HILLSBORO, Ore. (AP) — Local officials have approved a tax break for Intel that could be worth about $2 billion during its expansion in Washington County west of Portland.
The Oregonian (https://bit.ly/1opdeiq) reports that Intel is the state’s largest private employer, with 17,500 employees.
In recent years, the chip-making giant has been building manufacturing capacity at an accelerated rate.
A 1993 state law is designed to attract high-tech manufacturers, whose tools and equipment depreciate rapidly.
Intel has previously negotiated four agreements with local officials under the law and said it’s now bumping up against the limits in the current one.
Some residents and tax watchdogs objected to the tax breaks, but they had support from local officials. The Hillsboro City Council and the county commissioners met Tuesday night to approve the deal.
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Information from: The Oregonian, https://www.oregonlive.com
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