Eugene Council Extends Tax Break For Former Hynix Site
The Eugene City Council voted 5-3 Monday to give a Singapore-based semiconductor manufacturer 2 extra years of property tax exemptions. Broadcom, formerly Avago Technologies bought the former Hynix plant last year for $21 million.
It plans to spend $400 million to renovate the building so it can make computer chips. Councilors George Brown, Betty Taylor and Claire Syrett voted against the tax breaks.
Broadcom is already getting a 3 year tax exemption. Syrett said she thinks the company got a really good deal on the property.
Syrett: “In addition to this ready-to-go site, that I doubt they’ll find anywhere else in the country, I also think our community offers them some other advantages in terms of a workforce, including former Hynix employees, who are going to be ready to hit the ground running and help make their endeavor a real success.”
Broadcom is taking advantage of the West Eugene enterprise zone that the council recently extended. Lane County Commissioners must also approve the tax break extension.