Intel New Mexico celebrated an all-time high of volunteer work in 2019 but will pay Sandoval County $100,000 because less than 60 percent of new hires were New Mexico residents last year, according to the company’s annual report.
Intel provides the report in accordance with its Industrial Revenue Bond agreement with Sandoval County.
In an IRB agreement, a company invests money in its business to enrich the local economy with construction or manufacturing. In return, local governments offer a reduction in property and gross receipts taxes.
Intel spokeswoman Erika Edgerly sent out the report Monday morning.
According to the report, under the IRB agreement, 60 percent of the company’s yearly new hires need to be New Mexico residents. Of the 509 new employees it hired in 2019, 53 percent were New Mexico residents.
The company did not meet that hiring goal in 2001, 2006, 2009, 2011-2014 and 2018-2019.
Since 1995, the company has an average of 61.5 percent of its total new hires being New Mexico residents, according to the report.
Intel maintains an annual economic impact in New Mexico of about $390 million, based on 2017 data, according to the report.
“Intel’s preference is to source locally when possible and, as a result, we spent just over $200 million with New Mexico-based organizations in 2019,” according to the report.
The company also employs 1,800 individuals in New Mexico and hires over 2,000 contract workers. About 700 of those workers provide daily services to Intel’s site.
The average compensation for employees at Intel was $145,000 per year, including salary, benefits and bonuses.
Intel invested over $660 million in New Mexico’s high-volume manufacturing and technology development facility in 2019. This is an increase of $524 million from 2018, according to the report.
Intel also paid $9.15 million to Sandoval County to abide by the IRB agreement and $638,642.28 in property taxes in 2019, according to the report.
Overall, Intel employees have contributed more than $1.1 million to support New Mexico schools and charities across the state, according to the report.
“These investments continue to support a more skilled and competitive workforce for the future and contribute many solutions to social and educational challenges in our communities,” according to the report.
The company left 2019 with 57 percent employee participation in volunteer work in events like donating 538 backpacks filled with school supplies to Rio Rancho Public Schools and 1,200 tote bags for teachers in celebration of Teacher Appreciation Day, according to the report.
For Thanksgiving, Intel’s volunteers donated over 1,700 pounds of food for local pantries and assisted them over the holiday season, according to the report.
Intel employees also gave over $15,000 to purchase holiday gifts, according to the report.
“Intel volunteers provided holiday gifts to nearly 100 families in Sandoval County, as well as 100 stockings for children in need, and welcomed 50 students in need for our annual winter carnival, where they enjoyed a fun afternoon of activities and brought home holiday gifts,” according to the report.