Des Moines, IA -- The Iowa Economic Development Authority board is considering $18 million in tax credits for Facebook's $300 million data center in Altoona.
Board member Pete Brownell confirmed to the Des Moines Register Newspaper that social media giant Facebook is behind the project, which has been referred to as Siculus Inc. in state documents.
The company says its considering three data centers, each totaling 300,000 square feet. Today's project would be the first phase.
The company is requesting an $8 million refund of sales tax and $10 million in tax credits based on capital investment.
The due diligence committee today will consider the incentives before it goes to the full board, which meets this morning.
The project would create 31 jobs, expected to pay at least $23.12 an hour on average.
Altoona city leaders are expected to provide 20 years of tax abatement. No details were immediately available on that amount.
Altoona leaders have green-lighted three centers, totaling 1.4 million square feet. Experts believe that amount of investment could reach $1.5 billion.
Facebook is expected to announce the project later today in Altoona.