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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
Subsidy Value in 2023 Dollars: $1,346,647,305
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: If an online information source is not working, check the Tracker inventory page for an updated link.