Fort Worth considering 20 percent tax abatement for more Facebook construction

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The City of Fort Worth discussed a proposed tax abatement with Winner, LLC (Facebook) that was presented to the Fort Worth City Council during its Tuesday work session.

“We are very excited about the ongoing expansion of the Facebook Data Center. The company has invested over a billion dollars in Fort Worth and is growing faster than we had originally anticipated,” Fort Worth Economic Development Director Robert Sturns said. “I think this additional expansion shows the robust nature of our community for these types of high capital intensive projects and should continue to fuel Fort Worth’s growth as a key center for data center development.”

The proposed site for the expansion is the northeast intersection of Park Vista and Highway 170, near the existing Facebook campus.

The project overview includes:

- FWBP Digital Partners -

*Redevelop and expand existing QTS Fata Center on 51.9 acre site.

*Site will be composed of a minimum of 100,000 office and data center.

*Original agreement allowed for additional investment on any subsequent land acquired within a half-mile radius of the original data center site.

*In order to establish this new land as eligible for an incentive, a new tax abatement agreement and reinvestment zone must be established.

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Winner, LLC will agree to:

*Capital investment of $150 million in real and business personal property by

Dec. 31, 2021, $50 million for data center and $100 million in equipment.

*Employment goal of at least four full-time jobs at an average wage

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of $43,992.

*Commitment of 15 percent on both hard and soft construction costs with tilization of certified Minority/Women Business Enterprise companies.

The incentive proposal includes:

*The City of Fort Worth will provide a one-year tax abatement of 20 percent of the

incremental real and personal property (so that Tarrant County can participate in tax abatement).

*New spending will count under the existing economic program agreement that allows additional investment within a half-mile radius of original data center to count under total investment.

The City of Fort Worth tax revenue will be an estimated $1,256,875.

The item is expected to be on the March 26 agenda.