Meta and BlackRock Form $14 Billion Venture for Texas Data Center

The project is currently under construction, with plans to bring capacity online by 2028. Under the deal, BlackRock-managed funds will hold an 80% stake, while Meta retains 20% ownership. Meta is contributing $2.3 billion in land and existing construction assets to the venture, with BlackRock providing a $4.9 billion cash injection to facilitate the development. Meta will serve as the sole initial tenant, operating the facility under a long-term lease structure that could span up to 20 years.

Beyond technical capacity, the project serves as an economic engine for the region. The campus is expected to generate over 4,000 construction jobs at its peak and 300 permanent operational roles. Community integration efforts include Meta’s $500,000 grant to local public schools and participation in workforce development programs. BlackRock is simultaneously launching a separate $30 million initiative, Future Builders, aimed at training 12,000 electricians across Texas to meet the growing demand for energy and infrastructure labor.