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"The jobs involved in this expansion will not be there in the year 2000. We don't mean to say the plant (Philips) will shut down, but they will retool...probably with a new IRB proposal."Eric Schmieder, (SWOP) at 1995 hearing for Philips IRB.
Since 1985, Bernalillo County has seen a steady shift in the county's tax burden from non-residential to residential properties. Over the past year, residential property taxes in Bernallio County have increased on average 25%, in some cases as much as 1000%. The increase has been particularly difficult for senior citizens on fixed incomes. At the same time, Philips Semi-conductors is applying for a new 400 million dollar Industrial Revenue Bond, with 30 million dollars in property tax abatements, to retool their Albuquerque factory. Philip's '95 IRB proposal (200 million dollars) pledged 440 new jobs to the area. At the time, 1500 were employed at the Albuquerque factory. Presently, there are 950 employees. The new IRB proposal offers no new jobs.
Check out the Philips Fact Sheet!
The following web pages explain the negative effect of the IRB granted Philips in 1995 and impact of the proposed $400 million IRB to be heard August 7th 2000 during the City Council meeting. Most figures have been adjusted from the calculations of economist Brian MacDonald to include not only the city, but also local governments such as Bernalillo TVI, APS, and various medical clinics, which also affect our community. Please use the navigation menu at the bottom of the page for more information. Use the navigation menu to your left to learn more about SWOP and our other campaigns.
