POCATELLO — Mayor Mark Dahlquist is reassuring the community about the future of one of Pocatello's largest employers.

Rumors about the closure of LA Semiconductor on the city's east side are untrue and a letter that went out to the plant's employees two weeks ago saying they could be laid off was simply a regulatory requirement connected to the facility being in receivership, Dahlquist said.

The mayor said he's "cautiously optimistic" that a buyer for the plant will be found and that LA Semiconductor's future in Pocatello involves hiring many more employees as opposed to closing up shop.

When the letter was brought to his attention two weeks ago, Dahlquist said he contacted LA Semiconductor officials to get an explanation. Company officials told him the letter was required by the government because the plant is in receivership.

Multiple buyers are interested in purchasing the plant and the situation is certainly not one of "gloom and doom," Dahlquist said.

Talking to company officials about the plant's future gave him "peace of mind" because there is serious interest from companies that would like to purchase the facility, he said.

"I was definitely less stressed after talking to them," Dahlquist said. "There's still a lot of hope."

Over 300 people currently work at the plant.