Facebook will qualify for some $150 million in tax breaks for Phase 1 of the project, expected to be a $750 million investment. Facebook continues to be the most profitable social media company on the planet and just reported record profits for the first quarter of 2018, approaching $12 billion. And that in spite of a slew of criticism surrounding revelations late last year that a data scientist harvested personal data on some 80 million users and later sold the information to Cambridge Analytica. Facebook boasts nearly 1.5 billion daily users and over 2 billion regular monthly users.
That infrastructure investment is expected to be equalized by the Phase 1 tax benefits of $150 million over 20 years. All additional phases will be eligible for the same level of tax relief.
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