Meta has selected Tulsa to build its first data center in Oklahoma.
The decision was announced during a press conference this week, after it was previously reported and discussed as "Project Anthem."
2 News Oklahoma has learned more about the financial aspects of the data center and the economic impacts of the $1 billion facility.
According to a project plan approved by PartnerTulsa, Meta has agreed to cover all costs for the project site. This includes $25 million in public infrastructure improvements.
In lieu of taxes, Meta will pay the City of Tulsa $62.5 million. This will fund other infrastructure developments in the area as a part of its 25-year Tax Incentive District agreement with local taxing entities.
Meta will receive an annual 85% exemption on its property tax bill as a result.
2 News asked Tulsa District 4 Councilor Laura Bellis if Meta would pay the funds over time and how long the property tax discount would last.
"It's unclear. They said a few items would be a one-time payment, and they will do some ongoing, smaller grants," said Bellis. "The tax abatement is up for 25 years."
Of the 15% that will be collected, the funds are expected to exceed $36 million over the life of the Tax Incentive District agreement. Those funds will benefit the City of Tulsa, Wagoner County, Catoosa Public Schools, and other affected taxing entities, according to the Tax Incentive District plan.
The data center is expected to create more than 1,000 jobs during the construction phase and more than 100 jobs once it's built.
While Tulsa city councilors passed a moratorium on data centers last month, Project Anthem/Meta was excluded from it.
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