New York's Empire State Development Corp. yesterday approved the transfer of a $1.2 billion incentive package from Advance Micro Devices Inc. to a new venture the firm is forming with a private equity company to help finance the construction of a micro chip plant near Albany, N.Y.

The state plans to sell $650 million of personal income tax bonds through the ESDC to fund grants as part of the incentive package which also includes tax breaks.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.