Idaho city, Hoku strike deal on new plant
Associated Press
POCATELLO, Idaho — The eastern Idaho city of Pocatello and Hawaii-based Hoku Scientific Inc. have announced an agreement that includes financial incentives for the company to have a workforce of at least 200 full-time employees.
The company is building a $390 million polysilicon plant near Pocatello to make silicon for solar panels.
The deal also calls for the city to be reimbursed up to $13 million by the company for the cost of acquiring land and building an access road to the plant, along with other capital costs.
Hoku would be reimbursed up to $15 million of its tax payments for initial building costs, and could recover $17 million of its property tax if it meets the employment commitments.
———
Information from: Idaho State Journal, www.journalnet.com