ConocoPhillips- Not A Random Choice

If you’re wondering about why ConocoPhillips decided to choose Louisville for its global alternative energy technology and corporate education center, you are not alone.

The Houston-based oil and gas company considered many locations all over the United States. Early in the decision making process, CP concluded that in order to attract professional from around the globe, it would be unwise to choose on of the US coastal communities.

Having settled that, they began to explore (it’s in their nature after all) locations in more centrally located states like Missouri, Oklahoma, their home state of Texas, and a few others. As well, CP looked at over 20 sites along the Front Range.

There was a dual purpose in choosing the Boulder valley area. First, the plethora of intellectual and scientific based institutions in our area was attractive both as a source of focus for the type of community that would embrace CP’s work, and also as a resource for replacement employees.

With several national labs and high performing colleges and universities the pool of candidates for staffing up the ConocoPhillips facility is ideal.

Also, CP says that a large number of their staff will reach retirement. So, needing replacements is key, and also enticing those transitioning out of their employment system by locating to such an attractive and sought after living environment as Colorado doesn’t hurt either.

ConocoPhillips is planning to begin removal of the old buildings on the 432-acre former Sun/Storage Tek campus this fall, perhaps as early as October. Many of the buildings are already vacant, and have been for some time. I have a friend that works for Sun who is still finishing up some work at the Louisville location, and he says it’s ghostly quiet in many parts of the facility.

Since Sun is ahead of schedule with vacating the campus, even though their lease runs through the end of December, CP now has an opportunity to get a head start on deconstruction.

We expect to hear figures on employees as construction progresses. This will open up a new need for residential real estate. I imagine this may spur Superior to hasten it’s approval of a plan for the undeveloped area along 36, south east of Old Chicago, etc. We will likely also see some strong impact on Broomfield and Erie real estate, and a strengthening of the market in Louisville and Rock Creek due to the finite supply. That will be welcome news for these areas which have seen a relatively flat real estate market for the last couple years or so.

I appreciate the time you took to read my post. If you are ready for a move, please consider consulting with a full-time real estate professional. I’ve been living and working in the Boulder County area for almost 30 years and it would be my privilege to assist you with your next real estate transaction.

-Zachary Epps, Professional Full-Time Realtor.

Comments

Got something to say?