Minneapolis Developer Backs Out Of NASA Park

LOVELAND, Colo. (AP) — A Minneapolis developer chosen to create a new Colorado business park to cultivate innovative technology has backed out of the project.

The Colorado Association for Manufacturing and Technology announced Monday that United Properties ended its exclusivity agreement for Aerospace and Clean Energy Manufacturing and Innovation Park at the former Agilent Technologies campus in Loveland.

United Properties President Frank Dutke says the company withdrew from the project over concerns of available credit tenancy and acceptable financing terms.

The goal of the 167-acre business park is to turn NASA-controlled patents into products. The association spearheading the project will continue to develop the park, which they say has significant tenant interest.

Once developed, the association says the park could house up to 70 businesses and create up to 10,000 jobs statewide.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Comments

One Comment

  1. Ralph says:

    “To the Moon, Alice,”

  2. James says:

    So you’re telling me a private business has to become involved to make something of a government controlled patent because the government has no business being involved in the open market and couldn’t turn a profit if they tried? Figures. Now tell me something I didn’t know. Oh wait, nobody wants or has a use for these NASA patents? Huh. Wow, again, tell me something I don’t know. Maybe there’s a really cool patent for a fountain pen in there somewhere.

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