Home     News     Services     Online Services     Forms     Departments     Links     Search     Contacts

VISIT LANE COUNTY ONLINE AT

HTTP://WWW.LANECOUNTY.ORG/NEWS/

For current news and archives

For Immediate Release 07/24/08

EFFECT OF HYNIX CLOSURE

Contacts: Lane County Administrator Jeff Spartz, 682-4203; Lane County Assessor Anette Spickard, 682-6798

The pending closure of Hynix, one of Lane County’s largest employers, will impact the local economy with the immediate loss of family-wage jobs and the future reduction of property tax revenue.

According to Lane County Assessor Anette Spickard, the effect on property taxes will not be immediate.

Property values are determined as of January 1 each year. The October 2008 tax roll will reflect Hynix’s value as of January 1, 2008 at which time it was still in operation.

The property tax effects of any plant closure before December 31, 2008 will be reflected on the October 2009 tax roll, including penalties for disqualification from the West Eugene Enterprise Zone.

The State Department of Revenue will need to determine the residual value of the manufacturing plant after the closure. After that appraisal occurs, Lane County Assessment and Taxation will be able to calculate what the impact will be to taxing districts on an on-going basis. The land and structures will continue to be taxable.

In 2007, Hynix paid approximately $4.6 million in property tax, of which:

The Eugene-based manufacturing plant is one of Lane County’s largest employers.

The Lane Workforce Partnership is forming a local rapid response team to meet the needs of the affected Hynix employees. The Workforce Partnership provides on-site services, including information on how to: apply for unemployment insurance, register in iMatchSkills, and apply for a Workforce Investment Act training scholarship; in addition to providing on-site workshops on interviewing techniques, resume writing and job search strategies, and access to one-on-one appointments with career advisors.

###

Amber Fossen
Public Information Officer
Lane County Government
125 E. Eighth Ave.
Eugene, Oregon 97401
(541) 682.3718
(541) 359.9143 (cell)

lane county:
working
^{for you}

^{Lane County Government provides for the safety and security of Lane County’s 343,000 citizens through public safety, public works, human services, elections, vital records and other systems}