COMMENT OF THE DAY: SIZING UP HOUSTON’S REFINERY BOOM ” . . . The total investment ongoing in the Petrochemical complex is about $50 billion. 1000 Main sold in 2014 (after the crash was underway) for $0.5 billion. There are about 50 skyscrapers in downtown. Therefore, with the investment ongoing in the Petro complex, we could rebuild downtown Houston twice with only our classiest of class A skyscrapers.” [awp, commenting on A Tale of 2 Houstons During the Oil Bust; Inside 500 Crawford] Illustration: Lulu
Refineries are boring, though.
What does “investment ongoing” mean in this scenario?
You take that back Commenter7. Buildings are the equivalent of steel structures that support process facilities.
All refineries need is a little ground floor retail.
My dataset (from the Baytown Economic Development Foundation) tracks heavy industrial projects in the metro area that have broken ground with completion dates from 2015-2021 (although three fifths of the value completes in 2017-2018 and four fifths in 2015-2018).