Intel tax breaks cost local governments over $1.2 billion

A report by the non-profit organization Good Jobs First claims that tax exemptions granted to Intel have resulted in more than $1.2 billion in lost revenue for local governments in Oregon and New Mexico since 2015.

In Oregon, the report titled ‘The Bleeding Edge’ states that Intel received at least $1.14 billion in tax abatements through the Strategic Investment Program. This has significantly impacted local education, with Hillsboro schools reportedly losing approximately $891 million in revenue between 2017 and 2025. During this period, Intel paid $552.4 million in fees, which is less than one-third of the value of the tax breaks received.

In New Mexico, the report estimates a $99.6 million loss in revenue due to property tax exemptions from Industrial Revenue Bonds. Rio Rancho’s Public Schools are estimated to have lost $43.4 million over a nine-year period. The organization questions why Intel continues to receive these local incentives while simultaneously receiving billions in federal support through the CHIPS Act and having laid off thousands of employees in these regions over the last three years.