Nebius gets Independence City Council approval for AI factory

Nebius (NBIS) announced the Independence City Council’s vote to approve the Chapter 100 industrial development incentive plan for its planned AI factory campus. The approval of the plan enables Nebius to proceed with the construction of the Independence AI factory, which has potential capacity of up to 1.2 GW. The project, a multi-building campus on approximately 400 acres, is expected to create approximately 1,200 construction jobs, mostly among local building trades, with around 130 permanent high-tech positions once the AI factory is fully operational. Under the approved agreement and associated tax incentive package, Nebius will make payments in lieu of taxes projected to deliver over $650M to the city, local school districts, and other taxing jurisdictions over the 20-year term.

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