Thursday, March 29, 2007
SWOP homepageIntel to TaxPayers and Employees: Eat Chips
"As the site converts to (newer technology), production will go up and efficiency will improve, but we will need a smaller work force," Jami Grindatto, public affairs manager for Intel's Rio Rancho site, told the Journal.
The message from Intel: Eat Chips.
This, following a recent 16B$ Industrial Revenue Bond deal worth tens of millions in tax breaks from the state of New Mexico.
We need big new ideas on the economy of one of the nation's poorest states. These ideas begin with an end to business as usual. No more patron politics. We should invest in our values and our children, not handouts to big, often out-of-state companies that really don't care about pitching in to our education and health care systems. As taxpayers, our investment must be able to stand the test of time and our values - not the latest fad in volatile markets.
Do you all hear that giant sucking sound? That's capital fleeing the state.
intel
intel layoffs
Rio Rancho
The message from Intel: Eat Chips.
This, following a recent 16B$ Industrial Revenue Bond deal worth tens of millions in tax breaks from the state of New Mexico.
From 3/27/07 ABQ Journal:So here's the deal. Taxpayers really don't benefit from these deals when economic hit men court the latest fad with corporate welfare incentives. Even more so when the jobs aren't guaranteed. If we had clawbacks in this deal (which SWOP pushed for and the Sandoval County Commision said were not needed because of Intel promises) Intel would have a much harder time laying off New Mexico families, and state and local governments may have some additional tax revenue.
...Over the years, Sandoval County has approved $24 billion in tax-abating industrial revenue bonds for Intel, including $16 billion in 2005...
Many of the employees hired in the 1990s for Fab 11 received high school diplomas and some training offered then by the company in conjunction with TVI, now Central New Mexico Community College.
Grindatto agreed.
"You never know how high it's headed, but it's safe to say a two-year degree is going to be a must" for future employment, he said.
We need big new ideas on the economy of one of the nation's poorest states. These ideas begin with an end to business as usual. No more patron politics. We should invest in our values and our children, not handouts to big, often out-of-state companies that really don't care about pitching in to our education and health care systems. As taxpayers, our investment must be able to stand the test of time and our values - not the latest fad in volatile markets.
Do you all hear that giant sucking sound? That's capital fleeing the state.
intelintel layoffsRio RanchoLabels: Intel
