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Subsidy Tracker Individual Entry

Company: Wurldwide LLC
Parent Company: Meta Platforms Inc.
Subsidy Source: multiple
Location: Texas
City: El Paso
County: El Paso
Project Description: data center
Year: 2023
Major Industry of Parent: information technology
Specific Industry of Parent: internet services
Subsidy Value: $687,600,000
Subsidy Value in 2023 Dollars: $687,600,000
Program Name: multiple
Awarding Agency: multiple
Type of Subsidy: 
Number of Jobs or Training Slots: 50
Capital Investment: $800,000,000
Source of Data: El Paso City Council minutes of meeting and agenda items, including the contract and a power point presentation on the project, are under December 4, 2023 meeting: (click here) (file number 23-1572 and 23-1510); El Paso County minutes of meeting and agenda items, including the contract, are under December 4, 2023 meeting: (click here). See also: Vic Kolenc, "Facebook owner Meta Platforms eyes El Paso for $800M data center", El Paso Times (Texas), December 7, 2023. Via LexisNexis
Notes: El Paso city approved Chapter 380 agreement and El Paso County approved Chapter 312 agreement with Wurldwide LLC, a Meta subsidiary, for a complex of data centers. The agreements are valid for 35 years and give Meta 80% city and county property tax abatements on up to 5 phases, which can be constructed at the same time or consequently. Each phase would have its own 25-year tax abatement resulting in an estimated $110 million in tax abatements over that period ($73 million from the city and $36 million from the county). If 5 phases are built, it would be approximately $550 million in total city and county tax abatements. In addition, the city committed $12.6 million to improve roads and prepare the site. Meta most likely will benefit from state sales and use tax exemptions for data centers. Because there is no information on the amount of abated taxes, we applied 6.25% sales tax on the reported $400 million the company will invest in equipment in one phase, and we multiplied that by 5 phases for $125 million in possible abated sales taxes. The company is obligated to create 50 jobs during all 5 phases with a minimum wage of no less than $16.43, the annual area median county wage as of Dec. 2023. To get the full abatement, the company would need to invest about $14 billion over 5 phases but in the contract, it is obligated to invest $800 million, the amount it will take Meta to build the initial phase. Overlaps with main data: none.
Source Notes: If an online information source is not working, check the Tracker inventory page for an updated link.