The redevelopment of the former Storage Technology Site in Louisville into a training and R&D facility for ConocoPhillips was going to provide an economic boost to the "Renewable Range" cluster of green energy firms in the Denver region and to the broader economy.
However, recent uncertainty over the future of the site illustrates the drawbacks of not having homegrown, in-region headquartered firms driving economic development decisions. When Houston-based ConocoPhillips announced a split into two separate publicly traded companies, ConocoPhillips, an upstream exploration and production energy company and Phillips 66 a downstream consumer-facing refining, marketing and midstream business, the plans for the Louisville campus came into question. Future decisions will be made by the leadership of Phillips 66 and may or may not reflect the previous vision espoused by the legacy ConocoPhillips leadership. When land use decisions are made by companies with distant, out of state headquarters, there is an exposure to changes in strategic and leadership direction which can imp3de local progress.
Here is to hoping this site still gets redeveloped by Phillips 66 in a way that enhances the regional green energy cluster and boosts the overall economy in the Metro Denver area.
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