DAVID

TAUSSIG

& Associates, Inc.

FISCAL AND ECONOMIC
IMPACT STUDY

FACEBOOK DATA CENTER

(PROJECT ANTELOPE)
LOS LUNAS, NEW MEXICO

DECEMBER 2016

Public Finance
Urban Economics
Public Private Partnerships
Newport Beach, CA
Valencia, CA
San Francisco, CA
San Jose, CA
Houston, TX
McKinney, TX

FISCAL AND ECONOMIC IMPACT STUDY

FACEBOOK DATA PROJECT (PROJECT ANTELOPE)

VILLAGE OF LOS LUNAS, NEW MEXICO

Prepared By
David Taussig & Associates, Inc.
5000 Birch Street, Suite 6000
Newport Beach, California 92660

TABLE OF CONTENTS
SECTION

PAGE

EXECUTIVE SUMMARY....................................................................................................................................... 1
SECTION 1.

INTRODUCTION ...................................................................................................................... 9

SECTION 2.

DESCRIPTION OF RECURRING FISCAL REVENUES AND COSTS .........................15

SECTION 3.

FISCAL IMPACTS ..................................................................................................................20

SECTION 4.

ECONOMIC IMPACTS ...........................................................................................................25

APPENDICES
Appendix A:

Fiscal Impact Model

Appendix B:

Economic Impact Model

EXECUTIVE SUMMARY
I.

PURPOSE OF THE STUDY

The objective of this Fiscal and Economic Impact Study (the Study) is to analyze the fiscal and
economic impacts of the proposed development of the Facebook Data Center (Project Antelope or the
Project) on the Village of Los Lunas (Village) and the County of Valencia (County). The Project
is comprised of a 300-acre data center with up to six buildings anticipated to be constructed over a
period of up to 10 years. Net developable land is approximately 63.36 acres, with a total building space
of roughly 3 million square feet for six buildings (i.e., 489,000 square feet per building). The Study
analyzes the recurring fiscal impacts of the Projects development on the Village General Fund, and also
identifies the general economic impacts on the Village in terms of employment, gross receipts, and
earnings creation for Village residents and workers.

II.

TYPES OF FISCAL AND ECONOMIC IMPACTS TO VILLAGE OF LOS LUNAS

EVALUATED IN THE STUDY
A.

FISCAL IMPACTS ON VILLAGE OF LOS LUNAS GENERAL FUND

The purpose of the fiscal analysis component of this Study is to estimate the net fiscal impacts of
the Projects proposed development and construction on the Village General Fund. The fiscal
impacts identified in this Study include recurring municipal revenues and costs to the Village
General Fund that result from the land use scenario analyzed. Village General Fund revenues are
generated from a variety of revenue sources, including property taxes, gross receipts taxes
(GRT), fees, and fines. Costs to the Village General Fund are associated with a variety of
services, such as police protection, fire protection, public works maintenance, and general
government services. The Village also expends revenues from a series of other special funds
outside of the General Fund; for example, these revenues include various enterprise funds related
to water and sewer services. As these revenues are generally equal to the cost of the services that
they finance, they are essentially break-even and are not typically included in a fiscal analysis for
a municipality. As a result, most fiscal analyses focus on the General Fund, where any shortfalls
or surpluses can be easily identified, and such is the case for this Study.
In conducting the fiscal analysis, the goal is to determine whether the Project is expected to
generate enough revenues for the Village to fully offset expenditures for Local Economic
Development Act (LEDA) assistance as well as services provided on its behalf by the Village.
Note, however, that the Study does not address the cost of water rights or additional Village
infrastructure needed to service the Project.
The fiscal analysis focuses on the impacts of the Project on the General Fund if it were built
during fiscal year 2016-2017, based on cost and revenue criteria and assumptions existing during
that fiscal year. As is the case for most General Fund fiscal analyses, it would be speculative to
project future cost and revenue factors because there is no certainty regarding what those factors
will be. Assumptions made regarding the relative levels of cost and revenue increases for factors

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Facebook Data Center Village of Los Lunas

December 2016
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such as these in future years would typically create a bias in the fiscal analysis that could in itself
invalidate the results of the Study.
B.

ECONOMIC IMPACTS ON VILLAGE OF LOS LUNAS AND COUNTY OF VALENCIA

The Study also identifies the general economic impacts that would occur in the Village and in the
County, and quantifies these impacts wherever possible. General economic impacts include
additions to the Villages or Countys employment (number of average annual full- & part-time
jobs), economic output (e.g., gross receipts), and earnings (the sum of wages, salaries and
benefits, other labor income, and employer and employee contributions to Social Security). The
Study also distinguishes between one-time impacts and permanent impacts. One-time impacts
include benefits to the Village or the County that occur on a non-recurring basis as a result of
construction activity, while permanent impacts refer to benefits that occur on a continuing basis,
year after year.

III.

DESCRIPTION OF FACEBOOK DATA CENTER (PROJECT ANTELOPE)

The Project is located in the Village of Los Lunas, New Mexico, in the Huning Ranch Business Park on
the north side of Main Street, west of Interstate 25, near New Mexico State Road 6. It is comprised of
approximately 2.93 million building square feet of industrial land use. The specific land use is the
construction and operation of data center buildings and related facilities. A 300-acre data center with up
to six buildings is anticipated to be constructed over a period of up to 10 years. Buildings are expected
to be constructed in sets of two, in an H formation, with an administrative section connecting the two
buildings. According to Facebook, the estimated building space for each H structure is 978,000 square
feet. For the purposes of this Study, we assume 489,000 square feet per building (i.e., 978,000/2 =
489,000). The Project will include up to three construction Phases, with two buildings per Phase. Net
developable land is approximately 63.36 acres, with a total building space of about 2.93 million square
feet for all six buildings.
The Project will require the construction of significant new infrastructure, financed through public
and/or private funds, to be ultimately owned by the Village and maintained by the Villages General
Fund. At this time, it is estimated that these infrastructure improvements will consist of public
infrastructure (i.e., water, sewer, pond, and road improvements), as well as PNM electrical infrastructure
improvements. Water improvements will include the construction of approximately 9,000 linear feet of
12-inch water main, 29 fire hydrant assemblies, 9 gate valves with restraints, and boxes and concrete
collars. Sewer improvements will include the construction of 2,300 linear feet of 6-inch sewer main, and
10 manholes that are 4 feet in diameter. A pond is needed to buffer effluent flows into a smaller,
maximum flow rate that the Village system can accept. This improvement will include a lined pond (2+
acres), a single outlet drain with overflow drain (4-inch), an unknown length of pipe to connect the pond
outlet to the sanitary sewer main, and a discharge meter on the pond outlet. Finally, electrical
improvements will include interconnection and build-out of the transmission infrastructure, tapping into
the existing infrastructure and adding new capacity for the site. This approach will allow the project to
be served at transmission voltage (100 kV or higher).

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IV.

CONCLUSIONS OF ANALYSIS RELATED TO THE PROJECT

Following are the major conclusions related to the fiscal and economic impacts of the Project:
A.

FISCAL IMPACTS

Recurring Impacts: As reflected in Table A below, the positive Recurring Net Fiscal Impact is
estimated to be $2,171,778 annually, based on $2,196,670 in fiscal revenues and $24,892 in
fiscal costs. Cumulative totals over Years 1-10 of the Project are $21,966,703 in recurring fiscal
revenues and $248,920 in recurring fiscal costs, for a cumulative recurring surplus of
$21,717,783, or nearly $22 million. This large fiscal surplus results primarily from gross receipts
tax (57.2% of total), electrical franchise fees (29.2%) and property tax revenues (12.2%),
together constituting approximately 98.5% of total recurring revenues to the Village General
Fund. Notably, the Villages costs are limited due to the fact that the Project will not create any
new residents, i.e., it is a purely industrial development.
TABLE A
ESTIMATED RECURRING FISCAL IMPACTS TO GENERAL FUND
FULL BUILD-OUT: 6 BUILDINGS, ALL ELECTRICITY USE SUBJECT TO GRT
Fiscal Impact Category
Total Annual Recurring Revenues
Total Annual Recurring Costs
Annual Recurring Surplus/(Deficit)

Average Annual

Cumulative (Years 1-10)

$2,196,670

$21,966,703

($24,892)

($248,920)

$2,171,778

$21,717,783

One-Time Impacts: As shown in Table B below, Local Economic Development Act (LEDA)
assistance is estimated to be $16,453,988. These expenditures are subtracted from the one-time
(construction) GRT revenues of $44,446,705 (of which $42,065,782 is due to building
construction and $2,380,923 is due to infrastructure improvements), to obtain a net one-time
GRT revenue to the Village of $27,992,718, or nearly $28 million.
TABLE B
ESTIMATED ONE-TIME FISCAL IMPACTS TO GENERAL FUND AND LEDA ASSISTANCE
FULL BUILD-OUT: 6 BUILDINGS, ALL ELECTRICITY USE SUBJECT TO GRT
Fiscal Impact Category

Cumulative (Years 1-10)

Gross One-Time (Construction) GRT

Project Antelope Construction
Infrastructure (Public and PNM)
LEDA Assistance
Net One-Time GRT to Village

Fiscal & Economic Impact Study

Facebook Data Center Village of Los Lunas

$44,446,705
$42,065,782
$2,380,923
($16,453,988)
$27,992,718

December 2016
Page 3

Sensitivity Analyses: In addition to analyzing the base case scenario (i.e., six buildings at
build-out with electricity use subject to GRT), DTA conducted the following sensitivity
analyses:

Sensitivity Analysis 1: Full build-out but electricity use is not subject to GRT;
Sensitivity Analysis 2: Phase 1 build-out only and electricity use is subject to GRT; and
Sensitivity Analysis 3: Phase 1 build-out only but electricity use is not subject to GRT.

Tables showing the results of the sensitivity analyses are provided below in Section [Link].

B.

ECONOMIC IMPACTS

DTA used the Impact Analysis for Planning (IMPLAN) input/output modeling system, an
industry standard, to assess the multiplier effect of the Projects expenditures. Our model utilizes
multipliers generated by IMPLAN, which are in turn based primarily on data obtained from federal
agencies such as the U.S. Census Bureau, the Bureau of Economic Analysis (BEA), and the Bureau
of Labor Statistics (BLS). Using these multipliers, we calculated the larger economic effects within
the Village and the County (our two study areas) resulting from the data centers projected
expenditures on construction and operations. In doing so, we looked at three types of impacts:
Direct, Indirect, and Induced.

Direct impacts refer to the initial expenditures made by the data center, within its own
boundaries, as it gets up-and-running and then conducts its operationsfor example, by
paying wages to construction workers and on-site employees.

Indirect impacts relate to the effects of local inter-industry spending via the data centers
supply chain. When the data center spends money on suppliers of janitorial services or
security services, for example, these expenditures will stimulate further spending by the
suppliers on their own vendors, equipment, etc., with ripple effects extending back through
the supply chain (known as backward linkages in IMPLAN terminology).

Lastly, Induced impacts pertain to the data center employees increased spending on
consumption rent, cars, groceries, etc. resulting from the wages they earn by working at
the data center.

These three types of impacts can help us gauge how the Project would economically benefit not
only the business itself, but also the Village and the County. We looked at the impacts on these two
study areas in terms of jobs, wages, gross receipts revenues, and economic output. Note that
economic output, or simply, output, refers to the value of production (similar to GDP): It
consists of items such as labor income, corporate profits, interest income, business taxes, etc.,
(value added) resulting from the data centers activity, combined with the data centers spending
on purchases of goods and services (intermediate expenditures) to generate its production.
For a detailed overview of Direct, Indirect, and Induced impacts, please refer to Section 1.B.

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The Study also distinguishes between one-time economic impacts i.e., impacts related to onetime construction jobs (One-time Construction Jobs) and permanent economic impacts i.e.,
impacts related to the creation of permanent jobs (Permanent Jobs). One-time Construction
Job impacts include benefits to the community that occur on a non-permanent basis as a result of
construction and development activity, while Permanent Job impacts refer to benefits that occur
on a continuing basis, year after year. For a detailed discussion of one-time vs. permanent
impacts, refer to Section 1.
The economic impacts of the Project that are analyzed within the Study are (1) Permanent Jobs
direct-on-site and indirect/induced (which supplies or supports direct employment); (2)
Permanent Job Output (Gross Receipts) total direct output plus output produced by suppliers
and employee spending; (3) One-Time Construction Job impacts; and (4) GRT revenues. As
reflected in Tables C through F below, the Villages/Countys Permanent Jobs and Permanent
Job impacts, as well as their One-Time Construction Jobs, One-time Construction Job impacts,
wages, economic output, and GRT revenues, are all substantially higher following Project
development.

1.

ONE-TIME CONSTRUCTION JOBS, WAGES, AND ECONOMIC OUTPUT

TABLE C
(ALL NUMBERS SUBJECT TO ROUNDING)

One-Time
Impacts

Direct
(On-Site)

Jobs
Within Village
4,125
Countywide
4,125
Wages ($ Millions)
Within Village
$161.53
Countywide
$161.53
Economic Output ($ Billions)
Within Village
$1.48
Countywide
$1.48

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Total
(Incl. Indirect
& Induced)
5,409
5,478
$218.60
$221.65
$1.81
$1.85

December 2016
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2.

PERMANENT JOBS, WAGES, AND ECONOMIC OUTPUT

TABLE D
(ALL NUMBERS SUBJECT TO ROUNDING)

Recurring
Impacts

Direct
(On-Site)

Total
(Incl.
Indirect &
Induced)

Jobs
Within Village
104
Countywide
104
Wages ($ Millions)
Within Village
$9.66
Countywide
$9.66
Economic Output ($ Millions)
Within Village
$22.44
Countywide
$22.44

3.

177
182
$12.92
$13.12
$28.69
$29.62

TOTAL JOBS, WAGES, AND ECONOMIC OUTPUT (ONE-TIME + RECURRING)

TABLE E
(ALL NUMBERS SUBJECT TO ROUNDING)

Total
Impacts

Direct
(On-Site)

Jobs
Within Village
4,229
Countywide
4,229
Wages ($ Millions)
Within Village
$171.19
Countywide
$171.19
Economic Output ($ Billions)
Within Village
$1.50
Countywide
$1.50

Fiscal & Economic Impact Study

Facebook Data Center Village of Los Lunas

Total
(Incl.
Indirect &
Induced)
5,587
5,660
$231.52
$234.77
$1.84
$1.88

December 2016
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4.

GROSS RECEIPTS TAX (GRT) REVENUES

TABLE F
(ALL NUMBERS SUBJECT TO ROUNDING)

GRT

One-Time

($ Millions)
Village
County
TOTAL

$44.86
$20.31
$65.17

Recurring
$12.56
$5.68
$18.24

Total
$57.42
$25.99
$83.41

Note that Direct impacts are identical for both the Village and the County (see Tables C, D, and E above).
The reason is that the Project site (i.e., the data center campus) is assumed to be contained completely
within the Village and not spill over into other parts of the County. (Direct impacts do not go beyond the
Project site itself, whereas Indirect and Induced impacts spill over into other industries and other parts of
the geographic study area.)
One-Time (Construction) Job Impacts: The construction of the building and infrastructure improvements
for the data center produce one-time job impacts, which are as follows: 4,125 Direct jobs; 5,409 and 5,478
total jobs (Direct, Indirect, and Induced) for the Village and the County, respectively. We calculated the
projected number of infrastructure construction employees based on spending estimates and the IMPLAN
multipliers (refer to Appendix B). We based the number of building construction employees on
information provided by Facebook: The Project expects to have direct employment of 1,100 people for the
construction of each set of two buildings, for a total of 3,300 for three phases (i.e., six buildings at buildout).
Recurring (Operations) Job Impacts: In our analysis, we consider third-party contractors working on-site at
the data center to be direct employees along with Facebooks own direct hires. According to Facebook,
roughly 60 contractors and 40 company employees are expected to work on-site in data center operations
during Phase 1 (i.e., two buildings in operation), with slight upticks in later phases. We make the
assumption of 104 direct employees (62 contractors plus 42 company employees) in both our fiscal and
economic impact analyses. Using the IMPLAN multipliers, we arrive at a total of 177 and 182 total
employees (Direct, Indirect, and Induced) for the Village and the County, respectively. These figures
represent permanent/long-term jobs created by the data centers activities.
Total (One-Time + Recurring) Job Impacts: Total Direct jobs, from construction and operations combined,
equal 4,229. The overall total number of jobs created, i.e., Direct, Indirect, and Induced from construction
and operations combined, is 5,587 and 5,660 for the Village and the County, respectively.
Wages: While the Project creates a modest number of permanent jobs in the community, these jobs are
technical in nature and are therefore expected to be high-paying. To obtain wage impacts, we multiply job
impacts by mean annual wages sourced from the BLS Occupational Employment Statistics (OES) data for
the Albuquerque Metropolitan Statistical Area (MSA), which includes Valencia County. Data center
operations jobs are associated with higher mean annual wages than the construction jobs (i.e., $93k as

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opposed to $39k). The number of construction jobs, however, far exceeds the number of operations jobs
created (i.e., 4,000-5,000 as compared to 100-200). Total wages (Direct, Indirect, and Induced) created by
the Project are calculated to be roughly $230 million, with approximately $220 million coming from onetime/construction jobs. Direct wages from recurring impacts (on-site jobs) are about $10 million, with a
total (Direct, Indirect, and Induced) of approximately $13 million for the Village/County. Based on our
calculations, wage impacts are roughly the same for both the Village and the County.
Economic Output: For construction/one-time impacts, output is in the billions; for recurring impacts,
output is in the millions. More specifically, construction output is roughly $1.5 billion (Direct) and $1.8
billion total (Direct, Indirect, and Induced), and these figures are essentially the same for both the Village
and the County. Recurring output resulting from data center operations is about $22 million (Direct) and
about $28-$29 million total (Direct, Indirect, and Induced). As expected, given that the County is a larger
area, output is slightly higher for the County than for the Village.
Gross Receipts Tax: Estimated GRT revenues calculated in our economic analysis are provided above in
Table F. Given the Projects commitment to sourcing locally whenever possible, our analysis assumes that
100% of the construction costs and infrastructure improvement expenditures will be spent within the
County. Applicable GRT rates are 3.0375% for the Village and 1.3750% for the County. Total GRT
revenue is approximately $57.42 million for the Village, $26.0 million for the County, and more than $83.4
million for both areas combined. One-time GRT is about $44.9 million for the Village and $20.3 million
for the County, or $65.2 million combined. Thus, one-time GRT accounts for approximately 78% of the
total GRT (65.2/83.4 ~ 78%). Recurring GRT is based on taxable receipts included in our fiscal impact
analysis: i.e., approximately $320.8 million in spending on Utilities and approximately $92.5 million in
spending on Vendors. These recurring expenditures yield GRT revenues of roughly $12.6 million for the
Village and $5.7 million for the County, or more than $18.2 million combined.
To summarize, although the Project is expected to require a considerable amount of public infrastructure,
the Project is also expected to generate significant new revenues for the Village of Los Lunas. As Tables
A through F illustrate, the Facebook data center in Los Lunas is expected to generate sizeable, substantial,
and lasting employment, wage, output, and revenue impacts. In general, our analysis based on IMPLAN
multipliers shows that the economic impacts from the Project will be positive and slightly higher for the
County than for the Village. The majority of the benefits will be direct (on-site) and one-time
(construction). Nevertheless, the Indirect and Induced impacts show that the data center is expected to
produce additional, off-site economic benefits for the Village and the County.

