Pocatello, Hoku strike deal on new plant

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by Associated Press

KTVB.COM

Posted on August 15, 2009 at 4:34 PM

Updated Wednesday, Oct 14 at 1:05 PM

POCATELLO -- 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 work force 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.

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