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RIO RANCHO SCORES COUP: $1 BILLION, 1000-JOB INTEL CORP. EXPANSION; SMALL, FAST-GROWING NEW MEXICO CITY BIG LURE TO CALIFORNIA FIRMS

 RIO RANCHO, N.M., April 1 /PRNewswire/ -- Intel Corp's (NASDAQ-NMS: INTC) announcement today that it would spend $1 billion and create up to 1,000 permanent new jobs in expanding its computer chip manufacturing facility near Rio Rancho, N.M., was the most dramatic in an impressive recent string of community economic development successes.
 Over the last six years, Rio Rancho -- which began the 1990's as the fastest-growing small city in America and still grows by 250 new residents a month -- has lured a score of out-of-state companies, for over 5,000 new jobs, quadrupling its economic base.
 In the last year alone, 14 companies have either expanded or moved their entire operations to Rio Rancho, and this year announcements will be made by at least seven more. Another 5,000 jobs are expected by the end of the decade.
 A city of 40,000 located just northwest of Albuquerque, Rio Rancho has had particular success drawing California-based companies. In the last three years alone, at least seven California-based firms have established operations in the Rio Rancho community.
 In addition to the Santa Clara-based Intel -- which already employs 2,300 people at its Rio Rancho-area facility -- California firms that have moved all or part of their operations to the community include:
 -- The Olympus Corporation, which expanded its medical instruments repair plant from San Jose in 1989;
 -- U.S. Cotton, formerly a Saratoga, Calif.-based firm whose President, Anthony Thomas, built a 32,000 square foot factory in Rio Rancho for less than the selling price of his California home.
 -- California Aerodynamics, an aircraft sheet metal maker;
 -- Topform Data, a computer form designer that moved from Orange county;
 -- Great American Stock, a photo lab from San Diego;
 -- Bergen Brunswig, a pharmaceutical concern;
 -- Applied Materials, a 30-engineer firm that provides technical support for Intel.
 Other, non-Californian firms investing in Rio Rancho include J.C. Penney, employing 550 in its telemarketing facility, and the Lukens Medical Corporation, a 165-employee suture maker.
 Why Rio Rancho?
 Three factors cited most often by executives who have moved there are a stable, qualified workforce; affordable housing; and an unusual economic development team that offers companies a "one stop shop" of relocation services.
 The affordable housing and the economic development efforts are led by Rio Rancho's major developer, AMREP Southwest. AMREP has built 12,000 homes in Rio Rancho since 1961, selling 938 in the last year alone. The company's "starter" homes sell for about $40,000 -- meaning families with incomes as low as $18,000 can own their own homes.
 Also cited are the extraordinary "cocooning" services offered by the Rio Rancho Economic Development Corporation. EDC President Mark Lautman notes the group offers prospective new companies a team that includes every professional needed in the relocation process: bankers, architects, contractors, and government officials. The EDC also helps relocating employees find housing, schools, churches and even soccer teams for their kids.
 -0- 4/1/93
 /CONTACT: Barbara Brazil of Intel Corporation, 505-893-7427, or Mark Lautman of Rio Rancho EDC, 505-892-9200, or Rob DeRocker of Development Counsellors International, 212-725-0707, for Intel/
 (INTC)


CO: Intel Corporation ST: New Mexico IN: CPR SU:

LD-WB -- NY008 -- 1982 04/01/93 11:15 EST
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Date:Apr 1, 1993
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