Tech Slowdown Impacts New Development
2 April 2001 - 4:00am
Intel abruptly stops construction on a new chip factory in Austin, Texas -- leaving local politicians furious about a construction tax incentive package.
"Because of an economic downturn that has shrunk demand and cut prices for its computer chips, Intel recently decided to stop construction on its chip design and parking garage about a mile south of the Capitol... The city offered an incentive package of $10.6 million, including about $2.5 million in waived fees and $7.4 million in deferred construction costs."
Full Story:
Intel Apologizes for Construction
Source:
Associated Press, April 2, 2001
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