Under Idaho Code § 63-4502, a company that invests at least $1 billion in new facilities in one Idaho county within seven years of its first building permit pays property tax on up to $400 million of taxable value; value above that is exempt. TerraVolt's own investment in power, water and campus infrastructure is estimated at $750 million to $1 billion, so whether we reach the threshold depends on final design. A data center company building on the campus would be a separate taxpayer and could reach it on its own.
Separately, Idaho offers a sales tax exemption for qualifying data centers (Idaho Code § 63-3622VV): at least $250 million of investment and at least 30 new jobs paying at or above the county average wage. That exemption applies to the data center company's servers and construction materials, not to TerraVolt's power plant.
We believe in total transparency when it comes to local taxes and economic benefits. While state incentive programs exist under current law, we know the Legislature is likely to examine these policies in the next session, and adjustments may occur. We are not structuring our project to bypass local obligations. We plan to pay our fair share of taxes, ensuring that the revenue generated stays local, directly funding county services, schools, and infrastructure where we operate.