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

To: Venkie who wrote (119960)	4/22/1999 11:48:00 AM
From: TechMkt	Respond to of 176388

Maybe we can make the July 2000's Investor's Meeting in Graceland. I think TN will be very, very good for DELL. Fez ____________________________ Thursday April 22 9:54 AM ET Dell May Build Plant in Tennessee NASHVILLE, Tenn. (AP) - Mayor Phil Bredesen says Dell Computer Corp. (Nasdaq:DELL - news) is leaning toward acquiring property near Nashville International Airport that would allow it to build a facility employing thousands of people. ''We are, as of today, in agreement on the big issues,'' Bredesen told The Tennessean on Wednesday night. ''I feel there's an excellent chance we can put something together.'' The exact terms of a contract between Nashville and Dell haven't been reached. But according to the proposal, Dell is seeking the following: - 140 acres where the old Middle Tennessee Mental Health Institute is located. - 490 acres of city-owned land near the airport in exchange for a nominal payment. - Another 100 acres through a state grant. - Demolition or removal of all buildings on the property and clearance for construction of new facilities. - Building permits and other necessary approvals placed on the fast-track. - Metro Transit Authority establish new bus routes for workers at the plant. Dell also has requested that Nashville share local sales tax revenues that would be generated by the company through sales originating at its Davidson County operation. State officials had previously said such an agreement wouldn't be permitted under state law, but Bredesen said he thinks there may be a legal way to make it happen. Dell officials confirmed Davidson County is a leading site for a major company expansion that's expected to add at least 3,000 jobs to the Nashville economy in five years. ''There's a mutual feeling this could be very good for us,'' Dell spokesman Peter Scacco said from central Texas. He said he didn't know how soon a final deal could be reached. ''We are keen to get under way with construction immediately,'' Scacco said. ''The sooner we can get the final details worked out, the sooner we can start.'' When Dell announced earlier this month that it was expanding to the Middle Tennessee area, it looked at Nashville, but then turned its attention to Williamson County and the city of Murfreesboro in Rutherford County, about 30 miles southeast of Nashville. Bredesen was able to persuade Dell officials to give Nashville a second look. He took them on a helicopter tour of the area and subsequently engaged in heavy negotiations. ''Early on, they had taken a quick pass through Davidson County, then moved on,'' Bredesen said. ''My feeling was Davidson had a lot to offer.'' Dell has a separate commitment on economic incentives from the state, the details of which have not been disclosed. But Bill Baxter, commissioner of the state Department of Economic and Community Development, said the scope of Dell's package is reasonable and will be measured according to the size of the company's operations. For example, business tax credits will be awarded only as new jobs are created. Commitments for new infrastructure, such as roads and interstate exits, have also been discussed. Dell, based in Round Rock, Texas, employs 24,000 people in 33 countries. The company designs, manufactures and customizes computer products, and is ranked second in the United States and third worldwide among personal computer manufacturers. Dell earned $18.2 billion in the last year.