By Associated Press - Monday, August 11, 2014

PORTLAND, Ore. (AP) - The city of Hillsboro and Washington County have reached a proposed 30-year tax break agreement with the chipmaker Intel, securing the company’s presence in Oregon for years to come.

The deal, announced Monday, allows Intel to invest up to $100 billion over three decades in semiconductor manufacturing equipment and facilities.

Intel will continue to pay all property taxes on land and buildings. It will also pay taxes on the first $100 million of equipment, but taxes on equipment investments beyond that sum will be abated.

Washington County commissioners and the Hillsboro City Council will vote on the agreement on Aug. 26. If approved it would be the fifth Intel tax agreement in Washington County.

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