EVGA

Intel Investing $3.5 Billion in New Mexico, 10-Digit US Government Subsidies

Author
Xavier Zepherious
CLASSIFIED ULTRA Member
  • Total Posts : 6746
  • Reward points : 0
  • Joined: 2010/07/04 12:53:39
  • Location: Medicine Hat ,Alberta, Canada
  • Status: offline
  • Ribbons : 16
2021/05/03 12:09:26 (permalink)
Intel Investing $3.5 Billion in New Mexico, 10-Digit US Government Subsidies Still Haven’t Landed Yet
 
Intel said it's in the process of hiring an additional 700 staff as the facility expands. The company employees 1,800 personnel on-site. Intel is expected to hire 1,000 construction workers starting this year and spend $550 million on construction and new infrastructure, according to a statement from New Mexico’s government. 
All this comes on the heels of Intel’s renewed push back into manufacturing with its IDM 2.0 foundry plan. Intel has committed to investing $20 billion in Arizona for two new fabs as increasing domestic capacity for semiconductor manufacturing becomes a hot topic in the US. 

Intel is Getting Cash From New Mexico

As part of Intel’s announcement, New Mexico’s state government announced that a portion of taxes Intel pays on its construction spending can be rebated back to the company. This is expected to be valued at up to $14 million, split between the state and the local governments of Rio Rancho and the surrounding County. 
 
https://wccftech.com/intel-investing-3-5-billion-in-new-mexico-10-digit-us-government-subsidies-still-havent-landed-yet/
 
 
----------------------------------------------------------------
 
 
subsidize business??? what a crock
 
people pay more taxes yet biz get tax havens and breaks
 
 
why not change things by taxing inports - making anything that is made cheaply - with no green tax or Labor taxes -
ie-  level the playing field - put taxes on things that don't have carbon taxes or polution tax on it and put taxes for unfair employment advantages - like no labor laws..like no min wage, slave labor , no health care, no unions
 
you can't compete fairly if companies use countries that use slave labor, or poor wages, or living conditions and can treat tose people and those govs unfairly - greasing only the political leaders pockets and the people get shafted
 
basically the few get rich while everyone else get shafted - this is capitalism at its worst - GREED
 
fair trade exists only when there is a fair playing field
post edited by Xavier Zepherious - 2021/05/03 12:14:34


Primes found     Affiliate Code:YN2AHK39LH



 
#1

11 Replies Related Threads

    rjohnson11
    EVGA Forum Moderator
    • Total Posts : 102323
    • Reward points : 0
    • Joined: 2004/10/05 12:44:35
    • Location: Netherlands
    • Status: offline
    • Ribbons : 84
    Re: Intel Investing $3.5 Billion in New Mexico, 10-Digit US Government Subsidies 2021/05/03 12:34:24 (permalink)
    Tax breaks for companies exists worldwide and been around for a long time. 
     
    However Intel should just suck up the costs themselves in my personal opinion instead of relying on subsidies and tax breaks. 

    AMD Ryzen 9 7950X,  Corsair Mp700 Pro M.2, 64GB Corsair Dominator Titanium DDR5  X670E Steel Legend, MSI RTX 4090 Associate Code: H5U80QBH6BH0AXF. I am NOT an employee of EVGA

    #2
    Arztt
    New Member
    • Total Posts : 37
    • Reward points : 0
    • Joined: 2021/04/11 15:43:00
    • Status: offline
    • Ribbons : 0
    Re: Intel Investing $3.5 Billion in New Mexico, 10-Digit US Government Subsidies 2021/05/03 12:45:23 (permalink)
    Does this mean that they will step up production?
     
    #3
    Star_Hunter
    Superclocked Member
    • Total Posts : 105
    • Reward points : 0
    • Joined: 2009/07/30 18:57:37
    • Status: offline
    • Ribbons : 0
    Re: Intel Investing $3.5 Billion in New Mexico, 10-Digit US Government Subsidies 2021/05/03 13:20:26 (permalink)
    Takes 2-3 years for these to come online, so no.
    #4
    Arztt
    New Member
    • Total Posts : 37
    • Reward points : 0
    • Joined: 2021/04/11 15:43:00
    • Status: offline
    • Ribbons : 0
    Flagged as Spam (1)
    Re: Intel Investing $3.5 Billion in New Mexico, 10-Digit US Government Subsidies 2021/05/03 13:21:46 (permalink)
    Schiesse
    #5
    Grey_Beard
    CLASSIFIED Member
    • Total Posts : 2233
    • Reward points : 0
    • Joined: 2013/12/23 11:50:37
    • Location: The Land of Milk and Honey
    • Status: offline
    • Ribbons : 10
    Re: Intel Investing $3.5 Billion in New Mexico, 10-Digit US Government Subsidies 2021/05/03 14:51:12 (permalink)
    Unfortunately, the consumer has no regard for what you are asking.  Is it really governments role to enforce moral standards?  It should be the consumer who does that.  Do not buy products that do add to the climate change problem or companies who use slave or child labor to assemble their products.  Before you know it many will then be asking for government to stay away because they “are to involved in my daily life.”
     
    America is the ultimate open market.  Is that not what capitalism is all about?  It is interesting that we have benefited more than any single country through globalization, but some how we now want “even” playing fields.  Jobs evolve and some of the earlier manufacturing jobs are gone, never to return.  Most of it from efficiencies and automation (robots) and not due to export to another country.  How do we help individuals who want to have a job in field that is dying or dead and do not want to be trained in something that will be more in line with the needs of today?  Automation is the single biggest factor in the reduction of manufacturing jobs in the United States.
     