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SECTION 1

INTRODUCTION

David Taussig and Associates, Inc. (DTA) has been engaged by the Village of Los Lunas (the
Village) to prepare a Fiscal and Economic Impact Study (the Study) that evaluates the likely fiscal
and economic impacts of the proposed development and construction of the Facebook Data Center
(Project Antelope or the Project) on the Village of Los Lunas (the Village) and the County of
Valencia (the County). Specifically, in this Study we examine the Projects fiscal impacts on the
Village and its economic impacts on both the Village and the County. The impact of the Project on the
Villages General Fund was thoroughly analyzed, although Village enterprise and special funds were not
explicitly considered within the Study.
I.

SCOPE AND METHODOLOGY

A.

RECURRING FISCAL IMPACTS

Fiscal impacts arising from a land development plan can be broadly categorized as one of two
types: one-time impacts or recurring impacts. Each of these broad types may, in turn, be divided
into a revenue component and a cost component. For purposes of this Study, it has been
assumed that one-time revenues would directly offset one-time costs; thus, the fiscal impacts
considered in this Study focus on ongoing, or recurring, fiscal impacts of the Project on the
Village General Fund. To the extent that revenues are generated outside of the Villages General
Fund (e.g., special district revenues) or costs are incurred by the Village outside of the General
Fund (e.g., costs financed through a special district), they are not included within this fiscal
analysis.
As previously mentioned, the fiscal impacts projected for the Study are based generally on the
Multiplier Methodology. The primary Multiplier Methodology used to project the fiscal impacts
in this Study was the Per Capita-Employee (Persons Served) Methodology. The Persons
Served Methodology considers the fact that the exact relationship of service demands and
revenue-generating potential between residents and employees is difficult to measure. Thus,
utilizing a service population, or Persons Served population, comprised of all residents and 50%
of employees is common fiscal practice, and suggests that a resident generally has twice the
fiscal impact of an employee. This methodology involves calculating the average Village-wide
revenues/costs per Persons Served, utilizing the fiscal year 2016-2017 Village budget, and
applying these revenue/cost factors to the specific number of Persons Served projected for the
Project.
DTA also used a Per Employee Methodology in the Study to project recurring fiscal factors
based on employment only, such as business license tax revenues. Similar to the Persons Served
Methodology discussed above, the Per Employee Methodology involves calculating the average
Village-wide revenues/costs per employee, utilizing the fiscal year 2016-2017 Village budget,
and applying these factors to the specific number of employees projected under the given
scenario.
While most recurring revenues analyzed in the Study are projected using the Multiplier
Methodology, some major revenue sources, including property taxes and gross receipts taxes, are
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calculated using a Case Study Methodology that involves calculating the marginal revenues to be
specifically generated by a particular land use, instead of applying an average Village-wide
revenue factor. For purposes of the Study, all recurring revenues and costs are stated in constant
(un-inflated) 2016 dollars, based on the assumption that the relative impacts of inflation in future
years will be the same for both of these fiscal impact categories.
Notably, the Village also expends revenues from a series of other special funds outside of the
General Fund. For example, these revenues include various enterprise funds related to water and
sewer services. As these revenues are generally equal to the cost of the services that they
finance, they are essentially break-even and are not typically included in a fiscal analysis for a
municipality. As a result, most fiscal analyses focus on the General Fund, where any shortfalls
or surpluses can be easily identified, and such is the case for this Study.
The study primarily analyzes the recurring fiscal impacts of the Projects development on the
General Fund of the Village. Because one-time revenues typically offset one-time impacts, the
Study does not address one-time revenues (except for estimating gross receipts taxes (GRT) from
construction activities) and focuses mainly on recurring revenues.
Methodology specific to the Facebook Data Center Fiscal Impact Study: Our model is
customized based on our understanding of the terms of proposed agreements between the Village
and the Project. For example, development impact fees will not be paid by the Project, and
therefore these fees are excluded from the fiscal model. Payment in lieu of taxes (PILOT) will
replace property taxes, and special rates negotiated between PNM and the Project are used to
estimate taxable utility billings. The model also incorporates local LEDA payments (the
Village Contribution) to the Project, defined as the lesser of 75% of municipal local option
gross receipts tax revenues from the Project or 10% of General Fund expenditures
(approximately $1.7 million). 1 In sum, the fiscal model reflects the estimated recurring annual
deficit or surplus to the Villages general fund that will result from the development of the
Project.
To project several recurring fiscal factors, the Study employed the Per Capita-Employee
(Persons Served) Methodology. For major revenue sources, such as GRT and franchise fees
for electricity usage, the Study employed the Case Study Methodology.
Caveat: Our study shows that the largest source of recurring revenues to the Village is GRT from
the data centers power consumption, projected to be approximately $9.7 million over 10 years.
Note, however, that this level of GRT revenues from electricity may not be realized if 1) the
Project ceases development prior to full build-out of six buildings, or 2) the Project obtains an
exemption from paying GRT on its electricity consumption.
Construction Schedule and Assumptions: The model assumes full build-out of six buildings
over a 10-year time frame, with a construction period of 24 months per building, square footage
1

Total General Fund Expenditures are approximately $17.37 million based on our analysis of the Village of Los Lunas FY
2016-2017 budget. Total General Fund Expenditures less the projected costs associated with the Villages new fire station
were calculated to be $16.82 million. Refer to the GF Expenditure Summary in Appendix A for detailed information.

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of 489,000 per building, and taxable construction costs of $250 million per building. In addition
to the creation of an estimated 1,100 construction jobs per phase, the model assumes that 50
direct employees per building for operations (or a total of 100 direct employees) will be created
during Phase 1 and that no significant increases in direct employment will occur in later phases.
(We assume a total of 104 direct employees in data center operations in later phases.)
Table 1A below sets out the proposed construction schedule that underpins our analysis.
TABLE 1A
PROJECTED FACEBOOK DATA CENTER CONSTRUCTION SCHEDULE
(ALL NUMBERS SUBJECT TO ROUNDING)
Total
(in
1000
Sq.
Ft.)

Year 1

Year 2

Building 1

489

245

245

Building 2

489

Phase/Building

Year 3

Year 4

245

122

Year 5

Year 6

Year 7

245

122

Year 8

Year 9

Year 10

122

245

122

Phase 1

122

Phase 2
Building 3

489

Building 4

489

245

245
122

Phase 3
Building 5

489

Building 6

489

245

245

Annual Total

245

367

245

367

367

245

367

367

245

122

Cumulative
Total

245

611

856

1,223

1,589

1,834

2,200

2,567

2,812

2,934

B.

GENERAL ECONOMIC IMPACTS

The Study also identifies the general economic impacts on the Village and the County that would
occur due to the Project, and quantifies these impacts wherever possible. General economic
impacts include additions to the Villages and the Countys employment (number of average
annual full- & part-time jobs), economic output (e.g., gross receipts), and earnings (the sum of
wages, salaries and benefits, other labor income, and employer and employee contributions to
Social Security). The Study also distinguishes between one-time economic impacts and
permanent economic impacts. One-time impacts include benefits to the community that occur on
a non-recurring basis as a result of construction and development activity, while permanent,
recurring impacts refer to benefits that occur on a continuing basis, year after year, due to the
data centers ongoing operations. Additionally, for purposes of the Study, all economic impacts
are stated in constant (un-inflated) 2016 dollars, based on the assumption that the relative
impacts of inflation in future years may be difficult to gauge.

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In evaluating economic impacts, the Study quantifies both direct and indirect/induced economic
impacts on the Village and the County. Direct economic impacts reflect the initial or first-round
increases in jobs, earnings, and output, all of which occur directly on-site at the Facebook data
center. Indirect/induced economic impacts are the secondary and other additional rounds of
economic activity that occur as a consequence of the direct impacts, and can occur elsewhere
within the Village. The indirect impacts represent the economic activity buying and selling of
goods and services of suppliers to the land use types analyzed. In this Study, suppliers to the
Facebook data center consist of maintenance and repair professionals, utilities providers,
janitorial services, security services, and various business support services. Furthermore, the
suppliers representing the indirect one-time impacts are mainly heavy industrial and construction
suppliers for the actual development of buildings, infrastructure, and facilities. The induced
impacts represent the economic activity that results from household spending by employees of all
companies directly and indirectly affected by the construction and operation of the land uses
analyzed in this Study. Induced impacts created by the expenditures of employees at the
Facebook data center would include local housing, retail outlets, gas stations, recreation venues
and restaurants, child care facilities, and so forth.
Indirect and induced impacts can occur throughout all industries of the economy, and have been
categorized using the North American Industry Classification System (NAICS). Adopted by the
Office of Management and Budget (OMB) in 1997 to replace the Standard Industrial
Classification System (SIC), NAICS is a widely-used system to classify business establishments
for the collection, analysis, and publication of statistical data in Canada, Mexico, and the United
States. NAICS industries are identified using a six-digit coding system to classify all economic
activity into twenty broad sectors, five of which are mainly goods-producing sectors and fifteen
of which are services-producing sectors. This six-digit hierarchical structure allows for the
identification of nearly 1,170 industries. The broad NAICS sectors include Construction (for
One-Time impacts), and Information Services (for Permanent impacts), which are the focal
NAICS categories analyzed within this Study to determine the indirect and induced economic
impacts generated under the analysis.

(i)

IMPLAN MULTIPLIER METHOD

Although most economists agree that indirect and induced, or multiplier effects exist,
most economists also agree that such effects are difficult to measure. Patterns on
spending and employment among suppliers and employee households often vary over
time and from one region to another. Nevertheless, there are certain input-output models
that can be used to estimate indirect and induced effects.
In quantifying the indirect and induced economic impacts for the Study, DTA utilized the
Impact Analysis for Planning (IMPLAN) Input/Output Modeling System, a type of
quantitative economic model that provides an approximate measure of the multiplier
effect of a firms spending on payroll and the purchasing of goods and services. Like
similar econometric models, IMPLAN helps to calculate the flow of payments for goods
and services across different industry sectors, and between households and industries.

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The IMPLAN model can be envisioned simply as a large spreadsheet with hundreds of
industries (plus the household sector) arrayed across the top as producers, and the same
industries and households listed down the side as consumers. Each million dollars
(output) in spending by any one consumer (i.e., the Project) is allocated across the
producing industries from which it buys goods and services. These producing industries,
in turn, spend money buying goods and services from their own distinct sets of suppliers.
Thus, the IMPLAN multiplier model allows one to gauge the effect on each dollar an
industry spends as it diffuses through a regional economy. Furthermore, it allows one to
translate the overall regional impact of spending into jobs and employee compensation.
Please refer to Table 1B for a diagram of the multiplier effect.
TABLE 1B
EXAMPLE OF THE MULTIPLIER EFFECT (INDIRECT AND INDUCED OUTPUT)
Facebook Data Center

The multiplier factors available to determine indirect/induced impacts are intended to

reflect impacts for entire areas within a zip code. Therefore, the indirect/induced impacts
identified in this Study to occur within the Village and County boundaries are based on
assumptions established by DTA and are subject to change. Please refer to Appendix B
for further information.

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II.

LIMITATIONS
A.

ACCURACY OF INFORMATION

The fiscal and economic models in the Study contain an analysis of revenues, costs, and impacts
to the Village resulting from the Project. These models are based on both (i) information
provided to DTA by Facebook and Village staff and (ii) certain DTA assumptions taken from
DTAs municipal cost database, as compiled by DTA from previous fiscal impact studies
prepared by the firm. The sources of information and basis of the estimates calculated in the
Study are stated herein. While DTA is confident that the sources of information are reliable,
DTA does not express an opinion or any other form of assurance on the accuracy of such
information. The analysis of fiscal impacts contained in this report is not considered to be a
financial forecast or a financial projection as technically defined by the American Institute
of Certified Public Accountants. The word projection used within this report relates to broad
expectations of future events or market conditions. Since the analyses contained herein are
based on estimates and assumptions that are inherently subject to uncertainty and variation
depending on evolving events, DTA cannot represent that such estimates will definitely be
achieved. Some assumptions inevitably will not materialize, and unanticipated events and
circumstances may occur; therefore, the actual results achieved may vary from these projections
stated throughout the Study.
In addition, the fiscal analysis included herein focuses on the impacts of the Project if it were
built during fiscal year 2016-2017, based on cost and revenue criteria and assumptions existing
during that fiscal year. As is the case for most General Fund fiscal analyses, it would be
speculative to project future cost and revenue factors because there is no certainty regarding what
those factors will be. Assumptions made regarding the relative levels of cost and revenue
increases for certain factors in future years would typically create a bias in the fiscal analysis that
could in itself invalidate the results of the Study. Village staff has reviewed the Taussig Fiscal
and Economic Impact Study and finds the general approach and methods of estimation
reasonable based on facts and external factors known today. Due to the long-term nature of the
project and therefore the projections, the actual results may vary from the projections. This
report is based upon analyses, projections and estimations that rely upon the best available data
and the current state-of-art approach in conducting such analyses.

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SECTION 2

DESCRIPTION OF RECURRING FISCAL REVENUES/COSTS

The following section presents the recurring revenue and cost impacts to the Village General Fund and
the methodology and assumptions utilized in the Study to project these impacts. Detailed numerical
analyses of the revenue and cost impacts subsequently discussed in this section are contained in
Appendix A. Revenues excluded from this analysis include miscellaneous non-recurring revenues, as
well as intergovernmental revenues (such as grants), legislative appropriation, funding for capital
projects, and park impact fees (from which the Project is exempt).
I.

ANALYSIS OF RECURRING REVENUES

CASE STUDY METHOD:
A.

PROPERTY TAXES PAYMENT IN LIEU OF TAXES (PILOT)

Pursuant to a Village ordinance for the issuance of Industrial Revenue Bonds, payment in lieu of
taxes (PILOT) will replace property taxes; that is, the Project is exempted from property tax
liability through agreements with the Village. Based on information provided by Facebook and
the Village, in our model we assumed PILOT starting at $50,000 for the first building and
increasing by $10,000 for each additional building. For example, PILOT would be $50,000 for
Building 1 (annually over the ten-year build-out period), $60,000 for Building 2, $70,000 for
Building 3, and so forth. Please refer to Appendix A for detailed information regarding the
property tax and PILOT assumptions utilized in the fiscal impact analysis.
B.

GROSS RECEIPTS TAX (GRT)

Historically, GRT is one of the General Funds largest revenue sources, constituting roughly
76% of the included General Fund revenues in our analysis of the Villages FY 2016-2017
budget. Based on estimates provided by Facebook, our model includes recurring GRT associated
with taxable expenditures on data center vendors and utilities (with the utilities mainly consisting
of electricity consumption). Our model also includes non-recurring GRT from the Projects
expenditures on data center building construction and infrastructure improvements. Please refer
to Appendix A for detailed information regarding the GRT assumptions utilized in the fiscal
impact analysis. Additionally, a breakdown of the applicable Village and County GRT rates is
provided in Exhibit 2 of Appendix B.
C.

ELECTRICITY FRANCHISE FEES

Facebook has stated that it anticipates the Village will collect approximately $260,000 per
building per year in electricity franchise fees as a result of the data centers energy usage. Please
refer to Appendix A for detailed information regarding the electricity franchise fee assumptions
utilized in the fiscal impact analysis. Note that the fiscal impacts of other franchise fees were
obtained using the Persons Served method, described below in Section 2.I.f.

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D.

