SK hynix move prompts do-over on WL tax district maps for millions in IEDC incentives

West Lafayette restarts a process that would clear the way for hundreds of millions of dollars in state incentives for the South Korean company’s $3.87B semiconductor facility

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SK HYNIX SITE MOVE PROMPTS REWORKING WL TAX DISTRICT MAPS FOR IEDC INCENTIVES

Moving the proposed site of SK hynix’s $3.87 billion facility several hundred yards across Yeager Road – a controversial proposition that has roiled neighborhoods nearby in West Lafayette – has the city regrouping on some technical maneuvers that will set up the South Korean semiconductor giant for state incentives.

Last week, the West Lafayette Redevelopment Commission agreed to redraw the boundaries of its KCB Tax Increment Financing District in the northern part of the city, removing 121 acres north of Kalberer Road and between Yeager and County Road 50 West where SK hynix’s 340,000-square-foot high-bandwidth memory production facility is now expected to go.

That amounts to a do-over, restarting a multi-step process first laid out in fall 2024 that would clear the way for the Indiana Economic Development Corp.’s offer of hundreds of millions of dollars in Innovation Development District tax rebates to SK hynix.

This is a rendering of the SK hynix facility, looking to the northwest from the corner of Kalberer Road and Salisbury Street. (Image: SK hynix)