Apple will build a $1 billion campus in Austin, Texas

The big picture: Just as President Donald Trump is set to meet Tim Cook at Apple's manufacturing plant in Texas, the company revealed its plans to build a new campus in the region. The tech giant has scored some exemptions on import tariffs for its products, especially now that a significant number of Mac Pro's will be made in stateside. Today, Apple announced it will start construction on a new campus in Austin, Texas, as the company is looking to expand its presence in the region. The company is committing $1 billion to the ambitious project, which is going to become operational as early as 2022 and house 5,000 employees.