    America has always had the field tilted its way, but that is because we have the innovation, market and dollars to sway it.  Protectionism does not work, never has, never will.  If we put tariffs on sub-standard goods, who determines what is “sub-standard?”  Are you really ready to walk into a Walmart and have very little on the shelves, as the once “Made in America” retailer has virtually nothing made in America to sell on its shelves.  Maybe if consumers did not chase the lowest price products without regard for what that does, we would not be here.  Heck we cannot even get people to stop buying from scalpers of GPUs and those are not even necessity item, but I am sure some on this forum think they are.
     
    The business may get a tax break, but the $14 Million price tag is a relatively reasonable price, given the overall economic jolt the County and State will get from the 1,000 (or 700) people employed with these high-paying, high-skill jobs.  This is nowhere close to what the fools in Wisconsin did for Foxconn who has now announced they will not even bring manufacturing to Pleasant Prairie, Wisconsin.  The average cost to the Wisconsin taxpayer for the jobs created by Foxconn is about $225,000 per job.  Given the tax breaks announced here, it is $20,000 per job for the 700 and if it gets to 1,000 then it’s $14,000.  That seems like a reasonable amount to bring in high-paying jobs and good economic activity to a region.  There is a return for the State and County in this agreement based on these numbers unlike the Foxconn deal in Wisconsin.
    #6
    kougar
    CLASSIFIED Member
    • Total Posts : 3034
    • Reward points : 0
    • Joined: 2006/05/08 10:11:19
    • Status: offline
    • Ribbons : 22
    Re: Intel Investing $3.5 Billion in New Mexico, 10-Digit US Government Subsidies 2021/05/04 09:35:57 (permalink)
    Capitalism at its finest... funny how capitalism looks like certain other kinds of government. 


    Have water, will cool. 
    #7
    ty_ger07
    Insert Custom Title Here
    • Total Posts : 21174
    • Reward points : 0
    • Joined: 2008/04/10 23:48:15
    • Location: traveler
    • Status: offline
    • Ribbons : 270
    Re: Intel Investing $3.5 Billion in New Mexico, 10-Digit US Government Subsidies 2021/05/04 15:51:22 (permalink)
    From my understanding, these sorts of subsidies are what everyone should have expected as a result of the tariffs. If the money collected as a result of the tariffs went to no one and didn't get invested into our local manufacturing capabilities, that would be much worse, in my opinion.

    ASRock Z77 • Intel Core i7 3770K • EVGA GTX 1080 • Samsung 850 Pro • Seasonic PRIME 600W Titanium
    My EVGA Score: 1546 • Zero Associates Points • I don't shill

    #8
    EVGAFan5
    Superclocked Member
    • Total Posts : 101
    • Reward points : 0
    • Joined: 2021/04/29 05:24:37
    • Status: offline
    • Ribbons : 0
    Re: Intel Investing $3.5 Billion in New Mexico, 10-Digit US Government Subsidies 2021/05/05 18:21:52 (permalink)
    But but but the jobs... /s
     
    We're in new economic territory here in the US. Look up late stage capitalism for some real fatalistic reading. Not saying I fully agree that's where we are as a nation, but the future has a grime outlook if we keep down this path.


    #9
    DrThreevil
    New Member
    • Total Posts : 10
    • Reward points : 0
    • Joined: 2015/11/10 04:06:13
    • Status: offline
    • Ribbons : 0
    Re: Intel Investing $3.5 Billion in New Mexico, 10-Digit US Government Subsidies 2021/05/05 22:17:40 (permalink)
    Kinda feel like AMD is gonna eat Intel's lunch for the next couple years. It's impressive what Intel has done with the tech, but they just haven't kept up on lower nanometer processes because they just didn't need to in order to stay on top.....till now.
    #10
    GTXJackBauer
    Omnipotent Enthusiast
    • Total Posts : 10323
    • Reward points : 0
    • Joined: 2010/04/19 22:23:25
    • Location: (EVGA Discount) Associate Code : LMD3DNZM9LGK8GJ
    • Status: offline
    • Ribbons : 48
    Re: Intel Investing $3.5 Billion in New Mexico, 10-Digit US Government Subsidies 2021/05/06 02:54:48 (permalink)
    Star_Hunter
    Takes 2-3 years for these to come online, so no.




    Closer to 5 years.

     Use this Associate Code at your checkouts or follow these instructions for Up to 10% OFF on all your EVGA purchases:
    LMD3DNZM9LGK8GJ
    #11
    rjohnson11
    EVGA Forum Moderator
    • Total Posts : 102323
    • Reward points : 0
    • Joined: 2004/10/05 12:44:35
    • Location: Netherlands
    • Status: offline
    • Ribbons : 84
    Re: Intel Investing $3.5 Billion in New Mexico, 10-Digit US Government Subsidies 2021/05/06 03:07:26 (permalink)
    GTXJackBauer
    Star_Hunter
    Takes 2-3 years for these to come online, so no.




    Closer to 5 years.


    Technology and building methods should allow for these to be completed quickly. Probably late 2022 or 2023. 

    AMD Ryzen 9 7950X,  Corsair Mp700 Pro M.2, 64GB Corsair Dominator Titanium DDR5  X670E Steel Legend, MSI RTX 4090 Associate Code: H5U80QBH6BH0AXF. I am NOT an employee of EVGA

    #12
    Jump to:
  • Back to Mobile