I received an employment offer letter from a company I had interviewed with and at the time, was planning to go to work for them. Things have since changed and I am no longer able to work for them. I was scheduled to start on March 6th and signed the offer letter and returned it to them. There is a statement on the last page that that says (in all caps) "THIS OFFER SHALL NOT BE CONSTRUED AS CREATING A CONTRACT OF EMPLOYMENT BY OR BETWEEN EMPLOYER AND EMPLOYEE". I guess my question is, can I be held in any way liable, legally by the company?

Hi,
Welcome to this site, and thank you for posting a question here.
No, you aren't libel for anything. The letter was simply an offer, not a contract for employment. Those are usually signed with the Human Relations department, accepting employment, along with all the other forms to fill out.
You might call the HR department of the company, and tell them you have made other arrangements.
I do wish you the best.

Please merely notify them that you are going to accept a different position.

There should be no problem.

Normally where you will see a problem is where.
1. there was a employment agency invovled
2. there was a specific contract and one or either party had expenses involved in getting ready for thie employee.

This is not an employment contract, so technically you have to give them no notice (you need to call them up, or send them a letter though, that is the polite thing to do).

Even if they have incurred expenses, they can't charge you for it since there is no contract between you and the employer.