INVESTMENT INCOME REVENUES

Investment Income revenues are generated by the increase in General Fund Revenues resulting
from the Project. This increase reflects growth in the following revenue categories: PILOT,
franchise fees, gross receipts taxes, and multiplier revenues (as discussed below). Our model for
calculating Investment Income assumes an investment period for recurring non-interest general
fund revenues of 12 months; a Local Government Investment Pool (LGIP) approximate rate of
return of 0.395%; and LGIP participation costs of 5 basis points, or 0.05%. Historic LGIP rates
of return are sourced from the New Mexico State Treasurers Office (STO) website.
The projected Investment Income revenues (less earnings cost) generated by our model are not
stable over the build-out period, but fluctuate within the range of approximately $8,000 to
$23,000. Please refer to Appendix A for investment income for each year of the build-out
period.
MULTIPLIER METHOD:
E.

AUTO TAXES

Auto Tax revenues to the Village General Fund are anticipated to increase due to Village
population growth only, as opposed to employees or persons served. Therefore, Auto Tax
revenues were projected at $8.68 per resident using the Per Capita Multiplier Method.
F.

OTHER FRANCHISE FEES

Revenues from other franchise fees apart from electricityconsisting of telephone, gas, and
cable vision franchise feeswere forecasted at $7.18 per Persons Served using the Per CapitaEmployee Multiplier Method.
G.

LICENSES AND PERMITS

Licenses and Permits are based on the Villages collection of fees for various types of permits
and registrations, including building permits, liquor licenses, dog licenses, and business
registrations. Revenues are forecast using a Per Capita-Employee Multiplier Method that results
in a total multiplier of $4.53 per Persons Served.
H.

FINES

This revenue category represents fines and penalties collected by the Village for various
infractions, including court fines and parks citation revenues. Fines are forecasted at $3.33 per
Persons Served using the Per Capita-Employee Multiplier Method.

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I.

SUMMARY OF GENERAL FUND REVENUE CATEGORIES

Table 2A below shows the multiplier amounts for each General Fund revenue category that our
model forecasts utilizing the Per Capita or Per Capita-Employee (Persons Served) Multiplier
Method. Categories projected using the Case Study method are also indicated.
TABLE 2A GENERAL FUND REVENUES (MULTIPLIER METHOD)
Category
Property Tax
Franchise Fees - Electrical
Franchise Fees - Other
Gross Receipts Tax (GRT)
Auto Taxes
Licenses and Permits
Fines
Interest Revenues

Multiplier

Methodology

N/A
N/A
$7.18
N/A
$8.68
$4.53
$3.33
N/A

Case Study
Case Study
Persons Served
Case Study
Per Capita
Persons Served
Persons Served
Case Study

CHARGES FOR SERVICES:

Charges for services, which are listed as General Fund revenues in the Village budget for FY
2016-2017, are deducted from General Fund expenditures in our model. For example, the
Village budget includes charges for printing and copying, facility usage, property rental, Solid
Waste Fund and Water/Sewer Fund bookkeeping, etc., as General Fund revenues; we subtracted
these revenues from General Government expenditures in our model. Similar charges for
services were offset against expenditures on Public Works; Public Safety: Police; and Culture
and Recreation.
Please refer to Appendix A for more details on the case study assumptions and revenue
multipliers utilized in the Study.

II.

ANALYSIS OF RECURRING COSTS

CASE STUDY METHOD:
A.

GENERAL GOVERNMENT COSTS

Total General Fund expenditures included in our fiscal analysis amount to roughly $13 million
after adjusting for charges for services. (About $3 million in capital outlay costs for
administration and community services parks were excluded from the analysis as non-recurring
expenditures.) In our model, we calculate total General Government overhead for FY 2016-2017
by taking the recurring General Government expenditures and adjusting for charges for General
Government services: i.e., $1,898,567 (GF expenditures) less $1,012,397 (charges) equals
$886,170. General Government overhead costs are projected at a marginal rate of 7.30% of the
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Village General Fund recurring costs, based on the assumption that the FY 2016-2017 General
Government expenditures, equaling $886,170, will remain at the same relative proportion of the
FY 2016-2017 Village General Fund non-governmental expenditures of approximately $12
million in future years. Our model assumes that General Government costs can be expected to
increase on a one-for-one basis as a result of the data center land use development depicted in
this Study. Therefore, this Study assumes that General Government costs increase at an
estimated marginal rate of 100%, that is, at the full 7.30% General Government cost overhead
rate. This approach results in projected annual General Government overhead costs of
approximately $2,394 associated with the Project, obtained by multiplying the total multiplier
expenditures of $32,778 by the rate of 7.30%.
Importantly, as discussed above, the fiscal analysis included herein focuses on the impacts of the
Project as if it were built during fiscal year 2016-2017, based on cost criteria and assumptions
existing during that fiscal year. As is the case for most General Fund fiscal analyses, it would be
speculative to project future cost factors because there is no certainty regarding what those
factors will be. Therefore, any assumptions made regarding the relative levels of cost and
revenue increases in future years would likely to create bias in the analysis that could lead to the
invalidation of the results of the Study.
MULTIPLIER METHOD:
B.

MUNICIPAL COURT

Municipal Court costs include personnel services (e.g., judge, court clerks) as well as operating
expenditures (e.g., attorney fees, data processing, office supplies, etc.). Costs in this category
were projected at $15.83 per Persons Served using the Per Capita-Employee Multiplier Method.
C.

PUBLIC WORKS

Public Works costs, including Administration, Engineering, and Operations and Maintenance
expenses, were projected at $67.83 per Persons Served using the Per Capita-Employee
Multiplier Method. The Public Works Department consists of the Streets Division and the Fleet
Maintenance Division, which have multipliers of $44.82 and $23.01, respectively.
D.

DEVELOPMENT SERVICES (COMMUNITY DEVELOPMENT)

Development Services costs, in our model, refer to costs associated with the Community
Development department. This category, which includes certain costs associated with Village
Planning, Code Enforcement, Economic Development, and Professional Services, was forecasted
at $49.23 per Persons Served based on the Per Capita-Employee Multiplier Method.
E.

PUBLIC SAFETY

In total, Public Safety costs were forecasted at $339.74 per Persons Served based on the Per
Capita-Employee Multiplier Method. Public Safety costs, in our model, consist of Law
Enforcement and Fire Department costs, as well as estimated personnel services and operating
costs to be allocated to the Villages new fire station. Law Enforcement (i.e., Police Department)
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includes costs associated with Police Services and Patrol, Administration, Traffic Enforcement,
Crime Prevention, Volunteer Programs, and Community-Based Policing. Law Enforcement
costs comprise about 65% of the Public Safety category and are forecasted at $221.65 per
Persons Served using the Per Capita-Employee Multiplier Method. Fire Department services
include costs associated with Fire Suppression, Fire Prevention, Emergency Medical Technicians
(EMTs), Equipment and Vehicles, Volunteer Programs, Outreach, and Training. Existing fire
services costs financed through the General Fund are forecasted at $89.69 per Persons Served
using the Per Capita-Employee Multiplier Method; in addition, the new fire station is associated
with personnel and operating costs forecasted at $14.01 and $14.39, respectively, per Persons
Served.
F.

CULTURE AND RECREATION

Culture and Recreation costs, which include Community Services (Parks & Recreation) and
Library Department services, are forecasted at $157.74 per Persons Served using the Per CapitaEmployee Multiplier Method. The Parks, Recreation, Open Space, and Facility Maintenance
Division costs (e.g., park rangers, supervisors, sports and youth coordinators, special events, and
building & grounds maintenance) are projected at $117.77 per Persons Served, while Library
Department services (e.g., Outreach, Education, and Technical Services) are forecasted as $39.97
per Persons Served.
G.

SUMMARY OF GENERAL FUND EXPENDITURE CATEGORIES

Table 2B below shows the multiplier amounts for each General Fund expenditure category that
our model forecasts utilizing the Per Capita-Employee (Persons Served) Multiplier Method.
General Government, the category projected using the Case Study method, is also listed therein.
TABLE 2B GENERAL FUND COSTS (MULTIPLIER METHOD)
Category
Multiplier Methodology
General Government
Case Study
N/A
Municipal Court
Persons Served
$15.83
Public Works
Persons Served
$67.83
Development Services
Persons Served
$49.23
Public Safety
$339.74 Persons Served
Culture and Recreation $157.74 Persons Served

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SECTION 3
I.

FISCAL IMPACTS

TOTAL RECURRING REVENUES: VILLAGE OF LOS LUNAS

Total recurring revenues to the Village equal approximately $13,149,258 per year. As illustrated
in Table 3A below, the largest percentage of revenue is attributed to gross receipts tax (~76% of
total) and property tax (~19%), together constituting about 95% of total recurring revenues to the
Village General Fund. Exhibits 1-6 of Appendix A provide additional details about all
recurring revenues and the assumptions used in their derivation.
TABLE 3A
RECURRING FISCAL REVENUES (VILLAGE GENERAL FUND)
Category
Property Tax
Franchise Fees Electrical
Franchise Fees Other
Gross Receipts Tax
Auto Taxes
Licenses and Permits
Fines
Interest Revenues
Total Revenues

Amount Percent*
$2,449,122
18.63%
$286,644
2.18%
$138,183
1.05%
$9,981,487
75.91%
$138,285
1.05%
$87,137
0.66%
$64,100
0.49%
$4,300
0.03%
$13,149,258 100.00%

*Numbers may not sum due to rounding

II.

TOTAL RECURRING SERVICES COSTS: VILLAGE OF LOS LUNAS

As illustrated in Table 3B below, total annual recurring costs to the Village (adjusted for
Charges for Services) are estimated at $13,018,774 per year. A majority of the costs are
estimated to result from Public Safety (~50% of total) and Culture and Recreation (~23%),
together constituting about 73% of total recurring services costs to the Village General Fund. As
mentioned above in Section II.2.E-F, the largest portion of Public Safety costs are associated
with Law Enforcement (Police Department) services, and most of the Culture and Recreation
costs are attributed to the Parks, Recreation, Open Space, and Facility Maintenance Divisions.
Exhibits 2 and 7-10 of Appendix A provide additional details about all recurring costs and the
assumptions used in their derivation.

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TABLE 3B
RECURRING FISCAL COSTS (VILLAGE GENERAL FUND)
Category
General Government
Municipal Court
Public Works
Development Services
Public Safety
Culture and Recreation
Total Costs

Amount
$886,170
$304,705
$1,305,387
$947,520
$6,538,844
$3,036,148

Percent*
6.81%
2.34%
10.03%
7.28%
50.23%
23.32%

$13,018,774

100.00%

*Numbers may not sum due to rounding

III.

OVERALL NET FISCAL IMPACT TO THE VILLAGE OF LOS LUNAS

A.

RECURRING NET FISCAL IMPACT

As reflected in Table 3C below, the positive Recurring Net Fiscal Impact is estimated to be
$2,171,778 annually, based on $2,196,670 in fiscal revenues and $24,892 in fiscal costs.
Cumulative totals over Years 1-10 of the Project are $21,966,703 in recurring fiscal revenues and
$248,920 in recurring fiscal costs, for a cumulative recurring surplus of $21,717,783, or nearly
$22 million. This large fiscal surplus results primarily from gross receipts tax (57.2% of total),
electrical franchise fees (29.2%) and property tax revenues (12.2%), together constituting
approximately 98.5% of total recurring revenues to the Village General Fund. Notably, the
Villages costs are limited due to the fact that the Project will not create any new residents, i.e., it
is a purely industrial development. A summary of the overall fiscal impacts to the Village is
provided in Appendix A.
TABLE 3C
ESTIMATED RECURRING FISCAL IMPACTS TO GENERAL FUND
Fiscal Impact Category

Average
Annual

Total Annual Recurring Revenues

$2,196,670

$21,966,703

($24,892)

($248,920)

Annual Recurring Surplus/(Deficit)

$2,171,778

$21,717,783

Total Annual Revenue/Cost Ratio

88.25

Annual Surplus per 1,000 SF Building Space

$740.21

Total Annual Recurring Costs

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B.

ONE-TIME NET FISCAL IMPACT

As shown in Table 3D below, Local Economic Development Act (LEDA) assistance is

estimated to be $16,453,988. These expenditures are subtracted from the one-time (construction)
GRT revenues of $44,446,705 (of which $42,065,782 is due to building construction and
$2,380,923 is due to infrastructure improvements), to obtain a net one-time GRT revenue to the
Village of $27,992,718, or nearly $28 million.
TABLE 3D
ESTIMATED ONE-TIME FISCAL IMPACTS TO GENERAL FUND AND LEDA ASSISTANCE
Fiscal Impact Category

Cumulative (Years 1-10)

Gross One-Time (Construction) GRT

Project Antelope Construction
Infrastructure (Public and PNM)

$44,446,705
$42,065,782
$2,380,923

LEDA Assistance

($16,453,988)

Net One-Time GRT to Village

IV.

$27,992,718

SENSITIVITY ANALYSES
In addition to analyzing fiscal impacts for the base case scenario (i.e., six buildings at build-out
with electricity use subject to GRT), DTA conducted the following sensitivity analyses:

Sensitivity Analysis 1: Full build-out but electricity use is not subject to GRT;
Sensitivity Analysis 2: Phase 1 build-out only and electricity use is subject to GRT; and
Sensitivity Analysis 3: Phase 1 build-out only but electricity use is not subject to GRT.

The results of the three sensitivity analyses are summarized in Tables 3E through 3K below.

TABLE 3E
ESTIMATED RECURRING FISCAL IMPACTS TO GENERAL FUND
SENSITIVITY ANALYSIS 1
FULL BUILD-OUT: 6 BUILDINGS, ELECTRICITY USE IS NOT SUBJECT TO GRT
Fiscal Impact Category
Total Annual Recurring Revenues
Total Annual Recurring Costs
Annual Recurring Surplus/(Deficit)

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Facebook Data Center Village of Los Lunas

Average Annual

Cumulative (Years 1-10)

$1,218,275

$12,182,747

($24,892)

($248,920)

$1,193,383

$11,933,827

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TABLE 3F
ESTIMATED ONE-TIME FISCAL IMPACTS TO GENERAL FUND AND LEDA ASSISTANCE
SENSITIVITY ANALYSIS 1
FULL BUILD-OUT: 6 BUILDINGS, ELECTRICITY USE IS NOT SUBJECT TO GRT
Fiscal Impact Category

Cumulative (Years 1-10)

Gross One-Time (Construction) GRT

Project Antelope Construction
Infrastructure (Public and PNM)

$44,446,705
$42,065,782
$2,380,923

LEDA Assistance

($16,453,988)

Net One-Time GRT to Village

$27,992,718

TABLE 3G
ESTIMATED RECURRING FISCAL IMPACTS TO GENERAL FUND
SENSITIVITY ANALYSIS 2
PHASE 1 ONLY: 2 BUILDINGS, ELECTRICITY USE IS SUBJECT TO GRT
Fiscal Impact Category
Total Annual Recurring Revenues
Total Annual Recurring Costs
Annual Recurring Surplus/(Deficit)

Average Annual

Cumulative (Years 1-10)

$1,325,548

$13,255,475

($24,520)

($245,200)

$1,301,028

$13,010,276

TABLE 3H
ESTIMATED ONE-TIME FISCAL IMPACTS TO GENERAL FUND AND LEDA ASSISTANCE
SENSITIVITY ANALYSIS 2
PHASE 1 ONLY: 2 BUILDINGS, ELECTRICITY USE IS SUBJECT TO GRT
Fiscal Impact Category

Cumulative (Years 1-10)

Gross One-Time (Construction) GRT

Project Antelope Construction
Infrastructure (Public and PNM)
LEDA Assistance
Net One-Time GRT to Village

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Facebook Data Center Village of Los Lunas

$14,467,825
$14,021,927
$445,897
($6,361,033)
$8,106,792

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TABLE 3I
ESTIMATED RECURRING FISCAL IMPACTS TO GENERAL FUND
SENSITIVITY ANALYSIS 3
PHASE 1 ONLY: 2 BUILDINGS, ELECTRICITY USE IS NOT SUBJECT TO GRT
Fiscal Impact Category

Average Annual

Cumulative (Years 1-10)

Total Annual Recurring Revenues

$769,205

$7,692,053

Total Annual Recurring Costs

($24,520)

($245,200)

Annual Recurring Surplus/(Deficit)

$744,685

$7,446,853

TABLE 3J
ESTIMATED ONE-TIME FISCAL IMPACTS TO GENERAL FUND AND LEDA ASSISTANCE
SENSITIVITY ANALYSIS 3
PHASE 1 ONLY: 2 BUILDINGS, ELECTRICITY USE IS NOT SUBJECT TO GRT
Fiscal Impact Category

Cumulative (Years 1-10)

Gross One-Time (Construction) GRT

Project Antelope Construction
Infrastructure (Public and PNM)

$14,467,825
$14,021,927
$445,897

LEDA Assistance

($6,361,033)

Net One-Time GRT to Village

$8,106,792

TABLE 3K
SUMMARY TABLE
ESTIMATED CUMULATIVE RECURRING SURPLUS (DEFICIT), YEARS 1-10
Electricity GRT

No Electricity GRT

Full Build-out: 6 Buildings

$21,717,783

$11,933,827

Phase 1 Only: 2 Buildings

$13,010,276

$7,446,853

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SECTION 4

ECONOMIC IMPACTS

In addition to assessing fiscal impacts, the Study also identifies the general economic impacts on the
Village and the County that would occur due to the Project, and quantifies these impacts wherever
possible. General economic impacts include additions to the Villages and Countys employment
(number of average annual full- & part-time jobs), economic output (e.g., gross receipts), and earnings
(the sum of wages, salaries and benefits, other labor income, and employer and employee contributions
to Social Security). The Study also distinguishes between one-time economic impacts i.e., impacts
related to one-time construction jobs (One-time Construction Jobs), and permanent economic impacts
i.e., impacts related to the creation of permanent jobs (Permanent Jobs). One-time Construction Job
impacts include benefits to the community that occur on a non-permanent basis as a result of
construction and development activity, while Permanent Job impacts refer to benefits that occur on a
continuing basis, year after year, due to the Facebook data centers ongoing operations.
I.

