Former Hynix plant sells for $13.4M; buyer 'has no immediate plans for the facility'
EUGENE, Ore. - The company that bought the former Hynix plant in West Eugene for $13.4 million has no specific plan for the property.
"Corning has no immediate plans for the facility, which would need refurbishment and upgrades before any operation could commence," said Joe Dunning, a representative for Corning Inc. "From time to time, Corning has acquired properties which the company could use in the future. We have no immediate plans for the site."
Corning is the parent company of Damon Enterprises LLC, which bought the property at auction from Broadcom in September.
Broadcom purchased the property for $20 million, a fraction of the $250 million the facility cost to build in 1995, with plans to refurbish the facility. The company changed strategies and put the property up for auction.
Built to manufacture semiconductors, Hynix closed in 2008, laying off 1,100 employees.
Every time the property has changed hands, it stirred interest locally in how the facility could be put back to work - and back on the tax rolls.
The Hynix closure hurt the local tax base: Hynix paid $4.6 million in property taxes in 2007. Of that, $2 million went to the City of Eugene; $1.46 million supported the Eugene 4J School District.
For now, the future of the facility remains the same as its recent past: Closed.
"There are no immediate plans for the facility right now," Dunning from Corning said, "and there's no timetable for determining what the future use would be."
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