Louisville Phillips 66 Training Center Finally Gets The Ax
A Phillips 66 research and training center planned for Louisville is officially getting the ax. The project was expected to bring 7,000 jobs and millions in area investment when it was announced in 2008. It had been shelved by the company late last year.
In a statement released Wednesday, the city of Louisville says the decision not to build the center is disappointing; however the 432 acre property will now be put up for sale.
ConocoPhillips purchased the land, formerly the location of Sun Microsystems, for $58.5 million in 2008. According to the Denver Post, the facility was to be constructed in three phases, with the first being completed next year.
Louisville approved the land for development in April of 2010, however, the project was delayed by ConocoPhilips twice before the company split in two earlier this year. Phillips 66 acquiring the Louisville land.
Read more about the research and training center from the Boulder County Business Report.