President-elect Donald Trump announced at a Tuesday press conference that DAMAC Properties will invest “at least” $20 billion in data centers across the country.
DAMAC Properties is an Emirati property development company. The location of these new data centers will be in Texas, Arizona, Oklahoma, Ohio, Illinois, Louisiana, Michigan, and Indiana.
Trump said a possibility exists that the company could double its investment in America.
“He’s doing it because of the fact that he was very inspired by the election,” the president-elect said.
DAMAC Properties Founder Hussain Sajwani said he has been waiting four years to increase investment in America. He added that the company will start with a $20 billion investment, but it may increase in the future.
Trump said that if a company invests over $1 billion in America, it will receive “expedited reviews.”
“We are going to move them quickly through the environmental process,” he added.
Last month, Japanese tech company SoftBank announced it would invest $100 billion in America, which is supposed to create 100,000 jobs.
“My confidence level to the economy of the United States has tremendously increased with his victory,” CEO Masayoshi Son said. “President Trump is a double down president. I’m going to have to double down.”
This company made a similar announcement in 2016 before Trump began his term as president.
According to Cisco, data centers are physical facilities “that organizations use to house their critical applications and data. A data center’s design is based on a network of computing and storage resources that enable the delivery of shared applications and data.”
America has the most data centers in the world, with 5,381, according to Statista. Germany, which is in second, only has 521 of these centers.
The Department of Energy (DOE) states that data centers are “one of the most energy-intensive building types.” These centers consume “10 to 50 times the energy per floor space of a typical commercial office building.”
Data centers account for 2 percent of America’s electricity use, according to the DOE.
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Zachery Schmidt is the digital editor of The Star News Network. Email tips to Zachery at [email protected]. Follow Zachery on Twitter @zacheryschmidt2.
Photo “Donald Trump and Hussain Sajwani” by RSB Network.
