COLUMBUS, Ohio (COLUMBUS BUSINESS FIRST) – Ohio lawmakers have approved $1.2 billion of the proposed $2 billion incentive package to bring Intel Corp. to New Albany – and sweetened the deal with tax breaks said to be worth “hundreds of millions.”
The $3.5 billion capital budget creates exemptions for sales and commercial activity taxes that appear to apply to most of the $20 billion in construction and equipment for Intel’s (Nasdaq: INTC) planned semiconductor manufacturing complex. Those breaks apply to the company and any Ohio-based suppliers.
The legislature passed the capital budget Wednesday and Gov. Mike DeWine issued a statement supporting it. The bill directs spending for construction and infrastructure, such as for universities, schools and parks.
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