IBM Transfer Agreement

Applicant: IBM Corp

Purpose: The project provides sales tax abatement on equip, upgrades and software between IBM divisions. The Agency approved the abatement in a effort to retain jobs in the County and help IBM remain competitive. In recognition of lost revenues to the county from downsizing and employee relocation, IBM has agreed to make payments to the County for distribution to its municipalities. The latter and agency fees are determined by a formula based on employment and the amount of abatement taken each year.