The tax abatement agreement requires Crusoe and Lancium to create 357 new full-time jobs with minimum salaries of $57,600, though the specific types of jobs are not detailed. While some critics argue that data centers do not create enough jobs to justify such tax breaks, proponents highlight the employment opportunities during the construction phase. Crusoe's development in Abilene is financed through a $3.4 billion joint venture with Blue Owl and a $2.3 billion construction loan from JP Morgan. The project is part of a broader expansion plan for Stargate, with potential additional locations being considered in Texas, Pennsylvania, Oregon, and Wisconsin.
Key takeaways:
- Crusoe, the developer of the Stargate data center in Abilene, Texas, could receive an 85% property tax break on a $3.5 billion investment.
- The tax abatement agreement requires Crusoe and Lancium to create 357 new full-time jobs with minimum salaries of $57,600.
- Oracle is the tenant for two data center buildings under construction on Crusoe's campus, with plans for six additional data centers.
- Crusoe's Abilene development is financed through a $3.4 billion joint venture with Blue Owl and $2.3 billion in construction financing from JP Morgan.