Under the terms of the agreement, funds managed by BlackRock will hold an 80% interest in the venture, while Meta will retain 20% and serve as the initial sole occupant under a flexible long-term lease.
Construction is already underway at the site, with the first phase of capacity expected to come online in 2028.
The development is projected to create over 4,000 construction jobs at its peak and 300 permanent operational roles.
Beyond infrastructure, the companies are investing in local workforce development through grants to El Paso public schools and trade training programs intended to strengthen the pipeline for skilled labor in the region’s growing tech and energy sectors.
The venture marks a significant shift in Meta’s infrastructure financing strategy, pairing its operational expertise with BlackRock’s capital and private financing capabilities.
Meta will contribute approximately $2.3 billion in land and existing construction assets to the project, while BlackRock will provide an initial cash contribution of $4.9 billion.
The state-of-the-art campus is expected to play a critical role in training next-generation AI models and enhancing Meta's core digital services.