Fort Collins Council to mull Avago tax breaks
The breaks could spell the difference on whether San Jose, Calif.-based Avago moves forward with plans to invest $165 million to expand into 12,160 square feet of a building on its Fort Collins campus, according to city documents. The expansion would add more than 130 new jobs to the company's operations.
The proposed agreement between the city and Avago offers two kinds of tax breaks: a use-tax rebate on manufacturing equipment bought for the expansion and a personal property tax rebate on equipment bought by the company for 10 years.
"I think, if the request is granted, that we're leaning toward keeping things in Colorado as opposed to offshore," Steve Sharp, Avago's manager of corporate marketing and communications, has said.
Larimer County commissioners, meanwhile, are reviewing a request for $930,100 in personal property tax rebates for Avago over five years.
Avago must maintain manufacturing operations for at least the duration of the rebated years as well as meet certain job-creation criteria to receive the rebates.
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