A new manufacturing plant would be good news for Micron Technology, and the Treasure Valley.
The plant could, at least, stabilize a local work force battered by more than 1,100 layoffs since June. The plant could help solidify the future of Idaho's largest private employer.
Monday's announcement was encouraging - as far as it went. Micron said it planned to build a new fabrication plant in Boise, but offered no timetable. The expansion was tied instead to two big variables: market health and economic conditions.
Micron offered considerable hope but scant detail. Micron told everybody what they wanted to hear - in limited amounts. And Micron left questions for every group of stakeholders:
- Employees. For the roughly 9,000 Treasure Valley workers who still have a paycheck-to-paycheck interest in Micron's future, does this news translate into some welcome stability at the Boise campus?
- Businesses. What sort of short- and long-term message should retailers and Realtors take from Monday's announcement?
- The economic development community. What does the announcement say about the future of one of Boise's corporate icons, and the viability of the state's high-tech sector?
- Political leaders. Will lawmakers finally see a return on their investment in tax incentives? In an attempt to attract just the type of plant Micron promised Monday, the 2005 Legislature provided Micron a tax break that, in 2007, exempted some $282 million of Micron's Boise facilities from the property tax.
- Investors. Micron has lost $582 million since the start of the 2007 fiscal year, with stockholders taking their share of the brunt. Is an investment in a new plant a sign that Micron expects its losses to reverse?
- Civic groups. With Micron saying it plans to invest in Boise, how will this affect philanthropic contributions to groups that have benefited from corporate and Micron Foundation support?
All of these groups have an interest in hoping the new fabrication plant becomes reality. So do we. Micron is critical to Idaho's economy and central to the Valley's culture. After months of layoffs and losses, who doesn't want to see the historically turbulent memory market rebound?
Our enthusiasm is tempered only by a disappointing shortage of details. Better days are ahead. Someday. Market willing. If you were left wanting more, that's understandable.
Absent any alternative, we're left to hold Micron to its word. Micron has publicly committed, however conditionally, to making a new investment in Boise. This is the kind of commitment Idahoans should applaud - but a commitment this company must honor.
"Our View" is the editorial position of the Idaho Statesman. It is an unsigned opinion expressing the consensus of the Statesman's editorial board. To comment on an editorial or suggest a topic, e-mail editorial@idahostatesman.com.
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