Micron allocates $67 million for Valley transit, housing, and child savings

Micron Technology announced a $67 million investment in the Treasure Valley on Tuesday. The funds are allocated to three specific areas: public transportation, affordable housing, and a savings program for children. April Arnzen, Micron’s executive vice president and chief people officer, stated that the company is investing in the people who will work in its expanding U.S. facilities and the families who support them.

The largest portion of the budget goes to children. More than $45 million is reserved for $250 seed deposits for eligible children in the Treasure Valley. Rosita Najmi, the global head of social impact and community engagement at the Micron Foundation, described the initiative as a way to encourage families to discuss how they want to serve Idaho and be part of its future.

Public transportation will receive $11.6 million over five years. This funding supports Valley Regional Transit, which Elaine Clegg, the CEO, says is necessary because residents in the region spend an average of 22 percent of their disposable income on transportation. Clegg noted that spending more than 15 percent is considered a burden. The money will help create Route 41, a new line connecting Caldwell, Nampa, Meridian, and Boise.

The new route is scheduled to begin service early next spring. It will operate seven days a week. Valley Regional Transit projects that more than 40,000 additional residents in the Treasure Valley will live within one mile of a bus stop once the route is active.

Micron is also directing $10.5 million toward housing. Of that total, $8 million is designated for LEAP Housing. Bart Cochran, founder and CEO of LEAP Housing, called the issue personal as he raises his family in the region. Another $4 million will help complete 30 workforce rental homes in Mountain Home. An additional $4 million will provide down-payment assistance for up to 200 first-time homebuyers across five southwest Idaho counties.

A final $2.5 million will support the construction of more than 300 affordable homes in Boise’s Lusk District. Ten percent of those units will be reserved for individuals exiting homelessness. Residents can expect to see the first transportation improvements on the road as early as next spring.