Facebook Inc (FB) Building $1 Billion Data Center in Virginia

Facebook Inc (NASDAQ:FB) announced that the company is building a $1 billion data center in Virginia.

Facebook Inc (FB)

The company’s world domination plans continue in the form of an expansion to its data capabilities, this time in Henrico Country, Virginia. The area is located just outside Richmond.

The company will spend $750 million of the $1 billion into constructing the data center, while the remaining $250 million will be used to build several solar facilities that will power the data center in a sustainable manner.

“Working with companies like Facebook and many others, we are advancing Virginia’s position as a global leader in the technology economy,” said Virginia Governor Terry McAuliffe, a Democrat.

The move will help boost the area’s local economy by adding 100 jobs, and Facebook will garner about $19 million in state tax exemptions through 2035 thanks to the move, according to the Virginia Economic Development Partnership.

“One of the many important factors in our search for a new data center location is being able to source clean and renewable energy. We also look for great partnerships within the local community, robust infrastructure … and a strong pool of local talent,” Rachel Peterson, Facebook’s director of data center strategy, said in a statement.

The company already has data centers in Oregon, North Carolina and Iowa. Data centers in Fort Worth, Texas; Los Lunas, New Mexico; and New Albany, Ohio are being constructed.

FB stock gained 1.3% Thursday.


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