Subsidy Tracker Individual Entry

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: 
MEGADEAL
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: 
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