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New Mexico Applauds Intel $3.5B Expansion In Rio Rancho


New Mexico Applauds Intel $3.5B Expansion In Rio Rancho
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6:55 am
Intel plans to invest $3.5 billion in New Mexico operations and hire more than 700 new workers at their facility in Sandoval County. Courtesy/Intel Corporation/Walden Kirsch
EDD News:
RIO RANCHO Intel plans to invest $3.5 billion in its New Mexico operations and hire more than 700 new workers to create a domestic hub for advanced semiconductor manufacturing at its fabrication facility in Sandoval County, the company and Gov. Michelle Lujan Grisham announced.
In what will be one of the largest capital investments in New Mexico, Intel plans to modernize facilities to accommodate its Foveros technology, a breakthrough innovation to meet increasing customer demand for stronger microprocessing performance. ....

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Intel Investing $3.5 Billion in New Mexico, 10-Digit US Government Subsidies Still Haven't Landed Yet


May 3, 2021 14:41 EDT
Intel NASDAQ:INTC announced Monday that it was committing $3.5 billion to upgrade its Rio Rancho, New Mexico facility to expand its Foveros advanced packaging capacity by 40%. 
Foveros is an advanced 3D packaging technology that allows vertical stacking of compute tiles. This packaging technology is a key component of Intel’s latest chips such as the 7nm Meteor Lake processors it recently announced. In a blog post, Intel explained that Foveros allows for the integration of diverse computing engines across multiple process technologies exceeding what’s possible with single-die integration. 
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.  ....

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Cheryl Everett: Permanent fund would strengthen future revenue


Cheryl Everett: Permanent fund would strengthen future revenue
Cheryl Everett
For the last few years the New Mexico Legislature has undercut funding for municipalities by reducing their so-called “hold-harmless” reimbursement.
Hold-harmless payments were enacted to compensate local governments for their revenue loss as state sales tax on food are being reduced in annual increments between 2015 and 2030.
The sales tax cuts were intended to provide tax relief for lower-income families. Ironically, those cuts could lead to cutbacks in city programs and services for those same families and other city residents.
The New Mexico Municipal League and many of its member cities expressed alarm over these “hold-harmless” cuts. ....

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