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Council approves Micron incentive for Longmont MegaLab expansion; company pledges jobs and investment
Summary
The council unanimously approved a performance-based business personal property (BPP) tax rebate capped at $1 million to support Micron’s planned Longmont ‘MegaLab,’ which Micron says will add lab space, support U.S. storage product qualification and create high-wage technical jobs in town.
Longmont City Council voted unanimously on Oct. 28 to approve a performance-based tax incentive for Micron Technology to support the company’s planned expansion of its Longmont design and validation campus, the so-called Longmont MegaLab.
The incentive is a business personal property rebate structured as: 75% rebate of BPP taxes for years 1–4, 50% rebate for years 5–8, capped at $1,000,000 total. The rebate is explicitly tied to actual equipment purchases and to job performance: Micron committed to create at least 20 net new jobs at an average…
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