PERMANENT JOB IMPACTS

A.

ASSUMPTIONS

In evaluating economic impacts, the Study quantifies both direct and indirect/induced economic
impacts on the Village and the County. Direct economic impacts, as defined in Section 1 of this
Study, reflect the initial or first-round increases in jobs, earnings, and output, all of which occur
directly on-site at the data center. Indirect/induced economic impacts, as further explained in
Section 1, are the secondary and other additional rounds of economic activity that occur as a
consequence of the direct impacts, and can occur elsewhere within the Village and the County.
The indirect impacts represent the economic activity buying and selling of goods and services
of suppliers to the land use types analyzed. In this Study, suppliers to the Facebook data center
consist of maintenance and repair professionals, utilities providers, janitorial services, security
services, and various business support services. Furthermore, the suppliers representing the
indirect one-time impacts are mainly heavy industrial and construction suppliers for the actual
development of buildings, infrastructure, and facilities. The induced impacts represent the
economic activity that results from household spending by employees of all companies directly
and indirectly affected by the construction and operation of the data center.
Indirect and induced impacts can occur throughout all industries of the economy, and have been
categorized using the North American Industry Classification System (NAICS). Adopted by the
Office of Management and Budget (OMB) in 1997 to replace the Standard Industrial
Classification System (SIC), NAICS is a widely-used system to classify business establishments
for the collection, analysis, and publication of statistical data in Canada, Mexico, and the United
States. NAICS industries are identified using a six-digit coding system to classify all economic
activity into twenty broad sectors, five of which are mainly goods-producing sectors and fifteen
of which are services-producing sectors. This six-digit hierarchical structure allows for the
identification of nearly 1,170 industries. The broad NAICS sectors include Construction (for
One-Time impacts), and Information Services (for Permanent impacts), which are the focal
NAICS categories analyzed within this Study to determine the indirect and induced economic
impacts generated under the analysis.

Fiscal & Economic Impact Study

Facebook Data Center Village of Los Lunas

December 2016
Page 25

Based on information provided by Facebook, the Project is comprised of a 300-acre data center
with up to six buildings anticipated to be constructed over a period of up to 10 years. Net
developable land is approximately 63.36 acres, with a total building space of roughly 2.93
million square feet for six buildings (i.e., 489,000 square feet per building). A detailed overview
of assumptions used in this Study regarding direct jobs, wages, and economic output, is provided
in the following paragraphs.
1.

Direct Employees Assumptions

Recurring (Operations) Job Assumptions: In our analysis, we consider third-party

contractors working on-site at the data center to be direct employees along with
Facebooks own direct hires. According to Facebook, roughly 60 contractors and 40
company employees are expected to work on-site in data center operations during Phase
1 (i.e., two buildings in operation), with slight upticks in later phases. We make the
assumption of 104 direct employees (62 contractors plus 42 company employees) in both
our fiscal and economic impact analyses.
One-Time (Construction) Job Assumptions: DTA calculated the projected number of
infrastructure construction employees based on spending estimates and the IMPLAN
multipliers (refer to Table 4A and Appendix B). We based the number of building
construction employees on information provided by Facebook: The Project expects to
have direct employment of 1,100 people for the construction of each set of two buildings,
for a total of 3,300 for three phases (i.e., six buildings at build-out). Direct employees
working on PNM electrical improvements and public infrastructure improvements were
calculated to be 806 and 19, respectively. These figures bring the total number of onetime direct job impacts to 4,125.
Total (Recurring + One-Time) Direct Job Assumptions: DTA's analysis is based on the
assumption that the Project will directly employ a total of 4,229 (i.e., 104 recurring +
4,125 one-time) employees in data center construction and operations combined. These
employees are assumed to be Full Time Equivalent (FTE) employees, meaning that
part-time employees are only counted based on the percentage of forty (40) hours per
week that they are working. Understandably, it takes two half-time (1/2) employees to
equal one FTE employee.
2.

Annual Income Assumptions

The source of the mean annual income figures used in our analysis is Bureau of Labor
Statistics (BLS) Occupational Employment Statistics (OES) data for Albuquerque, NM
Metropolitan Statistical Area (MSA), updated May 2015. We applied these data to both
the Village of Los Lunas and Valencia County since these study areas belong to the
Albuquerque MSA. Mean annual wages are given by the BLS OES for different Standard
Occupational Classification (SOC) codes. The BLS OES also provides the overall mean
annual wages across all SOC codes for the Albuquerque MSA: $44,440. We used this
figure in our analysis to represent mean annual wages countywide.

Fiscal & Economic Impact Study

Facebook Data Center Village of Los Lunas

December 2016
Page 26

For Construction of the data center buildings, public infrastructure, and PNM electrical
infrastructure improvements, we used mean annual income of $39,160, which reflects the
SOC code 47-0000: Construction and Extraction Occupations.
For Operations (i.e., both Facebook employees and 3rd party contractors working at the
data center), we used mean annual income of $92,850, which reflects an average of
annual mean wages for the following SOC codes: 11-3021 Computer and Information
System Managers, and 15-0000 Computer and Mathematical Occupations.
Notably, the average annual income listed under the "Construction and Extraction
Occupations" category, i.e., $39,160, is close to the average countywide annual income
of $44,440. As a result, the wages to be paid to building/infrastructure Construction
employees at the Facebook data center are almost identical to the average incomes
currently earned by employed Village and County residents across all occupations. By
contrast, employees working on-site in Operations at the Facebook data center,
depending on their level and role, stand to earn more than double the average annual
income for local residents: the mean annual wages calculated for computer- and
information systemrelated positions equal $92,850, as opposed to the countywide
average annual income of $44,440 across all occupations.
3.

IMPLAN Multipliers by Industry Code

Our economic impact model utilizes the Impact Analysis for Planning (IMPLAN)
Input/Output Modeling System, a type of quantitative economic model that provides an
approximate measure of the multiplier effect of a firms spending on payroll and the
purchasing of goods and services. Like similar econometric models, IMPLAN helps to
calculate the flow of payments for goods and services across different industry sectors,
and between households and industries. Unlike similar econometric models, e.g., the
Regional Input-Output Modeling System (RIMS II), IMPLAN is the industry standard.
RIMS II and IMPLAN both include induced effects, but RIMS II differs from IMPLAN
in two ways: (i) RIMS II uses a single household type for induced personal consumption
while IMPLAN uses nine (9) household types; and (ii) RIMS II uses the traditional single
row/column Type II formulation whereas IMPLAN uses a more robust mapping of factor
income to household consumption using several sub-matrices. RIMS II uses location
quotients to regionalize the national technical coefficients, a method which
underestimates inter-regional trade and overestimates regional multipliers when crosshauling is present.
The IMPLAN model can be envisioned simply as a large spreadsheet with hundreds of
industries (plus the household sector) arrayed across the top as producers, and the same
industries and households listed down the side as consumers. Each million dollars
(output) in spending by any one consumer (i.e., the Project) is allocated across the
producing industries from which it buys goods and services. These producing industries,
in turn, spend money buying goods and services from their own distinct sets of suppliers.
Thus, the IMPLAN multiplier model allows one to gauge the effect on each dollar an
industry spends as it diffuses through a regional economy. Furthermore, it allows one to

Fiscal & Economic Impact Study

Facebook Data Center Village of Los Lunas

December 2016
Page 27

translate the overall regional impact of spending into jobs and employee compensation.
IMPLAN provides multipliers listed by industry codes. Multipliers used in the economic
impact analysis for each activity category are as follows:
Recurring (Operations) Impacts: The IMPLAN Employment and Output multipliers used
for Operations i.e., for both Facebook employees and 3rd Party Contractors working onsite in data center operations are based on Industry Code 430: Data processing,
hosting, and related services.
One-Time (Construction) Impacts: The IMPLAN Employment and Output multipliers
used for Data Center (Building) Construction are based on Industry Code 58:
Construction of other new nonresidential structures. For PNM Electrical Infrastructure
Improvements, our model utilizes multipliers for Industry Code 54: Construction of new
power and communication structures. Lastly, for Public Infrastructure Improvements
(Water, Sewer, Pond, and Road), we used an average of multipliers for the following:
Industry Code 56: Construction of new highways and streets; and Industry Code 58:
Construction of other new nonresidential structures.
4.

Build-Out Assumptions

A detailed review and analysis of future market conditions is not included within the
scope of the Study. It is important, however, to consider how changing market
conditions may ultimately affect the results described in this analysis.
In terms of the absorption of the Project, Facebook projects a build-out of up to six
buildings over approximately ten (10) years. The Project inherently involves some
uncertainty and risk, since it is possible that instead of all three phases, only Phases 1 and
2 (four buildings in total) or only Phase 1 (two buildings in total) might be completed at
build-out. Reducing the number of buildings will decrease the economic benefits (e.g.,
GRT revenues) that the Village and the County can expect to achieve. Yet, recurring
(permanent) jobs at the data center will remain constant at approximately 100 employees
regardless of the number of buildings completed beyond Phase 1. Apart from direct
operations employment, the economic impacts prior to build-out generally will be
proportional to the amount of the Project that has been completed at any point in time.
Once build-out occurs, the economic impacts are expected to be consistent with the
conclusions of the Study. In the analysis below, DTA has incorporated a discussion of
the economic benefits that may be achieved during the absorption period. (Please refer to
Section [Link] below for Sensitivity Analyses for two and four buildings, instead of six, at
build-out.)
Other assumptions used to analyze the economic impact of the Project are summarized in
Table 4A on the following page.

Fiscal & Economic Impact Study

Facebook Data Center Village of Los Lunas

December 2016
Page 28

TABLE 4A
ASSUMPTIONS
Assumptions
Land Use Assumptions
Data Center (per Building)
Data Center (Total for Six Buildings)
Employment Assumptions [1]
Data Center Construction

Sq. Ft.
489,000
2,934,000
Employees
3,300

Data Center Operations Company

42

Data Center Operations 3rd Party Contractors

62

Public Infrastructure Improvements [2]

19

PNM Electrical Infrastructure Improvements [2]

806

Wage Assumptions [3]

Annual $

Data Center Construction [4]

$39,160

Data Center Operations Company [5]

$92,850

Data Center Operations 3rd Party Contractors

[5]

$92,850

Public Infrastructure Improvements [4]

$39,160

PNM Electrical Infrastructure Improvements [4]

$39,160

Output Assumptions [1]

Direct Output

Data Center Construction

$1.5 Billion

Data Center Operations Company [2]

$9.1 Million

Data Center Operations 3rd Party Contractors

[2]

$13.4 Million

Public Infrastructure Improvements

PNM Electrical Infrastructure Improvements

$3 Million
$96.6 Million

[1] Source: Facebook (Project Antelope)

Note: This study assumes that the Output or Total Cost estimates provided by Facebook are
inclusive of GRT. Therefore, we use the formula TC = C(1+r), where "TC" is Total Cost; "C" is
Cost; and "r" is the Village GRT rate of 3.0375%.
[2] Infrastructure Employment figures were not assumed, but calculated (using IMPLAN multipliers)
based on Infrastructure Output estimates provided by Facebook. Similarly, Operations Output figures
were calculated based on Operations Employment estimates provided.
[3] Source: Bureau of Labor Statistics (BLS) Occupational Employment Statistics (OES) data for
Albuquerque, NM Metropolitan Statistical Area (MSA) (May 2015)
[4] Based on mean annual wages for SOC code 47-0000: Construction and Extraction Occupations.
[5] Based on an average of mean annual wages for the following SOC codes: 11-3021: Computer and
Information System Managers, and 15-0000: Computer and Mathematical Occupations.

Fiscal & Economic Impact Study

Facebook Data Center Village of Los Lunas

December 2016
Page 29

B.

PERMANENT JOB CREATION & EMPLOYEE WAGES

Development of the Facebook data center will contribute to the creation of Permanent Jobs in the
Village and the County. As shown below in Table 4B, development of the Project is projected
to generate approximately 177 estimated total new Permanent Jobs within the Village and 182
within the County (including those jobs within the Village). Since the analyses contained herein
are based on estimates and assumptions that are inherently subject to uncertainty and variation
depending on evolving events, DTA cannot represent that such estimates will definitely be
achieved. Some assumptions inevitably will not materialize, and unanticipated events and
circumstances may occur; therefore, the actual results achieved may vary from the projections
stated throughout the Study.
In addition to these employment opportunities, DTA estimates that the Project will generate new
off-site Permanent Jobs in all industries of the economy, which constitute the indirect/induced
Permanent Job impacts of the project. Seventy-eight (78) indirect/induced Permanent Jobs are
expected to be created in the County, of which seventy-three (73) are projected to be within the
Village, as a result of the development of the Project. Table 4B shown below, and Exhibits 1
and 3 of Appendix B summarize the direct and indirect Permanent Job impacts of the Project.
TABLE 4B
PERMANENT JOBS AND WAGES
(ALL NUMBERS SUBJECT TO ROUNDING)

Permanent Job Impact

Direct

Indirect

Induced

Total

Employees
Within Village

104

65

177

Countywide

104

69

182

Within Village

$9.66

$2.90

$0.36

$12.92

Countywide

$9.66

$3.07

$0.40

$13.12

Employee Wages ($ Millions)

Overall, the creation of new Permanent Jobs will provide many benefits to the Village. More
Permanent Jobs will lead to more consumer spending by employees in existing retail
establishments within the Village, as well as new retail development that will be attracted to the
Village as a result of this spending. Permanent Job creation also results in increased tax revenues
to the Village and the County through increased franchise fees and gross receipts taxes related to
this new development.
Because of the difference in the timing of the Project phases, the number of Permanent Jobs (and
associated wage impacts) summarized above will not be realized at the same time. Additionally,
while it is estimated that each building will take up to 24 months to construct (with some
construction timing overlap between buildings) and that the build-out of the Project will occur
over 10 years, the build-out period is subject to vary and may differ from the construction
schedule assumed in our Study (see Table 1A).
Fiscal & Economic Impact Study
Facebook Data Center Village of Los Lunas

December 2016
Page 30

C.

OVERALL PERMANENT JOB OUTPUT

Total Permanent Job output (i.e., total expenditures including sales or gross receipts, or other
operating income) within the Village and the County will increase with development. Total
Permanent Job output is estimated based on the different types of development projected to
occur. As stated in Section 1, this Study analyzes direct and indirect/induced impacts.
Regarding gross receipts, the direct impact reflects the initial or first-round increases in output
(total spending/gross receipts, including payroll), all of which occur directly on the Project site.
Permanent Job indirect/induced economic impacts are the secondary and other additional rounds
of economic activity that occur as a consequence of the direct output impacts, and can occur
outside of the Project. The indirect impacts represent the economic activity buying and selling
of goods and services of suppliers and/or supporting businesses. The induced impacts
represent the economic activity that results from household spending by employees of all
companies directly and indirectly affected by the Project (see Table 1B for a graphical
representation of the indirect and induced effects). Table 4C shown below and Exhibit 2 of
Appendix B summarize the Total Permanent Job output projections anticipated.
Based on IMPLAN multipliers and other assumptions utilized in the economic impact model,
DTA estimates that the Permanent Job Output direct and indirect/induced impacts total about
$29.62 million for the County, of which $28.69 million is attributable to the Village.
TABLE 4C
PERMANENT JOB TOTAL OUTPUT
(ALL NUMBERS SUBJECT TO ROUNDING)

Permanent Job Impacts

Direct Indirect Induced

Total

Overall Output ($ Millions)

Within Village

$22.44

$5.41

$0.85 $28.69

Countywide

$22.44

$6.25

$0.93 $29.62

Again, because of the difference in the timing of the Project phases, please note that the
Economic Output impacts summarized above will not be realized at the same time.

II.

ONE-TIME CONSTRUCTION JOBS, WAGES, AND OUTPUT IMPACTS

According to our IMPLAN-based analysis, development of the Project is expected to create
4,125 on-site construction-related full-time equivalent (FTE) jobs within the Village. Over the
build-out period of approximately 10 years, the construction of the Project is expected to create
approximately 5,409 Total (Direct and Indirect/Induced) FTE One-time Jobs in the Village and
5,478 in the County (including those jobs that are in the Village). Construction and development
costs related to these One-time Construction Jobs will also have multiplier effects on the
economy, generating one-time increases in output and wages related to One-time Construction
Jobs for data center buildings; public infrastructure and PNM infrastructure improvements; and
all other related site improvements.

Fiscal & Economic Impact Study

Facebook Data Center Village of Los Lunas

December 2016
Page 31

Table 4D and Table 4E below and Exhibit 5 of Appendix B summarize the projected increases
in employment, wages, and output that are generated directly from One-time Construction Jobs
of the Project land uses, based on DTA wage and construction cost assumptions.
TABLE 4D
ONE-TIME CONSTRUCTION JOB INCREASES IN EMPLOYMENT AND WAGES
(ALL NUMBERS SUBJECT TO ROUNDING)

One-Time Construction Job Impacts

Employees
Within Village
Countywide
Employee Wages ($ Millions)
Within Village
Countywide

Direct

Indirect

Induced

Total

4,125
4,125

727
784

557
568

5,409
5,478

$161.53
$161.53

$32.31
$34.86

$24.77
$25.25

$218.60
$221.65

TABLE 4E
ONE-TIME CONSTRUCTION JOB TOTAL OUTPUT
(ALL NUMBERS SUBJECT TO ROUNDING)

One-Time Construction Job Impacts Direct Indirect Induced Total

Overall Output ($ Billions)
Within Village

$1.48

$0.17

$0.16 $1.81

Countywide

$1.48

$0.21

$0.16 $1.85

As mentioned, the build-out period is subject to vary and may differ from the construction
schedule assumed in our Study. Additionally, not all Phases may be realized, i.e., fewer than six
buildings may ultimately be constructed. The following section presents the results of our
sensitivity analyses for economic impacts associated with this type of scenario.

