Monday, March 7, 2005
Intel is offering U.S. states the promise of dollars of capital investment in exchange for an overhaul of their tax laws, which it says are making the United States less competitive than other regions of the world.
The company is now heavily lobbying officials in Arizona and Oregon for tax cuts that could save the company tens of millions of dollars a year in property and income taxes, according to a news source.
Critics say Intel is playing local governments off of one another to reduce its state tax burden to virtually nothing.
Intel executives say they can only be expected to push for competitive tax laws when other regions offer so much. The company points to a report it sponsored that shows its presence creates a "multiplier effect" on local economic growth. Executives also hint the company can always pick up and leave.
Intel will spend about $5 billion this year on its factory network.
By: DocMemory
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