Content area
Full Text
ON Semiconductor officials have a month to decide whether to accept, negotiate or appeal the Bannock County Commission's unanimous decision to peg its main Pocatello plant's real property value at $20 million - or $8 million more than ON's $12 million estimate.
During a July 10 Board of Equalization courthouse hearing, both sides did, however, agree the value of the company's personal property, including equipment and furnishings, totals about $45 million. Real property includes land and buildings.
That, however, leaves the county's total valuation for ON's main semiconductor plant at $65 million versus ON's total estimated fair market value of about $57 million. In June 2008, ON's real property was appraised at $31.25 million and its personal property at $57.4 million. ON's final assessment last year was $75.6 million.
ON this year withdrew appeals of the county's personal and real property valuations on its Engineering Research Center, which totaled $2.99 million. The ERC building is on Alvin Ricken Drive behind ON's much larger main plant on Buckskin Road.
ON Manufacturing Director John Spicer said when ON Semiconductor of Phoenix acquired AMI Semiconductor in March 2008, the Pocatello plant's future was uncertain; shutting down wafer fabrication operations and affecting about 900...