Pocatello Development Authority meets to discuss future of former Hoku property

The future of the former Hoku plant is still up in the air.

The Pocatello Development Authority held an executive session today to discuss the future of the property, which has changed ownership twice in the last five years. The results of the meeting are being regarded as “confidential,” but it does not appear that any major decisions were reached.

Ground was broken for the $700 million Hoku plant in 2007, but it was never finished and never operated. Hoku filed for Chapter 7 bankruptcy in 2013.

JH Kelly then bought the plant for $8.3 million before selling to VA Metals in 2016.

No one is sure what will be done with the plant. Some speculate it will be sold to another company, while others believe it could be leveled.

There is currently no timetable for a decision or further action. Pocatello Mayor, Brian Blad, said he doesn’t expect anything to happen in the next 30 days but is hopeful that something happens soon.

“We’ve been discussing the Hoku property, as far as the PDA is concerned, since the inception of Hoku,” Blad said. “It’s been being discussed for years…my hope and my desire is that we find somebody that is going to locate there and is going to make that and bring that into productive land and property.”