MONEY FOR META: How will the new data center be funded?

Meta has announced its selection of Tulsa, Oklahoma, for its first data center in the state, a $1 billion facility previously known as "Project Anthem." This decision was publicly confirmed after a project plan was approved by PartnerTulsa. Under the terms of the agreement, Meta will cover all costs associated with the project site, including $25 million for public infrastructure improvements. In return, Meta will receive an 85% property tax exemption for 25 years as part of a Tax Incentive District agreement with local taxing entities. Instead of standard property taxes, Meta will pay the City of Tulsa $62.5 million, designated for other infrastructure developments in the area. Tulsa District 4 Councilor Laura Bellis noted that while some payments would be one-time, others would be ongoing grants. The remaining 15% of collected taxes is projected to exceed $36 million over the agreement's term, benefiting the City of Tulsa, Wagoner County, and Catoosa Public Schools. The data center is expected to generate over 1,000 jobs during construction and more than 100 permanent positions. Although Tulsa city councilors recently enacted a moratorium on data centers, the Meta project was specifically exempted from its restrictions.