Buckeye’s leaders see KORE Power site as prime opportunity

Sometimes closing the door on one opportunity can lead to something better.

That’s the perspective West Valley economic development leaders have taken following the demise of Idaho-based KORE Power’s plans for a $1 billion battery plant in Buckeye.

The city of Buckeye spent several years focused on bringing the KOREPlex project to fruition. Suzanne Boyles, the city of Buckeye’s economic development director, referred to the company as a “great partner” and said they “really enjoyed” working together.

But KORE Power was unable to secure its once-promised $850 million loan through the Inflation Reduction Act by the time Donald Trump was elected president and changed the political landscape, so the company ultimately decided to move on from Arizona, transitioned to a new CEO and moved its headquarters to Vermont.

“Sometimes these things happen,” Boyles said at Phoenix Business Journal’s West Valley Growth Summit panel on Feb. 11. “Federal funding is outside of any of our control and that played a big part of this — but we are resilient.”

This story is posted in partnership with Phoenix Business Journal. Click to read the full story.

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