Apple said it's opening a new campus in the U.S. as part of a plan to pour billions of dollars into the domestic economy.

"The company plans to establish an Apple campus in a new location, which will initially house technical support for customers," Apple said in a statement Wednesday. "The location of this new facility will be announced later in the year."

The tech giant said more broadly that it plans to contribute $350 billion to the U.S. economy over the next five years.

Apple just finished $5 billion of renovations to its headquarters in Cupertino, California, and is now gearing up to expand its reach and its workforce.

It said it would create 20,000 new jobs "through hiring at existing campuses and opening a new one."

It's not the only U.S. tech giant planning a splashy new dwelling.

Amazon has been fielding proposals from cities in its own race for a so-called HQ2. The e-tailer is expected to name finalist cities in the next few weeks.

Correction: A previous version of this story said Apple was opening a second campus. The company already has campuses in Cupertino, California, and Austin, Texas.

Clarification: This story was revised to clarify that Apple said the $350 billion would be a "contribution" to the U.S. economy. An earlier version mischaracterized the statement.

Source: cnbc