Posted by Staff Writer on 11/25/2017 to
Tech Business
IncSmart New Mexico (Small Business and Startups) - Facebook investment in New Mexico, just took a new turn. Facebook is going much bigger with the new data center in New Mexico. They announcing plans to build another four buildings and boost its total investment to more than $1 billion. The expansion plans are in Los Lunas, a rural community outside of Albuquerque. The new Facebook data center campus will include a total of six buildings covering nearly 2.8 million square feet.
Facebook broke ground on the first building in October 2016. It's expected to be open in late 2018. Los Lunas agreed to give up property taxes for 30 years. In exchange of the property taxes, the town will receive annual payments starting at $50,000 and topping out at just under $500,000. The state also promised billions of dollars in industrial revenue bonds as well as other economic development funding. The campus will also use electricity created by a 30-megawatt solar farm that is currently being installed.
By IncSmart Staff Writer
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