Chevron Renewable Energy Group has recently announced the indefinite shutdown of its DeForest plant. The decision for the closure comes in the wake of the Environmental Protection Agency’s (EPA) announcement regarding the set volumes for biodiesel and renewable diesel for the years 2024 and 2025, according to Neville Fernandes, the vice president of corporate affairs at Chevron Renewable Energy.
In a separate development, Cornerstone Hotel Management Inc., a company with longstanding ties to the DeForest area, has concluded the sale of the Comfort Inn & Suites, located off of County Highway V in the Town of Vienna. This transaction was finalized on Friday, Feb. 16, marking a significant change in ownership for the property that has been under Cornerstone’s management since its development in 2006. Cornerstone, with its headquarters in DeForest, not only developed the Comfort Inn but also owns the nearby Holiday Inn Express, further cementing its presence and investment in the local community. These recent shifts in the local business landscape underscore the ongoing changes and adaptations within the renewable energy and hospitality sectors.
The indefinite closure of Chevron Renewable Energy Group’s DeForest plant and the sale of the Comfort Inn & Suites by Cornerstone Hotel Management Inc. signify substantial changes in DeForest’s business environment. These developments reflect broader trends in renewable energy and hospitality, highlighting the impact of regulatory decisions and market dynamics on local economies and businesses. While Chevron’s plant shutdown, influenced by EPA’s biodiesel volume mandates, marks a pivot in the renewable sector, Cornerstone’s property transaction illustrates the evolving nature of hospitality investments. Together, these events underscore the necessity for adaptability and resilience among businesses navigating the challenges and opportunities of today’s economic landscape.