growth in domestic capital spending between 2007 and 2012, with the sector coming in behind only mining, according to the Progressive Policy Institute (PPI).
The PPI compiles a report each year of the U.S.-based companies with the most domestic capital expenditures in an effort to encourage economic growth based on production and investment. The PPI touts domestic investment as integral to creating jobs, boosting income and increasing productivity.
Excluding the financial and energy sectors, 10 of the top 25 largest domestic investors can be found in the technology arena. The amount and nature of this spending is detailed in subsequent slides.
AT&T: $20.94 billion
CEO: Randall L. Stephenson
For the third consecutive year, AT&T leads all U.S. companies in domestic capital expenditures at $20.94 billion, with its assets "predominantly in the United States."
The Dallas-based telecom company has invested significantly in expanding its U-verse fiber optic network, the PPI found.
The Federal Communications Commission also recently approved AT&T's application to begin Internet Protocol transition trials in Florida and Alabama as part of a gradual, complete transition to networks built for a wide variety of purposes.
In addition, the company is working to create workforce pathways outside traditional post-secondary education through its sponsorship of "nanodegrees" through online educator Udacity.
Verizon Communications: $15.44 billion
CEO: Lowell C. McAdam
Verizon has focused its $15.44 billion investment on building out its 4G LTE wireless network, according to the PPI.
The Manhattan-based broadband and telecom company also gets the silver medal for domestic capital spending from 2011 to 2013, coming in at $46.6 billion.
The company has some international operations, but didn't report any international distribution of assets, the PPI said.
Intel: $8.44 billion
CEO: Brian Krzanich
High-speed broadband fueled Intel's $8.44 billion domestic investment in 2013, the PPI found.
The Santa Clara, Calif.-based semiconductor chip maker completed construction on a new large-scale wafer fabrication facility in Arizona, reserved for future computing processor technologies, and began building a development fabrication facility in Oregon.
Comcast: $6.6 billion
CEO: Brian Roberts
Comcast boosted its domestic capital spending in 2013 to $6.6 billion, moving it from 10th to seventh among all U.S. companies (and fourth among tech companies).
The Philadelphia-based cable, telephone and Internet service provider has invested heavily over the past year in X1 cable platform equipment, wireless gateways and network capacity, according to the PPI.
Google: $4.7 billion
CEO: Larry Page
Google's domestic capital spending rebounded to $4.7 billion, the PPI found, taking it from outside the top 25 in 2012 to 12th among all U.S. companies in 2013 (and fifth among tech companies).
Public filings indicate that the Mountain View, Calif.-based company invested heavily in production equipment, data centers and real estate purchases to manage increased Internet traffic, advertising transactions and new products and services.
Apple: $3.81 billion
CEO: Tim Cook
Coming in at $3.81 billion, Apple's domestic investment jumped from 24th among all U.S. companies in 2012 to 15th in 2013 (and sixth among tech companies).
The PPI found that increased spending for the Cupertino, Calif.-based company was focused on product tooling, manufacturing process equipment, retail stores and corporate facilities.
Time Warner Cable: $3.2 billion
CEO: Robert D Marcus
The $3.2 billion spent by Time Warner cable on plants, property or equipment comes primarily from U.S. operations, the PPI found.
CEO: Satya Nadella
Microsoft's domestic investment for fiscal year ending in August 2014 clocked in at $3.06 billion, according to the PPI.
Public filings indicate that the Redmond, Wash.-based company focused on its cloud and devices in 2013, spending money on data centers, facilities and computer systems.
Amazon: $2.65 billion
CEO: Jeff Bezos
Amazon maintained strong North American spending levels of $2.65 billion in 2013.
The Seattle-based company invested in more fulfillment centers and technology infrastructure for its Internet-based services, the PPI found.
The company's North American investment is almost entirely in the U.S., the PPI said, with minimal amounts in Canada.
IBM: $1.96 billion
CEO: Ginni Rometty
IBM, Armonk, N.Y., spent $1.96 billion in 2013 on plants, property and equipment in the U.S., according to the PPI.