Company: Intel Parent Company: Intel Subsidy Source: multiple Location: New Mexico City: Rio Rancho County: Sandoval Project Description: computer chip plant Year: 1993 Major Industry of Parent: electrical and electronic equipment Specific Industry of Parent: semiconductors Subsidy Value: $645,000,000 Program Name: multiple Awarding Agency: multiple Type of Subsidy:
Source of Data: The subsidy value comes from: John Borland, "Company towns: The cost of tax breaks," CNET News.com, November 13, 2003. Notes: The largest portion of the subsidy came from property tax abatements linked to the issuance of taxable industrial revenue bonds (IRBs). The Boland article provided the following breakdown: $155 million in county property tax abatements, $100 million in state investment tax credits, $300 million in state compensating tax abatements, and a $90 million state corporate income tax reduction. These figures were as of 2003, before a new IRB/abatement deal was struck. Overlaps with main Subsidy Tracker data: none. Source Notes: If an online information source is not working, check the Tracker inventory page for an updated link.