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Hynix closure hurts Eugene taxes

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High Five
Monday, September 28, 2009

With the recent closure of Hynix, Eugene only expects $50,000 in taxes from the defunct computer chip plant, down from $1.8 million in fiscal year 2009.

Hynix had been the city’s top taxpayer for years, contributing from $2.2 million to $2.7 million to city coffers for each of the past six fiscal years, Eugene Finance Director Sue Cutsogeorge said. (The city’s fiscal year begins July 1 and ends June 30 of the following year.)

After Hynix closed, the plant’s assessed value dropped, which means that the stream of property tax revenues from Hynix will start drawing down to a trickle.

Read the full story at The Register-Guard.

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