HP’s Boise campus isn’t at risk of a government takeover, according to the Idaho Department of Administration.
Speculation that HP would be forced to leave when its lease expires isn’t true, said Bryan Mooney, director of the Department of Administration. The state bought the campus from HP and leases some buildings back to it.
“The lease between the state and HP, Inc. was executed as part of the purchase of the campus in December 2017,” Mooney said in an email message. “It has an initial term of seven years with two five-year renewal options exercisable at the discretion of HP, Inc.”
The Palo Alto, California-based company, which has been in Boise since 1975, has had a number of layoffs in recent years. Most recently, the company announced on Oct. 3 that it expected to lay off 7,000 to 9,000 people worldwide but wouldn’t break down the restructuring by site or location.
HP has had more than 3,000 employees on its Boise campus but is now down to roughly 1,700, according to a recent speech by Chief Diversity Officer Lesley Slaton Brown.
Anonymous sites that track layoffs have included speculation that HP’s hand would be forced because the state would want access to all of the former HP campus for government offices, and that the company would take the opportunity to shut down the Boise campus entirely.
Mooney emphasized that the state valued its relationship with HP and appreciated the contribution it makes to the local economy.
HP sold its 197-acre Boise campus to the state in 2017, leasing back 793,000 square feet of the total 1.346 million square feet across eight buildings. A 152,000-square-foot building had been vacant for at least five years.