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Technology Stocks : Dell Technologies Inc. -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (137185)	7/21/1999 10:11:00 AM
From: TechMkt	Read Replies (1) \| Respond to of 176387

Posted this last night, but I liked it so much I wanted to post it again. Fez __________________ Tuesday July 20 11:13 PM ET Nashville Approves Deal With Dell NASHVILLE, Tenn. (AP) - City officials late Tuesday approved a $46 million incentive package for Dell Computer Corp. (Nasdaq:DELL - news) to build a plant employing at least 3,000 people. Dell, based in Round Rock, Texas, announced plans in May to build the personal computer assembly plant here. It would be the first U.S. plant outside Texas for Dell, the world's No. 3 computer manufacturer. Mayor Phil Bredesen has said the Dell complex, which could grow to employ 8,000, will be a $97 million economic boon to the city over the next 40 years. Incentives include $8 million in sewer, road and other infrastructure improvements, a 40-year property tax break for 490 acres of land, the gift of 150 acres that housed an old state mental institution, and an annual city payment of $500 per Dell employee to the city's Industrial Development Board. The board will use the money for equipment and infrastructure for Dell. Dell employs 24,000 people in 33 countries. The Nashville expansion is the sixth new plant announced by Dell since January 1998. The 27-11 vote in favor of the incentive package came after the city earlier Tuesday denied a federal wildlife official's request to delay the vote because two species of bats and a Peregrine falcon, which is endangered, reportedly live in woods where Dell would build. A spokesman for the mayor said the Tennessee Valley Authority (NYSE:TVA - news), Tennessee Department of Environment and Conservation and a local wildlife expert found no evidence of an endangered species of bird.