III.

SENSITIVITY ANALYSES (VARYING NUMBER OF BUILDINGS AT BUILD-OUT)

In addition to analyzing economic impacts for the base case scenario (i.e., completion of
Phases 1, 2, and 3, with six buildings at build-out), DTA conducted the following sensitivity
analyses:

Sensitivity Analysis 1: Phases 1 and 2 Only (four buildings at build-out)

Sensitivity Analysis 2: Phase 1 Only (two buildings at build-out)

Only even numbers of buildings were considered in our sensitivity analyses because the structure
to be built in each phase consists of an H formation linking two buildings. The results of the
base-case and two sensitivity analyses are summarized in Tables 4F through 4N below. Note:
Our sensitivity analyses assume that certain impacts (Output, Construction employees, and
Construction Wages) are distributed evenly over each of the three potential Phases. Based on
Fiscal & Economic Impact Study
Facebook Data Center Village of Los Lunas

December 2016
Page 32

information obtained from Facebook, we assume minimal increases in on-site permanent data
center employees beyond Phase 1, and thus, minimal changes in recurring job impacts among the
different scenarios.
A.

BASE-CASE: PHASES 1, 2, AND 3

1.

ONE-TIME CONSTRUCTION JOBS, WAGES, AND ECONOMIC OUTPUT

TABLE 4F
(ALL NUMBERS SUBJECT TO ROUNDING)

One-Time
Impacts

Direct
(On-Site)

Jobs
Within Village
4,125
Countywide
4,125
Wages ($ Millions)
Within Village
$161.53
Countywide
$161.53
Economic Output ($ Billions)
Within Village
$1.48
Countywide
$1.48

2.

Total
(Incl. Indirect
& Induced)
5,409
5,478
$218.60
$221.65
$1.81
$1.85

PERMANENT JOBS, WAGES, AND ECONOMIC OUTPUT

TABLE 4G
(ALL NUMBERS SUBJECT TO ROUNDING)

Recurring
Impacts

Direct
(On-Site)

Jobs
Within Village
104
Countywide
104
Wages ($ Millions)
Within Village
$9.66
Countywide
$9.66
Economic Output ($ Millions)
Within Village
$22.44
Countywide
$22.44

Fiscal & Economic Impact Study

Facebook Data Center Village of Los Lunas

Total
(Incl.
Indirect &
Induced)
177
182
$12.92
$13.12
$28.69
$29.62

December 2016
Page 33

3.

TOTAL JOBS, WAGES, AND ECONOMIC OUTPUT (ONE-TIME + RECURRING)

TABLE 4H
(ALL NUMBERS SUBJECT TO ROUNDING)

Total
Impacts

Total
(Incl.
Indirect &
Induced)

Direct
(On-Site)

Jobs
Within Village
4,229
Countywide
4,229
Wages ($ Millions)
Within Village
$171.19
Countywide
$171.19
Economic Output ($ Billions)
Within Village
$1.50
Countywide
$1.50

5,587
5,660
$231.52
$234.77
$1.84
$1.88

B.

SENSITIVITY ANALYSIS 1: PHASES 1 AND 2 ONLY

1.

ONE-TIME CONSTRUCTION JOBS, WAGES, AND ECONOMIC OUTPUT

TABLE 4I
SENSITIVITY ANALYSIS 1: PHASES 1 AND 2 ONLY (FOUR BUILDINGS AT BUILD-OUT)
(ALL NUMBERS SUBJECT TO ROUNDING)

One-Time
Impacts

Direct
(On-Site)

Jobs
Within Village
2,567
Countywide
2,567
Wages ($ Millions)
Within Village
$100.51
Countywide
$100.51
Economic Output ($ Billions)
Within Village
$0.98
Countywide
$0.98

Fiscal & Economic Impact Study

Facebook Data Center Village of Los Lunas

Total
(Incl. Indirect
& Induced)
3,377
3,420
$136.54
$138.43
$1.21
$1.24

December 2016
Page 34

2.

PERMANENT JOBS, WAGES, AND ECONOMIC OUTPUT

TABLE 4J
SENSITIVITY ANALYSIS 1: PHASES 1 AND 2 ONLY (FOUR BUILDINGS AT BUILD-OUT)
(ALL NUMBERS SUBJECT TO ROUNDING)

Recurring
Impacts

Direct
(On-Site)

Total
(Incl.
Indirect &
Induced)

Jobs
Within Village
102
Countywide
102
Wages ($ Millions)
Within Village
$9.47
Countywide
$9.47
Economic Output ($ Millions)
Within Village
$14.67
Countywide
$14.67

3.

174
179
$12.67
$12.87
$18.76
$19.36

TOTAL JOBS, WAGES, AND ECONOMIC OUTPUT (ONE-TIME + RECURRING)

TABLE 4K
SENSITIVITY ANALYSIS 1: PHASES 1 AND 2 ONLY (FOUR BUILDINGS AT BUILD-OUT)
(ALL NUMBERS SUBJECT TO ROUNDING)

Total
Impacts

Direct
(On-Site)

Jobs
Within Village
2,669
Countywide
2,669
Wages ($ Millions)
Within Village
$109.98
Countywide
$109.98
Economic Output ($ Billions)
Within Village
$1.00
Countywide
$1.00

Fiscal & Economic Impact Study

Facebook Data Center Village of Los Lunas

Total
(Incl.
Indirect &
Induced)
3,507
3,553
$149.21
$151.30
$1.23
$1.26

December 2016
Page 35

C.

SENSITIVITY ANALYSIS 2: PHASE 1 ONLY

1.

ONE-TIME CONSTRUCTION JOBS, WAGES, AND ECONOMIC OUTPUT

TABLE 4L
SENSITIVITY ANALYSIS 2: PHASE 1 ONLY (TWO BUILDINGS AT BUILD-OUT)
(ALL NUMBERS SUBJECT TO ROUNDING)

One-Time
Impacts

Direct
(On-Site)

Jobs
Within Village
1,192
Countywide
1,192
Wages ($ Millions)
Within Village
$46.67
Countywide
$46.67
Economic Output ($ Millions)
Within Village
$492.28
Countywide
$492.28

2.

Total
(Incl. Indirect
& Induced)
1,574
1,594
$63.67
$64.55
$604.10
$618.11

PERMANENT JOBS, WAGES, AND ECONOMIC OUTPUT

TABLE 4M
SENSITIVITY ANALYSIS 2: PHASE 1 ONLY (TWO BUILDINGS AT BUILD-OUT)
(ALL NUMBERS SUBJECT TO ROUNDING)

Recurring
Impacts

Direct
(On-Site)

Jobs
Within Village
100
Countywide
100
Wages ($ Millions)
Within Village
$9.29
Countywide
$9.29
Economic Output ($ Millions)
Within Village
$7.19
Countywide
$7.19

Fiscal & Economic Impact Study

Facebook Data Center Village of Los Lunas

Total
(Incl.
Indirect &
Induced)
171
175
$12.42
$12.62
$9.20
$9.49

December 2016
Page 36

3.

TOTAL JOBS, WAGES, AND ECONOMIC OUTPUT (ONE-TIME + RECURRING)

TABLE 4N
SENSITIVITY ANALYSIS 2: PHASE 1 ONLY (TWO BUILDINGS AT BUILD-OUT)
(ALL NUMBERS SUBJECT TO ROUNDING)

Total
Impacts

Direct
(On-Site)

Jobs
Within Village
1,292
Countywide
1,292
Wages ($ Millions)
Within Village
$55.95
Countywide
$55.95
Economic Output ($ Millions)
Within Village
$499.47
Countywide
$499.47

Fiscal & Economic Impact Study

Facebook Data Center Village of Los Lunas

Total
(Incl.
Indirect &
Induced)
1,734
1,758
$76.10
$77.17
$613.29
$627.60

December 2016
Page 37

APPENDIX A
FISCAL IMPACT MODEL

Fiscal & Economic Impact Study

Facebook Data Center Village of Los Lunas

December 2016
Page 38

LOS LUNAS
PROJECT ANTELOPE
FISCAL IMPACT ANALYSIS

CONTENTS
EXHIBIT 1: FISCAL IMPACT SUMMARY
EXHIBIT 2: PROJECT SUMMARY AND CONSTRUCTION SCHEDULE
EXHIBIT 3: VILLAGE DEMOGRAPHICS
EXHIBIT 4: PROJECT DEMOGRAPHICS
EXHIBIT 5: PAYMENT IN LIEU OF TAXES (PILOT)
EXHIBIT 6: GROSS RECEIPTS TAX (GRT)
EXHIBIT 7: ELECTRICITY FRANCHISE FEES
EXHIBIT 8: INVESTMENT INCOME
EXHIBIT 9: GENERAL GOVERNMENT EXPENDITURES
EXHIBIT 10: MULTIPLIER REVENUES
EXHIBIT 11: MULTIPLIER EXPENDITURES
EXHIBIT 12: GENERAL FUND REVENUE SUMMARY
EXHIBIT 13: GENERAL FUND EXPENDITURE SUMMARY

EXHIBIT 1
LOS LUNAS
PROJECT ANTELOPE
FISCAL IMPACT SUMMARY
RECURRING GENERAL FUND REVENUES1

TOTAL

YEAR 1

YEAR 2

YEAR 3

YEAR 4

YEAR 5

YEAR 6

YEAR 7

YEAR 8

YEAR 9

YEAR 10

PROPERTY TAX

12.2%

$2,670,000

$50,000

$110,000

$110,000

$180,000

$260,000

$260,000

$350,000

$450,000

$450,000

$450,000

FRANCHISE FEES - ELECTRICAL

29.2%

$6,416,778

$0

$0

$251,638

$377,458

$503,277

$754,915

$880,734

$1,006,553

$1,258,192

$1,384,011

$2,642

$0

$0

$180

$269

$359

$363

$364

$366

$370

$372

$12,556,112

$0

$0

$576,012

$864,018

$1,152,025

$1,534,200

$1,725,288

$1,916,376

$2,298,552

$2,489,640

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$86,848

$0

$0

$5,900

$8,850

$11,800

$11,918

$11,977

$12,036

$12,154

$12,213

$63,664

$0

$0

$4,325

$6,488

$8,650

$8,737

$8,780

$8,823

$8,910

$8,953

$170,659

$8,279

$15,436

$9,910

$22,035

$23,488

$14,285

$22,342

$23,492

$18,053

$13,339

$58,279

$125,436

$957,965

$1,459,118

$1,959,598

$2,584,418

$2,999,486

$3,417,647

$4,046,230

$4,358,527

FRANCHISE FEES - OTHER

GROSS RECEIPTS TAX

57.2%

AUTO TAXES
LICENSES AND PERMITS
FINES
INTEREST REVENUES

TOTAL RECURRING GENERAL FUND REVENUES

RECURRING GENERAL FUND EXPENDITURES2

GENERAL GOVERNMENT

98.5%

$21,966,703

TOTAL

YEAR 1

YEAR 2

YEAR 3

YEAR 4

YEAR 5

YEAR 6

YEAR 7

YEAR 8

YEAR 9

YEAR 10

$16,944

$0

$0

$1,151

$1,727

$2,302

$2,325

$2,337

$2,348

$2,371

$2,383

$5,825

$0

$0

$396

$594

$792

$799

$803

$807

$815

$819

PUBLIC WORKS

$24,961

$0

$0

$1,696

$2,544

$3,392

$3,425

$3,442

$3,459

$3,493

$3,510

DEVELOPMENT SERVICES

$18,117

$0

$0

$1,231

$1,846

$2,462

$2,486

$2,498

$2,511

$2,535

$2,548

$125,024

$0

$0

$8,494

$12,740

$16,987

$17,157

$17,242

$17,327

$17,497

$17,582

$58,048

$0

$0

$3,944

$5,915

$7,887

$7,966

$8,005

$8,045

$8,124

$8,163

$248,920

$0

$0

$16,910

$25,365

$33,821

$34,159

$34,328

$34,497

$34,835

$35,004

MUNICIPAL COURT EXPENDITURES

PUBLIC SAFETY
CULTURE AND RECREATION

TOTAL RECURRING GENERAL FUND EXPENDITURES

NET FISCAL IMPACT

TOTAL ANNUAL RECURRING GENERAL FUND SURPLUS/(DEFICIT)

TOTAL

$21,717,783

YEAR 1

$58,279

YEAR 2

$125,436

YEAR 3

$941,055

YEAR 4

$1,433,752

YEAR 5

$1,925,778

YEAR 6

$2,550,259

YEAR 7

$2,965,158

YEAR 8

$3,383,150

YEAR 9

$4,011,395

YEAR 10

$4,323,523

NOTES:
1

Please see Exhibits 5-7, 8, 10 for the derivation of these calculations.

Please see Exhibits 9, 11 for the derivation of these calculations.

*All figures subject to rounding

DRAFT - UNAUDITED

1/4/2017 9:47 AM

EXHIBIT 2A
LOS LUNAS
PROJECT ANTELOPE
PROJECT SUMMARY

PROPOSED PLAN

DEVELOPED
PHASE/BUILDING

ACRES1

BSF1

ESTIMATED

ESTIMATED

TOTAL

TAXABLE

NON-TAXABLE

CONSTRUCTION

CONSTRUCTION

ESTIMATED

COST / BSF1

COST / BSF

VALUE

PHASE 1
BUILDING 1

25

489,000

$250,000,000

$250,000,000

BUILDING 2

25

489,000

$250,000,000

$250,000,000

BUILDING 3

25

489,000

$250,000,000

$250,000,000

BUILDING 4

25

489,000

$250,000,000

$250,000,000

BUILDING 5

25

489,000

$250,000,000

$250,000,000

BUILDING 6

25

489,000

$250,000,000

$250,000,000

2,934,000

$1,500,000,000

$1,500,000,000

PHASE 2

PHASE 3

TOTAL

150

NOTES
1

Source: Project Antelope, inclusive of GRT.

*All figures subject to rounding

DRAFT - UNAUDITED

1/4/2017 9:47 AM

EXHIBIT 2B
LOS LUNAS
PROJECT ANTELOPE
CONSTRUCTION SCHEDULE

PROPOSED PLAN
BUILDING SQUARE FOOTAGE

PHASE/BUILDING

TOTAL

YEAR 1

YEAR 2

YEAR 3

YEAR 4

YEAR 5

YEAR 6

YEAR 7

YEAR 8

YEAR 9

YEAR 10

PHASE 1
BUILDING 1

489,000

BUILDING 2

489,000

244,500

244,500
122,250

244,500

122,250

PHASE 2
BUILDING 3

489,000

BUILDING 4

489,000

244,500

244,500
122,250

244,500

122,250

PHASE 3
BUILDING 5

489,000

BUILDING 6

489,000

244,500

244,500
122,250

244,500

122,250

ANNUAL TOTAL

244,500

366,750

244,500

366,750

366,750

244,500

366,750

366,750

244,500

122,250

CUMULATIVE TOTAL

244,500

611,250

855,750

1,222,500

1,589,250

1,833,750

2,200,500

2,567,250

2,811,750

2,934,000

DRAFT - UNAUDITED

1/4/2017 9:47 AM

EXHIBIT 3
LOS LUNAS
PROJECT ANTELOPE
VILLAGE DEMOGRAPHICS

POPULATION, HOUSEHOLDS, AND EMPLOYMENT (2016)

POPULATION1

15,924

EMPLOYMENT2
TOTAL PERSONS SERVED

6,646
3

HOUSEHOLDS1
AVERAGE HOUSEHOLD SIZE

19,247
5,810
2.7

NOTES
1

Source: Nielsen Pop-Facts Demographics: "Pop-Facts Summary." Report generated August 29, 2016.

Source: Nielsen Business-Facts Summary: "Business Summary (Occupation)." Report generated August 29, 2016.

Assumes Village population plus 50% of employees.

DRAFT - UNAUDITED

1/4/2017 9:47 AM

EXHIBIT 4
LOS LUNAS
PROJECT ANTELOPE
PROJECT DEMOGRAPHICS

PROPOSED PLAN
SF
LAND USE TYPE

BSF

PER

DIRECT

EMPLOYEE

EMPLOYEES

NON-RESIDENTIAL
PHASE 1
BUILDING 1

489,000

9,780

50

BUILDING 2

489,000

9,780

50

BUILDING 3

489,000

489,000

BUILDING 4

489,000

489,000

BUILDING 5

489,000

489,000

BUILDING 6

489,000

489,000

PHASE 2

PHASE 3

NON-RESIDENTIAL SUBTOTAL
RESIDENTIAL SUBTOTAL
PERSONS SERVED

104
0
52

NOTES
1

Source: Project Antelope.

