### Buckeye Hopes to Rebound Following KORE Power Withdrawal
The Town of Buckeye dedicated significant time and effort to attracting KORE Power, a promising battery manufacturer that had pledged to build a $1 billion plant in the area. However, following the recent election, plans took an unexpected turn.
KORE Power was unable to secure its previously promised $850 million loan through the Inflation Reduction Act before Donald Trump was elected president. As a result, the company decided to abandon its Arizona plans, appointing a new CEO and relocating its headquarters to Vermont. Now, the company is selling the land it had originally acquired for the project.
The 214-acre property, located along State Route 85 in Buckeye, is now being marketed for sale by JLL as a prime opportunity for high-tech manufacturing. The site offers access to power, water, rail, and millions of dollars in infrastructure improvements. Its estimated value ranges between $70 million and $75 million.
Despite this setback, Buckeye remains committed to infrastructure development and will proceed with the construction of a bridge and roadway to connect the site to other streets. The project will cost approximately $10.5 million and aims to support future development in the area.
About the Publisher:
Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax (www.griffintax.com) and REVVED Up Accounting (www.revvedupaccounting.com). In addition, Steve founded Madison Avenue Technology (www.madisonave.tech). With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.
