IMPLEMENTATION LEVEL

Subnational

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 26 Aug 2014 | Removal date: open ended
Still in force

Tax or social insurance relief

Two units of local government in the state of Oregon, namely Washington County and the city of Hillsboro, announced on August 11, 2014 a deal with Intel that provided for three decades of property-tax breaks. County officials did not provide an estimate of how much money Intel will save in the deal, but press accounts suggested that the total could be in the neighborhood of $2 billion (i.e., about $67 million per year). The terms of the agreement were modeled on a deal that Intel negotiated in 2005 that requires the company to pay "full freight" property tax on its land and buildings, plus about $5 million a year in other payments. The new, 30-year agreement exempts up to $100 billion in Intel tools and equipment from property taxes that other businesses pay. Intel will pay regular property taxes on its land and buildings and the first $100 million of equipment. It will also pay $2.9 million annually for 20 years, plus a $2 million “community service fee,” and make a $100,000 charitable contribution in each of the next six years.

Washington County commissioners and the Hillsboro City Council approved the deal at a joint meeting on August 26, 2014.

AFFECTED COUNTRIES

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AFFECTED SECTORS AND PRODUCTS

471 Electronic valves & tubes; electronic components; parts
8542 Electronic integrated circuits.
854231 Processors and controllers, whether or not combined with memories, converters, logic circuits, amplifiers, clock and timing circuits, or other circuits
854232 Memories
854233 Amplifiers
854239 Other
854290 Parts

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