*All figures subject to rounding

DRAFT - UNAUDITED

1/4/2017 9:47 AM

EXHIBIT 5
LOS LUNAS
PROJECT ANTELOPE
PAYMENT IN LIEU OF TAXES (CASE STUDY)

PAYMENT IN LIEU OF TAXES SUMMARY

YEAR 1

YEAR 2

YEAR 3

YEAR 4

YEAR 5

YEAR 6

YEAR 7

YEAR 8

YEAR 9

YEAR 10

PILOT REVENUES
BUILDING 1

$50,000

$50,000

$50,000

$50,000

$50,000

$50,000

$50,000

$50,000

$50,000

$50,000

BUILDING 2

$0

$60,000

$60,000

$60,000

$60,000

$60,000

$60,000

$60,000

$60,000

$60,000

BUILDING 3

$0

$0

$0

$70,000

$70,000

$70,000

$70,000

$70,000

$70,000

$70,000

BUILDING 4

$0

$0

$0

$0

$80,000

$80,000

$80,000

$80,000

$80,000

$80,000

BUILDING 5

$0

$0

$0

$0

$0

$0

$90,000

$90,000

$90,000

$90,000

BUILDING 6

$0

$0

$0

$0

$0

$0

$0

$100,000

$100,000

$100,000

ANNUAL REVENUES

$50,000

$110,000

$110,000

$180,000

$260,000

$260,000

$350,000

$450,000

$450,000

$450,000

CUMULATIVE REVENUES

$50,000

$160,000

$270,000

$450,000

$710,000

$970,000

$1,320,000

$1,770,000

$2,220,000

$2,670,000

DRAFT - UNAUDITED

1/4/2017 9:47 AM

EXHIBIT 6
LOS LUNAS
PROJECT ANTELOPE
ESTIMATED GROSS RECEIPTS TAXES (CASE STUDY)

GRT SUMMARY
GRT

TOTAL

YEAR 1

YEAR 2

YEAR 3

YEAR 4

YEAR 5

YEAR 6

YEAR 7

YEAR 8

YEAR 9

YEAR 10

RECURRING
UTILITY

$9,745,482

$0

$0

$382,176

$573,264

$764,352

$1,146,527

$1,337,615

$1,528,703

$1,910,879

$2,101,967

VENDORS

$2,810,630

$0

$0

$193,837

$290,755

$387,673

$387,673

$387,673

$387,673

$387,673

$387,673

$25,611,794

$1,823,323

$3,576,064

$1,823,323

$3,576,064

$3,576,064

$1,823,323

$3,576,064

$3,576,064

$1,823,323

$438,185

$2,380,923

$222,949

$222,949

$0

$960,502

$960,502

$0

$7,011

$7,011

$0

$0

TOTAL ANNUAL GRT

$2,046,271

$3,799,012

$2,399,335

$5,400,584

$5,688,590

$3,357,523

$5,308,363

$5,499,451

$4,121,875

$2,927,825

CUMULATIVE GRT

$2,046,271

$5,845,284

$8,244,619

$13,645,203

$19,333,793

$22,691,316

$27,999,679

$33,499,130

$37,621,004

$40,548,829

NON-RECURRING
DATA CENTER CONSTRUCTION
INFRASTRUCTURE CONSTRUCTION

TOTAL RECURRING GRT REVENUES

$12,556,112

$0

$0

$576,012

$864,018

$1,152,025

$1,534,200

$1,725,288

$1,916,376

$2,298,552

$2,489,640

TOTAL NON-RECURRING GRT REVENUES

$27,992,718

$2,046,271

$3,799,012

$1,823,323

$4,536,566

$4,536,566

$1,823,323

$3,583,075

$3,583,075

$1,823,323

$438,185

DRAFT - UNAUDITED

1/4/2017 9:47 AM

EXHIBIT 6
LOS LUNAS
PROJECT ANTELOPE
ESTIMATED GROSS RECEIPTS TAXES (CASE STUDY)

UTILITIES
GRT/TAXABLE RECEIPTS

TOTAL

YEAR 1

YEAR 2

YEAR 3

YEAR 4

YEAR 5

YEAR 6

YEAR 7

YEAR 8

YEAR 9

YEAR 10

ESTIMATED ANNUAL GRT

GROSS

$9,745,482

$0

$0

$382,176

$573,264

$764,352

$1,146,527

$1,337,615

$1,528,703

$1,910,879

$2,101,967

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$9,745,482

$0

$0

$382,176

$573,264

$764,352

$1,146,527

$1,337,615

$1,528,703

$1,910,879

$2,101,967

BUILDING 1

$0

$0

$12,581,918

$12,581,918

$12,581,918

$12,581,918

$12,581,918

$12,581,918

$12,581,918

$12,581,918

BUILDING 2

$0

$0

$0

$6,290,959

$12,581,918

$12,581,918

$12,581,918

$12,581,918

$12,581,918

$12,581,918

BUILDING 3

$0

$0

$0

$0

$0

$12,581,918

$12,581,918

$12,581,918

$12,581,918

$12,581,918

BUILDING 4

$0

$0

$0

$0

$0

$0

$6,290,959

$12,581,918

$12,581,918

$12,581,918

BUILDING 5

$0

$0

$0

$0

$0

$0

$0

$0

$12,581,918

$12,581,918

BUILDING 6

$0

$0

$0

$0

$0

$0

$0

$0

$0

$6,290,959

$0

$0

$12,581,918

$18,872,877

$25,163,836

$37,745,754

$44,036,713

$50,327,672

$62,909,590

$69,200,549

$12,581,918

$12,581,918

$12,581,918

$12,581,918

$12,581,918

$12,581,918

$12,581,918

$12,581,918

$12,581,918

$12,581,918

268,844,400

268,844,400

268,844,400

268,844,400

268,844,400

268,844,400

268,844,400

268,844,400

268,844,400

268,844,400

SOLAR

$0.0475

$0.0475

$0.0475

$0.0475

$0.0475

$0.0475

$0.0475

$0.0475

$0.0475

$0.0475

WIND

$0.0461

$0.0461

$0.0461

$0.0461

$0.0461

$0.0461

$0.0461

$0.0461

$0.0461

$0.0461

$0.0025

$0.0025

$0.0025

$0.0025

$0.0025

$0.0025

$0.0025

$0.0025

$0.0025

$0.0025

LEDA
NET

ESTIMATED ANNUAL ELECTRIC BILLINGS

PHASE 1

PHASE 2

PHASE 3

TOTAL

POWER USE ASSUMPTIONS

ESTIMATED ANNUAL ELECTRIC BILL / BUILDING
1

ESTIMATED ANNUAL POWER USE (KWh) / BUILDING

ESTIMATED RATE / KWh
RENEWABLE

NON-RENEWABLE

DRAFT - UNAUDITED

1/4/2017 9:47 AM

EXHIBIT 6
LOS LUNAS
PROJECT ANTELOPE
ESTIMATED GROSS RECEIPTS TAXES (CASE STUDY)

VENDORS
GRT/TAXABLE RECEIPTS

TOTAL

YEAR 1

YEAR 2

YEAR 3

YEAR 4

YEAR 5

YEAR 6

YEAR 7

YEAR 8

YEAR 9

YEAR 10

ESTIMATED ANNUAL GRT

GROSS

$2,810,630

$0

$0

$193,837

$290,755

$387,673

$387,673

$387,673

$387,673

$387,673

$387,673

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$2,810,630

$0

$0

$193,837

$290,755

$387,673

$387,673

$387,673

$387,673

$387,673

$387,673

BUILDING 1

$0

$0

$6,381,450

$6,381,450

$6,381,450

$6,381,450

$6,381,450

$6,381,450

$6,381,450

$6,381,450

BUILDING 2

$0

$0

$0

$3,190,725

$6,381,450

$6,381,450

$6,381,450

$6,381,450

$6,381,450

$6,381,450

BUILDING 3

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

BUILDING 4

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

BUILDING 5

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

BUILDING 6

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$6,381,450

$9,572,175

$12,762,900

$12,762,900

$12,762,900

$12,762,900

$12,762,900

$12,762,900

$8,000,000

$8,000,000

$8,000,000

$8,000,000

$8,000,000

$8,000,000

$8,000,000

$8,000,000

$8,000,000

$8,000,000

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

LEDA
NET
ESTIMATED ANNUAL VENDOR BILLINGS (NET OF GRT)
PHASE 1

PHASE 2

PHASE 3

TOTAL

ESTIMATED GROSS ANNUAL VENDOR BILLINGS / BUILDING

GROSS VENDOR BILLINGS
BUILDINGS 1 + 2
BUILDING 3 - 6

IN-STATE VENDOR BILLINGS

BUILDINGS 1 + 2

87%

$6,960,000

$6,960,000

$6,960,000

$6,960,000

$6,960,000

$6,960,000

$6,960,000

$6,960,000

$6,960,000

$6,960,000

BUILDING 3 - 6

87%

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

DRAFT - UNAUDITED

1/4/2017 9:47 AM

EXHIBIT 6
LOS LUNAS
PROJECT ANTELOPE
ESTIMATED GROSS RECEIPTS TAXES (CASE STUDY)

CONSTRUCTION
GRT/TAXABLE RECEIPTS

TOTAL

YEAR 1

YEAR 2

YEAR 3

YEAR 4

YEAR 5

YEAR 6

YEAR 7

YEAR 8

YEAR 9

YEAR 10

$42,065,782

$3,505,482

$5,258,223

$3,505,482

$5,258,223

$5,258,223

$3,505,482

$5,258,223

$5,258,223

$3,505,482

$1,752,741

LEDA

($16,453,988)

($1,682,159)

($1,682,159)

($1,682,159)

($1,682,159)

($1,682,159)

($1,682,159)

($1,682,159)

($1,682,159)

($1,682,159)

($1,314,556)

NET

$25,611,794

$1,823,323

$3,576,064

$1,823,323

$3,576,064

$3,576,064

$1,823,323

$3,576,064

$3,576,064

$1,823,323

$438,185

BUILDING 1

$230,813,618

$115,406,809

$115,406,809

$0

$0

$0

$0

$0

$0

$0

$0

BUILDING 2

$230,813,618

$0

$57,703,405

$115,406,809

$57,703,405

$0

$0

$0

$0

$0

$0

BUILDING 3

$230,813,618

$0

$0

$0

$115,406,809

$115,406,809

$0

$0

$0

$0

$0

BUILDING 4

$230,813,618

$0

$0

$0

$0

$57,703,405

$115,406,809

$57,703,405

$0

$0

$0

BUILDING 5

$230,813,618

$0

$0

$0

$0

$0

$0

$115,406,809

$115,406,809

$0

$0

BUILDING 6

$230,813,618

$0

$0

$0

$0

$0

$0

$0

$57,703,405

$115,406,809

$57,703,405

$1,384,881,708

$115,406,809

$173,110,214

$115,406,809

$173,110,214

$173,110,214

$115,406,809

$173,110,214

$173,110,214

$115,406,809

$57,703,405

CONSTRUCTION COSTS / BUILDING

$250,000,000

$250,000,000

$250,000,000

$250,000,000

$250,000,000

$250,000,000

$250,000,000

$250,000,000

$250,000,000

$250,000,000

CONSTRUCTION COSTS / BUILDING NET OF GRT

$230,813,618

$230,813,618

$230,813,618

$230,813,618

$230,813,618

$230,813,618

$230,813,618

$230,813,618

$230,813,618

$230,813,618

$2,380,923

$222,949

$222,949

$0

$960,502

$960,502

$0

$7,011

$7,011

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$2,380,923

$222,949

$222,949

$0

$960,502

$960,502

$0

$7,011

$7,011

$0

$0

ESTIMATED ANNUAL DATA CENTER CONSTRUCTION GRT

GROSS

ESTIMATED ANNUAL DATA CENTER CONSTRUCTION EXPENDITURES

DATA CENTER
PHASE 1

PHASE 2

PHASE 3

TOTAL

DATA CENTER CONSTRUCTION ASSUMPTIONS

DATA CENTER

ESTIMATED ANNUAL INFRASTRUCTURE CONSTRUCTION EXPENDITURES

ESTIMATED ANNUAL GRT

GROSS
LEDA
NET

DRAFT - UNAUDITED

1/4/2017 9:47 AM

EXHIBIT 6
LOS LUNAS
PROJECT ANTELOPE
ESTIMATED GROSS RECEIPTS TAXES (CASE STUDY)

ESTIMATED ANNUAL DATA CENTER CONSTRUCTION EXPENDITURES

PUBLIC INFRASTRUCTURE

$2,769,763

$1,384,882

$1,384,882

$0

$0

$0

$0

$0

$0

$0

$0

PHASE 1 RELATED

$11,909,983

$5,954,991

$5,954,991

$0

$0

$0

$0

$0

$0

$0

$0

POST PHASE 1

$63,242,931

$0

$0

$0

$31,621,466

$31,621,466

$0

$0

$0

$0

$0

POST PHASE 2

$461,627

$0

$0

$0

$0

$0

$0

$230,814

$230,814

$0

$0

POST PHASE 3

$0

$7,339,873

$7,339,873

$0

$31,621,466

$31,621,466

$0

$230,814

$230,814

$0

$0

PNM INFRASTRUCTURE

TOTAL

$78,384,305

GROSS RECEIPT TAX RATES

TOTAL STATE, COUNTY, CITY GRT

8.3125%

TOTAL CITY GRT

3.0375%

MUNICIPAL GRT

1.0000%

SPECIAL MUNICIPAL GRT

0.2500%

MUNICIPAL LOCAL OPTION GRT

0.2500%

ENVIRONMENTAL MUNICIPAL GRT

0.0625%

INFRASTRUCTURE MUNICIPAL GRT (BONDS & INFRASTRUCTURE PROJECTS)

0.1250%

INFRASTRUCTURE MUNICIPAL GRT (SPECIAL OBLIGATIONS BONDS)

0.1250%

STATE SHARED

1.2250%

LEDA
RECURRING GRT

0.0000%

ONE-TIME GRT

75.0000%

ANNUAL CAP AS % OF GENERAL FUND EXPENDITURES

10.0000%

NOTES
1

Confirmation pending.

* All figures subject to rounding

DRAFT - UNAUDITED

1/4/2017 9:47 AM

EXHIBIT 7
LOS LUNAS
PROJECT ANTELOPE
ESTIMATED ELECTRIC FRANCHISE FEES (CASE STUDY)

FRANCHISE FEE SUMMARY

TAXABLE RECEIPTS

YEAR 1

YEAR 2

YEAR 3

YEAR 4

YEAR 5

YEAR 6

YEAR 7

YEAR 8

YEAR 9

YEAR 10

ELECTRIC

$0

$0

$251,638

$377,458

$503,277

$754,915

$880,734

$1,006,553

$1,258,192

$1,384,011

TOTAL ANNUAL FRANCHISE FEES

$0

$0

$251,638

$377,458

$503,277

$754,915

$880,734

$1,006,553

$1,258,192

$1,384,011

CUMULATIVE FRANCHISE FEES

$0

$0

$251,638

$629,096

$1,132,373

$1,887,288

$2,768,022

$3,774,575

$5,032,767

$6,416,778

UTILITIES
TAXABLE RECEIPTS

ESTIMATED ANNUAL FRANCHISE FEES

YEAR 1

YEAR 2

YEAR 3

YEAR 4

YEAR 5

YEAR 6

YEAR 7

YEAR 8

YEAR 9

YEAR 10

$0

$0

$251,638

$377,458

$503,277

$754,915

$880,734

$1,006,553

$1,258,192

$1,384,011

BUILDING 1

$0

$0

$12,581,918

$12,581,918

$12,581,918

$12,581,918

$12,581,918

$12,581,918

$12,581,918

$12,581,918

BUILDING 2

$0

$0

$0

$6,290,959

$12,581,918

$12,581,918

$12,581,918

$12,581,918

$12,581,918

$12,581,918

BUILDING 3

$0

$0

$0

$0

$0

$12,581,918

$12,581,918

$12,581,918

$12,581,918

$12,581,918

BUILDING 4

$0

$0

$0

$0

$0

$0

$6,290,959

$12,581,918

$12,581,918

$12,581,918

BUILDING 5

$0

$0

$0

$0

$0

$0

$0

$0

$12,581,918

$12,581,918

BUILDING 6

$0

$0

$0

$0

$0

$0

$0

$0

$0

$6,290,959

$0

$0

$12,581,918

$18,872,877

$25,163,836

$37,745,754

$44,036,713

$50,327,672

$62,909,590

$69,200,549

ESTIMATED ANNUAL ELECTRIC BILLINGS

PHASE 1

PHASE 2

PHASE 3

TOTAL

DRAFT - UNAUDITED

1/4/2017 9:47 AM

EXHIBIT 7
LOS LUNAS
PROJECT ANTELOPE
ESTIMATED ELECTRIC FRANCHISE FEES (CASE STUDY)

POWER USE ASSUMPTIONS

ESTIMATED ANNUAL ELECTRIC BILL / BUILDING

$12,581,918

$12,581,918

$12,581,918

$12,581,918

$12,581,918

$12,581,918

$12,581,918

$12,581,918

$12,581,918

$12,581,918

ESTIMATED ANNUAL POWER USE (KWh) / BUILDING1

268,844,400

268,844,400

268,844,400

268,844,400

268,844,400

268,844,400

268,844,400

268,844,400

268,844,400

268,844,400

SOLAR

$0.0475

$0.0475

$0.0475

$0.0475

$0.0475

$0.0475

$0.0475

$0.0475

$0.0475

$0.0475

WIND

$0.0461

$0.0461

$0.0461

$0.0461

$0.0461

$0.0461

$0.0461

$0.0461

$0.0461

$0.0461

$0.0025

$0.0025

$0.0025

$0.0025

$0.0025

$0.0025

$0.0025

$0.0025

$0.0025

$0.0025

ESTIMATED RATE / KWh

RENEWABLE

NON-RENEWABLE

FRANCHISE FEES
ELECTRICITY

2.0000%

GAS
TELEPHONE
CABLE VISION
NOTES
1

Confirmation pending.

