Intel Negotiates For New Property Tax Breaks Worth Over $1 Billion

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Intel Negotiates For New Property Tax Breaks Worth Over $1 Billion

Intel Negotiates For New Property Tax Breaks Worth Over $1 Billion
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Intel Negotiates For New Property Tax Breaks Worth Over $1 Billion

by TheStreet.com Videos 1:01 mins

Days after shares surged on upwardly-revised forecasts for the year ahead, Intel is looking for another win. The chipmaker is reportedly negotiating with local government in Oregon to lock in property tax exemptions, a coup worth more than $1 billion over the next several years. Local newspaper 'The Oregonian' confirms Intel and officials are currently in talks, though they remain preliminary at this stage. The current deal in place exempts the company from paying property tax on up to $25 billion worth of equipment, though the company is on track to hit that exemption cap by as early as 2016.

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