Business Insider article The first major milestone of Dillon’s $1.6 billion logistics project was to be completed in April.
The company’s CEO, Michael G. Dillon, said he would spend $400 million to build an 18,000-foot (5,000 meter) high, 20-story, 250,000 cubic foot (1.4 million cubic meter) logistics center in the heart of downtown Denver.
That would be one of the largest of its kind in the United States.
Dillon said the project would help bring back thousands of jobs and bring in millions more in tax revenue.
Dillon and his team hope to create 10,000 jobs over a five-year period, while also creating hundreds of thousands of new ones.
The project is being financed with $2 billion from an unnamed private equity group.
Dillon also said that he is aiming to raise another $2.5 billion in a round of financing in the first quarter of 2019.
Dillon’s logistics startup, which Dillon cofounded, will be the first of its type in the country.
Dillon has also launched his own logistics company, Airborne Logistics, which aims to be the largest logistics company in the world.
The Denver-based company is already valued at $2,300 per square foot, according to research firm CB Insights.
Dillon was also the first to get the $1 million startup grant for his company, as the project received $1,000.
He said he had hoped to use the money to help create 10 jobs for the company over five years, but that it was more than enough.
Dillon will now have to raise a further $1bn in funding to complete the project.
Dillon expects to complete construction of the logistics center by mid-2019.
Dillon told The Wall Street Journal that the $400m in private equity funds will help the company build a new headquarters in the Denver suburb of Aurora.
Dillon is planning to invest another $1-billion in his logistics startup over the next three years.