The chipmaker is talking to local governments about a new package of property tax exemptions that could be worth more than $1 billion over several years.
The chipmaker is talking to local governments about a new package of property tax exemptions that could be worth more than $1 billion over several years.
The tax breaks come via the state’s Strategic Investment Program, an incentives framework that Intel pushed the Oregon Legislature to establish in 1993. It will save the company more than $120 million in the current year alone, according to Washington County, and close to $600 million over the life of the current deal.
Intel has long argued that the scale of its Oregon activity – Washington County is its largest site anywhere, and home to its manufacturing group – would be financially prohibitive if the company paid full freight on the property taxes for that equipment. The company has 17,000 employees in the state, more than any other business.
Read more at OregonLive.com
