LIKE: Facebook buys 39 more acres for Alliance developmentLIKE: Facebook buys 39 more acres for Alliance developmenthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=121322016-02-16T06:00:00Z2016-02-16T19:00:00Z

​​FORT WORTH - Let's face it! Facebook has acquired more land—Texas 170 and Independence Pkwy. in the Alliance development—in far north Fort Worth where it is building a massive billion-dollar data center complex.

Facebook bought an additional 39.4 acres from AIL Investment LP. Hillwood is the developer of the 18,000-acre Alliance project.

Facebook now owns about 150 acres in far north Fort Worth after earlier buying 110 acres for its project. The first of three 250,000-sf buildings is under construction and expected to be up and running by the end of the year.

Facebook has said its investment in Fort Worth could reach $1 billion, but that was before it bought the additional acreage. 

The data center, to be fully operated by wind power generated in Clay County will eventually have more than 100 employees.

Last May, the City Council approved grants on real and business personal property taxes over 20 years on the project, which if achieved will become the city’s largest incentive deal. Facebook committed to at least 40 positions under terms of the incentive.

Under the deal, the city will get most of its taxes upfront. In the first ten years, projections show Facebook paying $21.9 million in taxes to the city and retaining $12.7 million in taxes. But the company's portion grows to $63.5 million at 15 years and $146.7 million at 20 years.

By the end of 20 years, Fort Worth will receive $48.5 million in taxes.

Fort Worth Star-Telegram
Dallas-Fort Worth-Arlington
http://www.star-telegram.com/news/business/article60118666.htmlSource: {Source}

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