Des Moines Register has a review of the 18 month process the City of Altoona went through.
What seems interesting is a tax issue based on a three limit needed to get changed to six.
Also in March, a roadblock suddenly emerges: VanderZanden emails Durham that state rules prohibit the company from fully benefiting from Altoona’s proposed 20-year tax abatement.
The rules specify that all phases must be built within a three-year project completion window. Facebook plans three phases over six years.
“Iowa should remove as many hurdles as it can to our building the third building in Altoona,” VanderZanden writes in an email.
The issues of renewable energy shows up in the article too.
Durham says Facebook discusses a “wind farm totally dedicated to them” vs. investing in a portfolio of renewable energy.
It’s tricky territory for her. A wind farm would compete with energy Facebook gets from MidAmerican, a close partner with the state in encouraging economic development in Iowa.
Eventually the plan is for there to be a 100 employees.
In the parking lot after the announcement, Durham signs the state’s finalized contract with Facebook. The state agrees to provide Facebook with $18 million in tax credits, based on job creation and capital investment.
Within days, Facebook begins filling key positions, says Kirkland, Facebook’s spokesman. State leaders believe permanent jobs will grow to about 100 when all three phases are built.