Facebook plans $400M expansion in Altoona
Friday, March 17, 2017 11:04 AM
The Iowa Economic Development Authority board will consider whether to amend its incentive agreement with Facebook Inc. to allow the social media giant to add one and possibly four buildings at its Altoona data center operation. Facebook, which operates as Siculus Inc. at the data center, plans to spend $400 million on the expansion, which would be located on property at the northwest section of its current operations. Facebook recently supported a voluntary annexation into the city of Altoona for a portion of land it already owns as well as property it is attempting to purchase. According to IEDA, Facebook wants $8 million in sales tax credits that would be added to an $18 million tax incentive package it received from the state in 2013, when it launched construction of the existing three-building data center. As part of the new expansion, Facebook will guarantee the creation of 10 new jobs, according to a report to the IEDA board. On Monday, the Altoona City Council will consider four agenda items related to the expansion, including a rezoning of 184 acres currently owned by Big R Farms that have been annexed into the city. The agenda item is to rezone the land for limited industrial uses.