Tech Slowdown Impacts New Development

Intel abruptly stops construction on a new chip factory in Austin, Texas -- leaving local politicians furious about a construction tax incentive package.

1 minute read

April 2, 2001, 4:00 AM PDT

By Chris Steins @planetizen

"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."

Thanks to Chris Steins

Read the full story: Intel Apologizes for Construction

Monday, April 2, 2001 in Associated Press

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