by Daniel Moore
Press Staff Writer
Magnida, a planned fertilizer factory for American Falls, is selling its water rights for the plant. Power County leaders want to pass a bond to buy the rights.
“They’re still trying to find partners,” said Power County Commissioner Ron Funk about Magnida. “But they are getting to the point where they are starting to sell off assets.”
Kristen Jensen, the director of the Great Rift Business Development Organization, which coordinates economic development in Power County, said Magnida CEO Ric Sorbo assured her the company is still looking for investors, even as the water rights are sold.
“They are still looking for funding,” Jensen said. “The project is not over or dead.”
She said all of the company’s permits are still viable for the project.
The Power County commissioners, however, do not want the water rights up for sale to leave Power County. They want Power County voters to support a bond that would allow the county to buy the water rights.
The commissioners have filed for the bond to be on the ballot on Tuesday, Nov. 8. The bond, which would increase property taxes, would allow the county to buy the water rights. The bond is for $8 million…
Read the full story in the print edition of The Power County Press! Subscribe Today!
Thanks for reading!
Read more in this week's print edition.Subscribe Today!