* All figures subject to rounding

DRAFT - UNAUDITED

1/4/2017 9:47 AM

EXHIBIT 8
LOS LUNAS
PROJECT ANTELOPE
ESTIMATED INVESTMENT INCOME (CASE STUDY)

INVESTMENT INCOME CALCULATION

YEAR 1

INVESTMENT INCOME (LESS EARNINGS COST)

TOTAL ESTIMATED RECURRING GF REVENUES AVAILABLE FOR INVESTMENT

YEAR 3

YEAR 4

YEAR 5

YEAR 6

YEAR 7

YEAR 8

YEAR 9

YEAR 10

$8,279

$15,436

$9,910

$22,035

$23,488

$14,285

$22,342

$23,492

$18,053

$13,339

$2,097,053

$3,909,794

$2,510,117

$5,581,366

$5,949,372

$3,618,305

$5,659,145

$5,950,233

$4,572,657

$3,378,607

$50,000

$110,000

$110,000

$180,000

$260,000

$260,000

$350,000

$450,000

$450,000

$450,000

$2,046,271

$3,799,012

$2,399,335

$5,400,584

$5,688,590

$3,357,523

$5,308,363

$5,499,451

$4,121,875

$2,927,825

$782

$782

$782

$782

$782

$782

$782

$782

$782

$782

TOTAL PILOT REVENUES (EXHIBIT 5)

TOTAL GROSS RECEIPTS TAX REVENUES (EXHIBIT 6)

YEAR 2

TOTAL MULTIPLIER REVENUES (EXHIBIT 10)

INVESTMENT INCOME ASSUMPTIONS

INVESTMENT PERIOD FOR RECURRING NON-INTEREST GENERAL FUND REVENUES

LOCAL GOVERNMENT INVESTMENT POOL ("LGIP") APPROXIMATE RATE OF RETURN

LGIP PARTICIPATION COSTS

12 Months
0.395%
0.05%

NOTES
1

Based on historic daily rates available at New Mexico State Treasurer's Office ("STO") website.

STO charges a fixed rate fee which is assessed at the end of each month. The fee is 5 basis points.

* All figures subject to rounding

DRAFT - UNAUDITED

1/4/2017 9:47 AM

EXHIBIT 9
LOS LUNAS
PROJECT ANTELOPE
ESTIMATED GENERAL GOVERNMENT EXPENDITURES (CASE STUDY)

GENERAL GOVERNMENT EXPENDITURES CALCULATION

PROPOSED
PLAN
ESTIMATED RECURRING GENERAL GOVERNMENT OVERHEAD EXPENDITURES1

$0

$2,394

GENERAL GOVERNMENT ASSUMPTIONS

TOTAL RECURRING CITY GENERAL FUND EXPENDITURES (EXCLUDING GENERAL GOVERNMENT OVERHEAD)2

$12,132,604

TOTAL RECURRING CITY GENERAL GOVERNMENT OVERHEAD

$886,170

TOTAL RECURRING GENERAL FUND EXPENDITURES

$13,018,774

RECURRING CITY GENERAL GOVERNMENT OVERHEAD ( % OF TOTAL RECURRING GENERAL FUND EXPENDITURES)3

7.30%

MARGINAL INCREASE IN GENERAL GOVERNMENT COSTS

100%

NOTES
1

Based on total recurring project general fund expenditures (excluding general government overhead) from Exhibit 11.

Based on City of San Marcos Operating Budget, Fiscal Year 2015-2016.

General Government Overhead Expenditures defined as costs for City Council, Administration, Housing and Neighborhood Services, City Attorney, City Clerk, Human Resources/
Risk Management, Finance/Information Systems, and Real Property Services.

*All figures subject to rounding

DRAFT - UNAUDITED

1/4/2017 9:47 AM

EXHIBIT 10
LOS LUNAS
PROJECT ANTELOPE
ESTIMATED MULTIPLIER BASED GENERAL FUND REVENUES

MULTIPLIER BASED GENERAL FUND REVENUE SUMMARY

PROPOSED
REVENUE CATEGORY

PLAN

FRANCHISE FEES - OTHER

$373

AUTO TAXES

$0

LICENSES AND PERMITS

$236

FINES

$173

TOTAL ESTIMATED MULTIPLIER REVENUES

$782

MULTIPLIER BASED REVENUE ASSUMPTIONS

REVENUE CATEGORY

MULTIPLIER

BASIS

PROPERTY TAX

#N/A

CASE STUDY

FRANCHISE FEES - ELECTRICAL

#N/A

CASE STUDY

FRANCHISE FEES - OTHER

GROSS RECEIPTS TAX

$7.18 PERSONS SERVED

#N/A

CASE STUDY

AUTO TAXES

$8.68

PER CAPITA

LICENSES AND PERMITS

$4.53 PERSONS SERVED

FINES

$3.33 PERSONS SERVED

INTEREST REVENUES

#N/A

CASE STUDY

NOTES
1

Based on Village of Los Lunas Municipal Budget, Fiscal Year 2016-2017.

*All figures subject to rounding

DRAFT - UNAUDITED

1/4/2017 9:47 AM

EXHIBIT 11
LOS LUNAS
PROJECT ANTELOPE
ESTIMATED MULTIPLIER BASED GENERAL FUND EXPENDITURES

MULTIPLIER BASED GENERAL FUND EXPENDITURE SUMMARY

PROPOSED
EXPENDITURE CATEGORY

PLAN

MUNICIPAL COURT

$823

PUBLIC WORKS

$3,527

DEVELOPMENT SERVICES

$2,560

PUBLIC SAFETY

$17,666

CULTURE AND RECREATION

$8,202

TOTAL MULTIPLIER EXPENDITURES

$32,778

MULTIPLIER BASED EXPENDITURE ASSUMPTIONS

EXPENDITURE CATEGORY
GENERAL GOVERNMENT

MULTIPLIER1
#N/A

BASIS
CASE STUDY

MUNICIPAL COURT

$15.83 PERSONS SERVED

PUBLIC WORKS

$67.83 PERSONS SERVED

DEVELOPMENT SERVICES

$49.23 PERSONS SERVED

PUBLIC SAFETY

$339.74 PERSONS SERVED

CULTURE AND RECREATION

$157.74 PERSONS SERVED

NOTES
1

Based on Village of Los Lunas Municipal Budget, Fiscal Year 2016-2017.

*All figures subject to rounding

DRAFT - UNAUDITED

1/4/2017 9:47 AM

EXHIBIT 12
LOS LUNAS
FY 2016-17 GENERAL FUND REVENUE SUMMARY

REVENUE CATEGORY

BUDGETED

REVENUE

PROJECTION

REVENUES

TYPE

METHOD

DISCOUNT1

MULTIPLIER

REVENUES INCLUDED IN FISCAL IMPACT ANALYSIS

PROPERTY TAX

$2,449,122

RECURRING

CASE STUDY

NA

NA

FRANCHISE FEES - ELECTRICAL

$286,644

RECURRING

CASE STUDY

NA

NA

FRANCHISE FEES - OTHER

$138,183

RECURRING

PERSONS SERVED

0%

$7.18

$9,981,487

RECURRING

CASE STUDY

NA

NA

$138,285

RECURRING

PER CAPITA

0%

$8.68

LICENSES AND PERMITS

$87,137

RECURRING

PERSONS SERVED

0%

$4.53

FINES

$64,100

RECURRING

PERSONS SERVED

0%

$3.33

$4,300

RECURRING

CASE STUDY

NA

NA

GROSS RECEIPTS TAX

2

AUTO TAXES

INTEREST REVENUES

TOTAL INCLUDED GENERAL FUND REVENUES

$13,149,258

$23.72

CHARGES FOR SERVICES3

DEDUCTED FROM GENERAL GOV'T: MISCELLANEOUS

$150,377

NA

NA

NA

NA

DEDUCTED FROM GENERAL GOV'T: SOLID WASTE + WATER/SEWER BOOKKEEPING

$862,020

NA

NA

NA

NA

DEDUCTED FROM PUBLIC WORKS

$148,000

NA

NA

NA

NA

DEDUCTED FROM PUBLIC SAFETY: POLICE

$44,200

NA

NA

NA

NA

DEDUCTED FROM CULTURE AND RECREATION

$38,400

NA

NA

NA

NA

$10,000

NON-RECURRING

NA

NA

NA

LEGISLATIVE APPROPRIATION

$2,450,000

FUNDS CAPITAL PROJECTS

NA

NA

NA

OTHER FINANCING SOURCES

$143,150

NON-RECURRING/FUNDS CAPITAL PROJECTS

NA

NA

NA

INTERGOVERNMENTAL REVENUES

$140,290

NON-RECURRING/FUNDS CAPITAL PROJECTS

NA

NA

NA

PARK IMPACT FEES

$102,000

NON-RECURRING OPERATIONAL IMPACT FEE

NA

NA

NA

TOTAL CHARGES FOR SERVICES

$1,242,997

REVENUES EXCLUDED FROM FISCAL IMPACT ANALYSIS

MISCELLANEOUS REVENUES

TOTAL EXCLUDED GENERAL FUND REVENUES

$2,845,440

TOTAL GENERAL FUND REVENUES

$17,237,695

TOTAL RECURRING GENERAL FUND REVENUES

$10,275,309

NOTES
1

Certain revenues may not be be expected to increase one-to-one with the new development.

Classified under "State Shared Taxes".

All Charges for Services are deducted from expenditures on GF Expend tab.

Interest income is modeled on a case study basis on Exhibit 8.

*All figures subject to rounding

DRAFT - UNAUDITED

1/4/2017 9:47 AM

EXHIBIT 13
LOS LUNAS
FY 2016-17 GENERAL FUND EXPENDITURE SUMMARY

CHARGES FOR
REVENUE CATEGORY

TOTAL

SERVICES

EXPENDITURE

EXPENDITURES

ADJUSTMENT

TYPE

PROJECTION
METHOD1

DISCOUNT2

MULTIPLIER

EXPENDITURES INCLUDED IN FISCAL IMPACT ANALYSIS

GENERAL GOVERNMENT
ADMINISTRATION
TOTAL GENERAL GOVERNMENT EXPENDITURES

$1,898,567

($1,012,397)

$1,898,567

($1,012,397)

RECURRING

$886,170

CASE STUDY

NA

CASE STUDY

NA

$0.00

MUNICIPAL COURT EXPENDITURES

MUNICIPAL COURT

$304,705

$0

$304,705

$0

TOTAL MUNICIPAL COURT EXPENDITURES

RECURRING

$304,705

PERSONS SERVED

0%

PERSONS SERVED

$15.83

$15.83

PUBLIC WORKS
STREETS DIVISION

$960,400

($97,799)

RECURRING

PERSONS SERVED

0%

$44.82

FLEET MAINTENANCE DIVISION

$492,987

($50,201)

RECURRING

PERSONS SERVED

0%

$23.01

$1,453,387

($148,000)

TOTAL PUBLIC WORKS

$1,305,387

PERSONS SERVED

$67.83

DEVELOPMENT SERVICES
COMMUNITY DEVELOPMENT

$947,520

$0

TOTAL DEVELOPMENT SERVICES

$947,520

$0

RECURRING

$947,520

PERSONS SERVED

0%

PERSONS SERVED

$49.23

$49.23

PUBLIC SAFETY
FIRE DEPARTMENT

$1,737,858

($11,668)

RECURRING

PERSONS SERVED

0%

$89.69

PERSONNEL SERVICES

$271,385

($1,822)

RECURRING

PERSONS SERVED

0%

$14.01

OPERATING SERVICES

$278,795

($1,872)

RECURRING

PERSONS SERVED

0%

$14.39

NA

NA

NA

PERSONS SERVED

0%

$0.00

LAW ENFORCEMENT

$4,295,006

($28,838)

RECURRING

PERSONS SERVED

0%

$221.65

TOTAL PUBLIC SAFETY

$6,583,044

($44,200)

NEW FIRE STATION

CAPITAL OUTLAY

$6,538,844

PERSONS SERVED

$339.74

CULTURE AND RECREATION

COMMUNITY SERVICES - PARKS
LIBRARY DEPARTMENT
TOTAL CULTURE AND RECREATION

$2,295,487

($28,670)

RECURRING

PERSONS SERVED

0%

$117.77

$779,061

($9,730)

RECURRING

PERSONS SERVED

0%

$39.97

$3,074,548

($38,400)
$3,036,148

TOTAL GENERAL FUND EXPENDITURES

$14,261,771

PERSONS SERVED

$157.74

$13,018,774

EXPENDITURES EXCLUDED FROM FISCAL IMPACT ANALYSIS

ADMINISTRATION CAPITAL OUTLAY

$2,000,000

COMMUNITY SERVICES PARKS CAPITAL OUTLAY

$1,110,000

TOTAL EXCLUDED GENERAL FUND EXPENDITURES

$3,110,000

TOTAL GENERAL FUND EXPENDITURES

$17,371,771

TOTAL GENERAL FUND EXPENDITURES LESS NEW FIRE STATION

$16,821,591

NOTES
1

Persons Served method assumes Village population plus 50% of employees.

Certain expenditures may not be expected to increase one-to-one with the new development.

*All figures subject to rounding

DRAFT - UNAUDITED

1/4/2017 9:47 AM

APPENDIX B
ECONOMIC IMPACT MODEL

Fiscal & Economic Impact Study

Facebook Data Center Village of Los Lunas

December 2016
Page 39

VILLAGE OF LOS LUNAS, NEW MEXICO - PROJECT ANTELOPE

ECONOMIC IMPACT ANALYSIS

CONTENTS
EXHIBIT 1:
EXHIBIT 2:
EXHIBIT 3:
EXHIBIT 4:
EXHIBIT 5:
EXHIBIT 6:
EXHIBIT 7:
EXHIBIT 8:
EXHIBIT 9:

DEMOGRAPHICS
GROSS RECEIPTS TAX (GRT) RATES
GRT SUMMARY
MULTIPLIER SUMMARY
JOBS
TOTAL OUTPUT
WAGES
ONE-TIME IMPACTS
SUMMARY

EXHIBIT 1
VILLAGE OF LOS LUNAS, NEW MEXICO - PROJECT ANTELOPE
LAND USE AND DEMOGRAPHICS SUMMARY
FUTURE LAND USE DATA
PROJECT ANTELOPE DEVELOPABLE LAND USE DESCRIPTION
BSF1

NON-RESIDENTIAL LAND USES

DATA CENTER

NUMBER OF BUILDINGS

2,934,000

RESIDENTIAL LAND USES

SQ. FT. PER BUILDING

489,000

BSF

NA

NA

DEMOGRAPHIC DATA
DEMOGRAPHICS
PERSONS/HOUSEHOLD2

RESIDENTIAL LAND USE POPULATION

PERSONS PER HOUSEHOLD (SFD/SFA)

2.71

PERSONS PER HOUSEHOLD (MF)

2.71
JOBS/1,000 BSF3

BSF/EMPLOYEE3

DATA CENTER OPERATIONS - COMPANY

0.0143149

69,857

DATA CENTER OPERATIONS - 3RD PARTY CONTRACTORS

0.0211316

47,323

UNITS

POPULATION

LAND USE CATEGORY

BSF

DIRECT EMPLOYEES4

INDUSTRIAL

2,934,000

104

NON-RESIDENTIAL LAND USE EMPLOYEE GENERATION

POPULATION AND EMPLOYEES (CALCULATIONS)

RESIDENTIAL LAND USES
NA

NON-RESIDENTIAL LAND USES

DATA CENTER

POPULATION AND EMPLOYEES (TOTALS)

TOTAL PROJECTED RESIDENTIAL POPULATION
TOTAL PROJECTED DIRECT EMPLOYEES4
TOTAL PERSONS SERVED POPULATION

0
104
52

NOTES:
1
2
3
4

Source: Project Antelope. Each "H" structure (comprising 2 buildings) is estimated to be approximately 978,000 square feet, with up to 3 "H" structures, or 6 buildings, in total at build-out. Estimated square footage per building is 978,000/2 = 489,000.
Source: Nielsen "Pop-Facts Demographic Snapshot," Los Lunas village, NM (3543370): 2016 Est. Average Household Size. Report generated August 29, 2016.
Source: Project Antelope.
Source: Project Antelope (see Demographics tab in Fiscal Impact Analysis). 3rd party contractors working on-site at the data center are considered "direct" employees in this analysis.

