BP Brings 200 Jobs To Colorado, Growth Trend Could Continue
By Stan Bush
DENVER (CBS4)- Oil and gas company BP is making a big move from Texas to Colorado because of the region's importance as an energy hub.
The move for BP is a clear sign of the oil and gas industry's strength in the Rocky Mountains. Three decades ago oil and gas firms left Denver in a mass exodus as the commodities market crashed and production costs outweighed the benefits.
Office space in downtown Denver, which was largely comprised of oil and gas firms, suddenly became a ghost town. Colorado Oil and Gas Association president and CEO Dan Haley says the industry and the city are both stronger now.
"The 1980s come and our economy was not very diverse, so when oil and gas tumbled... it showed," says Haley.
BP will take over a new state of the art facility that revitalizes an eyesore along the South Platte River. The developer says BP was attracted by the environment of Commons Park that mixes the city views with nature and Denver's active lifestyle.
The energy giant's plans could also have a domino effect, not just for oil and gas, but for other companies that may consider Denver's vibrant economy for their corporate headquarters.
"This filters down thru our communities. It increases philanthropic activity and giving. There's a reason to have corporate HQs here in Denver," says Haley.
Stan Bush is a general assignment reporter at CBS4. His stories can be seen on CBS4 News at 10. Read his bio and follow him on Twitter @StanBushTV.