Idaho Wants to Pay Millions For This HP Inc. Campus

March 16, 2017, 11:39 PM UTC
Photograph by Bloomberg via Getty Images

HP Inc.’s big campus in Boise, Idaho may become the new home for that state’s tax office.

Idaho governor C.L. “Butch” Otter said Thursday that his administration plans to negotiate with HP to buy the huge Boise campus for roughly $110 million, plus an extra $16 million for renovations.

The campus includes eight buildings with over 1,300,000 square feet of office space and 200,000 square feet of warehouse space. If the deal is finalized, the state would lease back over half of the office space to HP (HPQ) for seven years and take over the leases for an undisclosed number of other tenants, according to the Idaho state government.

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The Idaho State Tax Commission and other state agencies would move into the campus after the deal’s close.

“We’ve been looking hard for the right place at the right price for our agencies, and the HP campus really fits the bill,” Otter said in a statement. “A great employer is reinforcing its commitment to Idaho and the State is saving money, so it’s a win-win.”

An HP spokesperson told Fortune that HP “plans to evaluate sale and leaseback deals for the company’s Boise site,” but said that the company “will not disclose the details of the purchase deal.”

“This decision will ensure HP is able to maximize the value of its real estate investments and create future growth at the Boise campus,” the spokesperson said.

Prior to HP’s high-profile split from its data center technology sibling Hewlett Packard Enterprise (HPE) in 2015, the company employed about 4,000 people at the facility, according to the Idaho Statesman. Last year, HP said it would layoff 3,000 workers by the end of 2016; the layoffs were intended to save the company around $300 million by early 2017.

HP did not respond to questions regarding whether any local employees would be impacted by the deal.

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The technology giant built the campus in 1980, has recently started renting out office space to call centers and other businesses, the Idaho Statesman reported.


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