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Thread: Yet Another Reason to Loathe Big Greedy Corporations

  1. #1
    SiriuslyLong is offline
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    Yet Another Reason to Loathe Big Greedy Corporations

    Intel to Build $5 Billion Chip Factory in Arizona

    By Christian Zibreg, The Bright Side of News* | More Articles
    February 21, 2011 | Comments (0)

    Intel (Nasdaq: INTC), the world's largest chipmaker, announced this past Friday plans to build a new $5 billion-plus factory dubbed Fab 42. Located at its site in Chandler, Ariz., and billed as "the most advanced high-volume semiconductor manufacturing facility in the world," it will create more than 4,000 permanent jobs in the country this year and enable the company to explore a process for creating transistors with a minimum feature size of 14 nanometers.

    This will pave the way for a more powerful and energy-efficient chips that will power even thinner mobile devices. Construction is set to begin in the middle of this year, and completion is expected the following year. The facility will help keep jobs in America in times when more than three-quarters of the company's sales come from outside the country.

    Read the rest right HERE: http://www.fool.com/investing/genera...n-arizona.aspx

    So how did this happen? Some will cite corporate welfare I'm sure.

    http://tucsoncitizen.com/arizona-new...ech-positions/

    Or try this one: http://yourwestvalley.com/topstory/a...cc4c03286.html

  2. #2
    Atypical is offline

    Good For Intel But...

    ,,,

    Intel did not rely on new incentives included in a job bill signed this week by Gov. Jan Brewer when deciding to expand in Arizona, executives said. They cited existing tax benefits, such as a research-and-development credit, foreign-trade zone and a “sales factor” change originally passed in 2005 that is now expanding.

    The state Legislature in 2005 passed legislation that helped companies such as Intel that have expensive facilities and high wages but sell little within the state.

    A “sales factor” change allowed companies to calculate corporate-income taxes based solely on in-state sales if they made an investment of $1 billion or more in a new project.

    “To be honest, when we changed the sales-tax factor . . . that’s when Intel was making the decision to either divest from Arizona or stay in Arizona,” said Barry Broome, president/CEO of the Greater Phoenix Economic Council.

    The foreign-trade-zone status for Intel’s property reduces state and local property taxes for the company.

    “This $5 billion, Intel is not going to pay taxes on that investment,” he said. “It is in a foreign-trade zone. The taxes are abated.”
    ...

    The sales factor has been 80 percent and now will increase to 100 percent in January 2014.

    Intel also could benefit from a tax credit included in the bill’s Quality Jobs program. It provides a credit of $3,000 per new hire, capped at 400 jobs per project.

    Don Cardon, Commerce Authority CEO, said he didn’t know if Intel would seek the credit, which his agency will oversee.


    http://azstarnet.com/business/local/...cc4c002e0.html

    ____________________________________________
    This is great for Arizona but Intel does get concessions. And this "good news" does not diminish, in any way, the tremendous nastiness that corporations are responsible for all over the world. Let's keep everything in mind - not just one or the other - and let's also understand the amounts of each.
    Last edited by Atypical; 02-21-2011 at 03:23 PM.

  3. #3
    SiriuslyLong is offline
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    Joined: Jan 2009 Location: Ann Arbor, MI Posts: 3,560
    The second and third links posted contained the info you reposted.

    I'm glad for republican governor Jan Brewer lol. She's a real "jobs creator". A true leader.

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