SOUTHEAST BOISE, Idaho — Micron announced a major investment in the Treasure Valley, dedicating $67 million into the community. The money will affect where neighbors live, how they get around and their children's future.
Boise-based tech giant Micron says that as it expands its U.S. manufacturing, it's building more than fabrication facilities.
"We're investing in the people who will work in these facilities, the families who will support our employees," said April Arnzen, executive vice president and chief people officer at Micron Technology and president of the Micron Foundation.
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One of the first places that money is going is public transportation. Micron is dedicating $11.6 million over five years to Valley Regional Transit.
"People in this region spend 22 percent on average of their disposable income on transportation. Anything over 15 percent is considered burdened," said Elaine Clegg, CEO of Valley Regional Transit.
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Clegg says the investment will help create a new Route 41, connecting Caldwell, Nampa, Meridian and Boise. The route is expected to hit the road early next spring.
The new route will run seven days a week, and Valley Regional Transit says more than 40,000 additional Treasure Valley neighbors will be within a mile of a bus stop.
But transportation isn't the only everyday expense putting pressure on Idaho families. Micron is putting another $10.5 million toward affordable housing.
Eight million dollars is going to LEAP Housing, while $4 million will help finish 30 workforce rental homes in Mountain Home.
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Another $4 million will provide down-payment assistance for as many as 200 first-time homebuyers across five southwest Idaho counties.
"I'm now raising my family here with the same hopes for my children and the generations beyond. Without affordable housing solutions, that hope isn't possible. So this issue is personal to me," said Bart Cochran, founder and CEO of LEAP Housing.
Another $2.5 million will help bring more than 300 affordable homes to Boise's Lusk District, with 10 percent of those homes set aside for people exiting homelessness.
But the biggest portion of this new investment is aimed at children. Micron says more than $45 million is being reserved for $250 seed deposits for eligible Treasure Valley children.
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"It's our way of creating an excuse at the dinner table for families to talk about not just the standard question of what do you want to be when you grow up, but also thinking about how do you want to serve and how do you want to be a part of Idaho's future when you grow up," Rosita Najmi, global head of social impact and community engagement and executive director at the Micron Foundation told me.
Micron says neighbors should start seeing some of those transportation investments on the road as early as next spring.
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