HP Campus to House State Agencies
How many times have you driven by the HP campus on Chinden in Boise? Well, it will soon be referred to by state officials as the "Chinden Campus." That's because several state agencies are moving in now that the State of Idaho officially owns the compound.
According to KTVB, the deal for the 1.5 million-square-foot property (spanning 8 buildings across 200 acres) was made in December, and cost the state $110 million. They also accounted for $29 million to take care of renovations and infrastructure work. Right now they're dealing with an asbestos situation that will cost about $1 million.
The first two agencies to move in will be the Idaho State Tax Commission and the Industrial Commission. More agencies will move in over time, saving tax payers millions of dollars that have been spent of leasing buildings around the valley.
So what's going to happen to all the HP Inc folks? They'll actually be staying on the campus. HP will actually be leasing most of the building from the state for about seven years. After that they'll have an option of "two five-year renewable contracts."