Is Apple Expanding In Ireland?

In a report published Tuesday, JPMorgan analyst Rod Hall commented on reports that

is believed to be exploring a major expansion of its key Irish plant just months after completing a "massive" 300 million euro development. Apple has

since 1980 and has grown its workforce to over 4,000 employees that serve customers through sales, distribution, manufacturing, tech support and other critical functions. Hall noted that Apple's expansion could deliver a multi-million euro boost to the Cork construction sector and generate hundreds of new jobs. The analyst further added that the Cork facility is considered to be Apple's most important office outside of its Cupertino, California home base. "We estimate that Apple funnels approximately 59 percent of its global profits through its Irish subsidiaries," Hall wrote. "We believe it is likely that this expansion is aimed at increasing Apple's physical presence in Ireland which, in turn, would potentially provide support for Apple's Irish tax position." Hall