Intel deal with Oregon locals could save them up to $580 million

Posted on Sunday, April 24 2005 @ 19:47 CEST by Thomas De Maesschalck
Years ago Intel was granted to spend up to $12.5 billion on buildings in Oregon without paying property taxes. The deal ends soon and Intel asked the local government to extend the deal to another $25 billion without tax bills.

The 15-year long deal could save the chip giant up to $580 million in taxes. The locals will probably agree, stating that it helps Oregon to compete with other places which may attrackt future Intel investment.
Intel may not even build or extend its properties in the area and has no plans to do so at this time. But it obviously likes to keep its options open.
Intel is the biggest employer in Oregon, with about 15,500 people working at its fabs.

More info at The Inquirer

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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