On Wednesday, Meta Platforms, Inc. (NASDAQ: META) and Louisiana Economic Development (LED) disclosed plans for a $10 billion AI data center in northeast Louisiana, marking a major investment in the state's innovation ecosystem.
Set to be Meta's largest global facility at 4 million square feet, the data center in Richland Parish is slated to begin site work in December and expects construction to extend through 2030.
The Richland Parish Data Center will be Meta's largest facility globally, designed to handle vast data processing needs for AI workloads.
As part of its advanced infrastructure, it will support Meta's platforms, including Facebook, Instagram, WhatsApp, Messenger, and Threads.
The AI data center in Richland Parish is expected to create over 500 direct jobs, with LED projecting an additional 1,000 indirect roles, totaling more than 1,500 new jobs in the region. At the construction peak, the 2,250-acre site will employ approximately 5,000 workers, the LED said in the press release.
Meta plans to benefit from Louisiana's new incentive program under Act 730, which provides a sales and use tax rebate on data center equipment purchases or leases for qualifying projects.
The company has also pledged over $200 million for local infrastructure upgrades, including roads and water systems.
Meta will work with Entergy to add 1,500 MW of renewable energy to the grid, matching the data center's energy use with 100% clean power.
Kevin Janda, Meta's Director of Data Center Strategy, stated, "Richland Parish in Louisiana is an outstanding location for Meta to call home for a number of reasons. It provides great access to infrastructure, a reliable grid, a business-friendly climate, and wonderful community partners that have helped us move this project forward."
Governor Jeff Landry said, "Meta's investment establishes the region as an anchor in Louisiana's rapidly expanding tech sector, revitalizes one of our state's beautiful rural areas, and creates opportunities for Louisiana workers to fill high-paying jobs of the future."
Investors can gain exposure to Meta through iShares Global Comm Services ETF (NYSE: IXP) and Vanguard Communication Services ETF (NYSE: VOX).
Price Action: META shares are up 0.22% at $615.14 premarket at the last check on Thursday.