free geoip

Thursday, September 07, 2006

SWOP homepage  

Intel Layoffs Could Hurt Intel's Tax Breaks

MetroWestDailyNews.com is reporting that recent Intel layoffs won't affect a TIF accord Intel has with Hudson, Mass.
Even with recent job cuts, Intel employs more people than required by a tax increment financing, or TIF, agreement it has with Hudson, according to Paul Blazar, the town's executive assistant.
Intel's 1999 TIF called for 450 new local jobs when the company employed about 1,200, Blazar said. The number of jobs leaving Hudson, mostly through attrition, "doesn't sound like a tragedy to me," he said.
No word as of yet on the number of layoffs at Intel's Rio Rancho facility, or how much the layoffs will affect Intel's Industrial Revenue Bond agreement with Sandoval County. A clawback provison - designed for states and local governments to recoup taxes when companies don't live up to their end of the bargain - was included in 2004's IRB package that required the chip giant to maintain its current workforce population.









# posted by karlos @ 1:10 PM
Comments:
Personally, I think Intel is getting off WAY too easy with the devastation that they are doing to the Rio Rancho NM community. They are laying off up to 1/3 of the work force. I have yet to see anything that says that they have been penalized and made to pay back ANY of the IRBs that they have sucked up from this area. I hope nobody buys Intel products anymore, as they are showing themselves to be less than a good company to have in the community. These layoffs are a direct result of them taking jobs overseas (and to communist countries at that!)
# posted by Anonymous Anonymous : 7:51 AM
 
Post a Comment

Links to this post:

Create a Link



<< Home

This page is powered by Blogger. Isn't yours?