* All figures subject to rounding

EXHIBIT 2
VILLAGE OF LOS LUNAS, NEW MEXICO - PROJECT ANTELOPE
GROSS RECEIPTS TAX ("GRT") RATES
GROSS RECEIPTS TAX RATE ASSUMPTIONS
GROSS RECEIPTS TAX ("GRT") RATES
VILLAGE OF LOS LUNAS

LOCAL OPTION TAX

MUNICIPAL GROSS RECEIPTS TAX

1.00000%

SPECIAL MUNICIPAL GROSS RECEIPTS TAX

0.25000%

MUNICIPAL LOCAL OPTION GROSS RECEIPTS TAX

0.25000%

ENVIRONMENTAL MUNICIPAL GROSS RECEIPTS TAX

0.06250%

INFRASTRUCTURE MUNICIPAL GROSS RECEIPTS TAX [BONDS & INFRASTRUCTURE PROJECTS]

0.12500%

INFRASTRUCTURE MUNICIPAL GROSS RECEIPTS TAX [SPECIAL OBLIGATIONS BONDS]

0.12500%

STATE SHARED TAX RETURNED TO THE VILLAGE OF LOS LUNAS

1.22500%

Total Gross Receipts Tax Received by the Village of Los Lunas

3.0375%

GRT IMPOSED BY VALENCIA COUNTY AFFECTING THE VILLAGE OF LOS LUNAS

1.3750%

GRT IMPOSED BY THE STATE OF NEW MEXICO (NET STATE SHARE 1.225 RETURNED TO VILLAGE)

3.9000%

GROSS RECEIPTS TAX RATE FOR THE VILLAGE OF LOS LUNAS

8.3125%
COUNTY OF VALENCIA2

THIRD 1/8 PERCENT TAX - COUNTY GROSS RECEIPTS TAX (SEC. 32.020 - 32.024)3
COUNTY REGIONAL TRANSIT GROSS RECEIPTS TAX (SEC. 32.025 - 32.029)

0.1250%

COUNTY ENVIRONMENTAL SERVICES GROSS RECEIPTS TAX (SEC. 32.035 - 32.039)

HEALTH CARE GROSS RECEIPTS TAX (SEC. 32.050 - 32.054)
FIRE PROTECTION EXCISE TAX (SEC. 32.071 - 32.076)

0.1250%

4
5

0.1250%

0.0625%

0.2500%

COUNTY CORRECTIONAL FACILITY GROSS RECEIPTS TAX (SEC. 32.090 - 32.094)

0.1250%

COUNTYWIDE EMERGENCY COMMUNICATIONS AND EMERGENCY MEDICAL AND BEHAVIORAL HEALTH SERVICES TAX (SEC. 32.100 - 32.104)
HOLD HARMLESS GROSS RECEIPTS TAX (SEC. 32.120 - 32.124)

10

0.2500%
0.3750%

11

OTHER - COUNTY GRT

0.3125%

SUBTOTAL COUNTY GRT

1.7500%

LESS: COUNTY GRT NOT AFFECTING THE VILLAGE OF LOS LUNAS

COUNTY ENVIRONMENTAL SERVICES GROSS RECEIPTS TAX12

-0.1250%

12

-0.2500%

FIRE PROTECTION EXCISE TAX

GRT IMPOSED BY VALENCIA COUNTY AFFECTING THE VILLAGE OF LOS LUNAS

1.3750%
STATE - GENERAL FUND

GENERAL FUND

3.90000%

SUBTOTAL STATE GRT

3.9000%
GRAND TOTAL GRT

GRAND TOTAL GRT

8.3125%

EXHIBIT 2
VILLAGE OF LOS LUNAS, NEW MEXICO - PROJECT ANTELOPE
GROSS RECEIPTS TAX ("GRT") RATES

NOTES:
1
2
3
4
5
6
7
8

10
11
12

Source: Village of Los Lunas website. [Link]

All references herein are to the Valencia County Code, Title III, Chapter 32.
70% dedicated to Valencia County Sheriff's Dept.; 15% dedicated to Valencia County Road Dept. for road equipment; 15% dedicated to Valencia County Volunteer Fire and Rescue Depts.
Rio Metro Regional Transit District
Used solely for the construction, operation, and maintenance of solid waste facilities, water facilities, waste water facilities, sewer systems and related facilities.

County Medicaid Fund.

Used for the purpose of financing the operational expenses, capital outlay and ambulance services of independent fire districts within Valencia County.
Used for the purposes listed below:
(A) For the purpose of operating, maintaining, constructing, purchasing, furnishing, equipping, rehabilitating, expanding or improving a judicial-correctional or county correction facility or other grounds
of a judicial-correctional or county correctional facility, including acquiring and improving parking lots, landscaping or any combination of the foregoing;
(B) For the purpose of transporting or extraditing prisoners; or
(C) To payment of principal and interest on revenue bonds or refunding bonds issued pursuant to the provisions of the County Correctional Facility Gross Receipts Tax Act.
60% dedicated to the operation of an emergency communications center that has been determined by the Local Government Division of the Department of Finance and Administration to be a
consolidated public safety answering point; 40% dedicated to the operation of emergency medical services provided by the county.
Used for all statutorily permitted uses.
Based on enactment table as of 7/1/16: NM Taxation and Revenue Department.
Source: New Mexico Taxation and Revenue Department, "FYI-C120: County Gross Receipts Tax Local Options," Revised June 2016. The County Environmental Services GRT and the Fire Protection Excise Tax are "imposed only on persons engaging in
business in the county area outside the boundaries of any incorporated municipality."
All figures subject to rounding

EXHIBIT 3
VILLAGE OF LOS LUNAS, NEW MEXICO - PROJECT ANTELOPE
GRT SUMMARY
FUTURE LAND USE DATA
PROJECT ANTELOPE DEVELOPABLE LAND USE DESCRIPTION

NON-RESIDENTIAL LAND USES

DATA CENTER

BSF
2,934,000

CONSTRUCTION COST DATA

3

INFRASTRUCTURE IMPROVEMENTS
PUBLIC INFRASTRUCTURE4
5
PNM ELECTRICAL INFRASTRUCTURE IMPROVEMENTS
TOTAL
PERCENTAGE TO BE SPENT WITHIN COUNTY (ESTIMATED)
TOTAL, COUNTY
VERTICAL CONSTRUCTION COSTS (ASSUME 6 BUILDINGS AT BUILD-OUT)
BUILDING MATERIALS
CONSTRUCTION SERVICES/LABOR
TOTAL
PERCENTAGE TO BE SPENT WITHIN COUNTY (ESTIMATED)
TOTAL, COUNTY

ESTIMATED COST, INCLUSIVE OF GRT

$3,000,000
$96,600,000
$99,600,000
100%
$99,600,000

GRT (@ 3.0375%)
$84,132
$2,709,036
$2,793,168

$525,000,000
$975,000,000
$1,500,000,000
100%
$1,500,000,000

$14,723,024
$27,342,758
$42,065,782
$42,065,782

$484,708,598
$900,173,110
$1,384,881,708
100%
$1,384,881,708

$1,599,600,000

$44,858,950

$1,476,837,853

$2,793,168

ESTIMATED COST, NET OF GRT

$2,769,763
$89,186,382
$91,956,145
100%
$91,956,145

TOTAL CONSTRUCTION COSTS SPENT IN COUNTY

RECURRING COST DATA6

RECURRING COSTS
UTILITIES
VENDORS
TOTAL
PERCENTAGE TO BE SPENT WITHIN COUNTY (ESTIMATED)
TOTAL, COUNTY

ESTIMATED COST, INCLUSIVE OF GRT3

$330,584,396
$95,341,659
$425,926,054
100%
$425,926,054

GRT (@ 3.0375%)
$9,745,482
$2,810,630
$12,556,112
$12,556,112

ESTIMATED COST, NET OF GRT

$320,838,914
$92,531,029
$413,369,942
100%
$413,369,942

EXHIBIT 3
VILLAGE OF LOS LUNAS, NEW MEXICO - PROJECT ANTELOPE
GRT SUMMARY
GRT CALCULATIONS
GRT RATE

VILLAGE OF LOS LUNAS

COUNTY OF VALENCIA (AFFECTING THE VILLAGE OF LOS LUNAS)

3.0375%
1.3750%
TOTAL ONE-TIME CONSTRUCTION GRT

VILLAGE OF LOS LUNAS

COUNTY OF VALENCIA

$44,858,950
$20,306,520
TOTAL RECURRING GRT

VILLAGE OF LOS LUNAS

COUNTY OF VALENCIA

$12,556,112
$5,683,837
TOTAL GRT (ONE-TIME + RECURRING)

VILLAGE OF LOS LUNAS

COUNTY OF VALENCIA

$57,415,062
$25,990,357

NOTES:
1
2

Please see Exhibit 1: Demographics.

Source: Project Antelope. Infrastructure improvement cost estimate of $3M includes water, sewer, pond, and road improvements; electrical improvement cost estimate was provided separately.

This study assumes that the cost estimates provided by Project Antelope are inclusive of GRT. Therefore, we use the formula TC = C(1+r), where "TC" is Total Cost; "C" is Cost; and "r" is the GRT rate of 3.0375%.

Water improvements will include the construction of approximately 9,000 linear feet of 12-inch water main, 29 fire hydrant assemblies, 9 gate valves with restraints, and boxes and concrete collars.
Sewer improvements will include the construction of 2,300 linear feet of 6-inch sewer main, and 10 manholes that are 4 feet in diameter.
A pond is needed to buffer effluent flows into a smaller, maximum flow rate that the Village system can accept. This improvement will include a lined pond (2+ acres), a single outlet drain with overflow drain (4-inch), an unknown length of pipe to connect the pond outlet
to the sanitary sewer main, and a discharge meter on the pond outlet.

According to Project Antelope, electrical improvements will include interconnection and buildout of the transmission infrastructure, tapping into the existing infrastructure and adding new capacity for the site. This approach will allow the project to be served at
transmission voltage (100 kV or higher).

Source: Project Antelope. Refer to the Fiscal Impact Analysis, GRT tab, for recurring taxable receipts.

Please see Exhibit 2: GRT.

Non-recurring, over entire Project Antelope buildout period.

All figures subject to rounding

EXHIBIT 4
VILLAGE OF LOS LUNAS, NEW MEXICO - PROJECT ANTELOPE
MULTIPLIER SUMMARY

INDIRECT - VILLAGE

INDUCED - VILLAGE

DIRECT - COUNTY

INDIRECT - COUNTY

INDUCED - COUNTY

1.00

0.12

0.11

1.00

0.15

0.11

7.59

1.44

1.05

7.59

1.54

1.07

OUTPUT

1.00

0.24

0.04

1.00

0.28

0.04

EMPLOYMENT

4.64

2.91

0.37

4.64

3.08

0.40

DIRECT - VILLAGE
DATA CENTER CONSTRUCTION

OUTPUT
EMPLOYMENT
DATA CENTER OPERATIONS - COMPANY

DATA CENTER OPERATIONS - 3RD PARTY CONTRACTORS

OUTPUT

1.00

0.24

0.04

1.00

0.28

0.04

EMPLOYMENT

4.64

2.91

0.37

4.64

3.08

0.40

0.11

0.10

1.00

0.15

0.10

1.32

0.93

6.91

1.47

0.97

PUBLIC INFRASTRUCTURE IMPROVEMENTS

OUTPUT

1.00

EMPLOYMENT

6.91

PNM ELECTRICAL INFRASTRUCTURE IMPROVEMENTS

OUTPUT

1.00

0.09

0.12

1.00

0.12

0.12

EMPLOYMENT

9.03

1.10

1.12

9.03

1.22

1.15

NOTES:
1

Multiplier used is Industry Code 58: Construction of other new nonresidential structures.

Multiplier used is Industry Code 430: Data processing, hosting, and related services.

Multiplier used is Industry Code 430: Data processing, hosting, and related services.

Multiplier used is an average of the following -- Industry Code 56: Construction of new highways and streets, and Industry Code 58: Construction of other new nonresidential structures.

Multiplier used is Industry Code 54: Construction of new power and communication structures.

EXHIBIT 5
VILLAGE OF LOS LUNAS, NEW MEXICO - PROJECT ANTELOPE
JOB CREATION - FULL-TIME EQUIVALENT POSITIONS
ASSUMPTIONS
NON-RESIDENTIAL LAND USE ASSUMPTIONS
LAND USE
DATA CENTER
BSF PER EMPLOYEE2
DATA CENTER

LAND USE CATEGORY

BSF1

INDUSTRIAL

2,934,000

LAND USE CATEGORY

BSF/EMPLOYEE

INDUSTRIAL

28,212

JOB CREATION CALCULATION - FULL-TIME EQUIVALENT POSITIONS

VILLAGE
DIRECT EMPLOYEES3

INDIRECT EMPLOYEES4

INDUCED EMPLOYEES5

TOTAL EMPLOYEES

3,300

626

455

4,380

DATA CENTER OPERATIONS - COMPANY

42

26

72

DATA CENTER OPERATIONS - 3RD PARTY CONTRACTORS

62

39

106

PUBLIC INFRASTRUCTURE IMPROVEMENTS

19

25

806

98

100

1,004

4,229

792

465

5,487

DIRECT EMPLOYEES3

INDIRECT EMPLOYEES4

INDUCED EMPLOYEES5

TOTAL EMPLOYEES

3,300

671

463

4,435

DATA CENTER OPERATIONS - COMPANY

42

28

74

DATA CENTER OPERATIONS - 3RD PARTY CONTRACTORS

62

41

109

PUBLIC INFRASTRUCTURE IMPROVEMENTS

19

26

806

109

102

1,017

4,229

853

475

5,557

LAND USE
DATA CENTER CONSTRUCTION

PNM ELECTRICAL INFRASTRUCTURE IMPROVEMENTS

TOTAL, VILLAGE

COUNTY
LAND USE
DATA CENTER CONSTRUCTION

PNM ELECTRICAL INFRASTRUCTURE IMPROVEMENTS

TOTAL, COUNTY

NOTES:
1
2
3
4

Source: Project Antelope

Source: Project Antelope
Source: Project Antelope. 3rd party contractors working on-site at the data center are considered "direct" employees in this analysis.
Source: Valencia County IMPLAN multipliers.

All figures subject to rounding

1/4/2017 9:27 AM

Los Lunas Economic Impact [Link]

EXHIBIT 6
VILLAGE OF LOS LUNAS, NEW MEXICO - PROJECT ANTELOPE
TOTAL OUTPUT
TOTAL OUTPUT CALCULATION
VILLAGE
TOTAL
DATA CENTER CONSTRUCTION

SQUARE FOOTAGE1

DIRECT OUTPUT2

INDIRECT OUTPUT3

INDUCED OUTPUT4

TOTAL OUTPUT

2,934,000

$1,384,881,708

$162,947,331

$150,034,416

$1,697,863,456

DATA CENTER OPERATIONS - COMPANY

NA

$9,060,799

$2,183,300

$343,252

$11,587,352

DATA CENTER OPERATIONS - 3RD PARTY CONTRACTORS

NA

$13,375,466

$3,222,967

$506,706

$17,105,138

PUBLIC INFRASTRUCTURE IMPROVEMENTS

NA

$2,769,763

$253,162

$322,008

$3,344,933

PNM ELECTRICAL INFRASTRUCTURE IMPROVEMENTS

NA

$89,186,382

$10,823,065

$11,074,258

$111,083,705

$1,499,274,119

$179,429,826

$162,280,639

$1,840,984,584

SQUARE FOOTAGE1

DIRECT OUTPUT2

INDIRECT OUTPUT3

INDUCED OUTPUT4

TOTAL OUTPUT

2,934,000

$1,384,881,708

$201,008,445

$152,436,237

$1,738,326,390

TOTAL, VILLAGE

2,934,000

COUNTY
TOTAL
DATA CENTER CONSTRUCTION
DATA CENTER OPERATIONS - COMPANY

NA

$9,060,799

$2,522,426

$377,072

$11,960,297

DATA CENTER OPERATIONS - 3RD PARTY CONTRACTORS

NA

$13,375,466

$3,723,581

$556,631

$17,655,677

PUBLIC INFRASTRUCTURE IMPROVEMENTS

NA

$2,769,763

$342,991

$327,808

$3,440,562

PNM ELECTRICAL INFRASTRUCTURE IMPROVEMENTS

NA

$89,186,382

$12,072,742

$11,310,369

$112,569,493

$165,008,117

$1,883,952,420

.
TOTAL, COUNTY

2,934,000

$1,499,274,119

$219,670,184

NOTES:

1/4/2017 9:27 AM

Source: Project Antelope.

Source: Village of Los Lunas (zip code 87031) IMPLAN multipliers and Valencia County IMPLAN multipliers.
For Operations, Direct Output is typically based on direct-effect employment multiplier divided into Direct Jobs (see Exhibit 5: Jobs), i.e., Direct Output metric is based on projected Direct Employment.

Source: Village of Los Lunas (zip code 87031) IMPLAN multipliers and Valencia County IMPLAN multipliers.

Source: Village of Los Lunas (zip code 87031) IMPLAN multipliers and Valencia County IMPLAN multipliers.

All figures subject to rounding

Los Lunas Economic Impact [Link]

EXHIBIT 7
VILLAGE OF LOS LUNAS, NEW MEXICO - PROJECT ANTELOPE
TOTAL ANNUALIZED WAGES FOR FULL-TIME EQUIVALENT POSITIONS
VILLAGE
LAND USE

DIRECT WAGES1

INDIRECT WAGES2

INDUCED WAGES3

TOTAL WAGES
MEAN ANNUAL WAGES

DATA CENTER CONSTRUCTION

$129,228,000

$27,799,245

$20,204,677

$177,231,923

$39,160

DATA CENTER OPERATIONS - COMPANY

$3,899,700

$1,170,644

$147,163

$5,217,507

$92,850

DATA CENTER OPERATIONS - 3RD PARTY CONTRACTORS

$5,756,700

$1,728,094

$217,240

$7,702,034

$92,850

$749,401

$162,075

$115,016

$1,026,492

$39,160

$31,554,197

$4,345,505

$4,446,359

$40,346,061

$39,160

$171,187,998

$35,205,563

$25,130,456

$231,524,017

$44,440

INDUCED WAGES3

TOTAL WAGES

PUBLIC INFRASTRUCTURE IMPROVEMENTS

PNM ELECTRICAL INFRASTRUCTURE IMPROVEMENTS
TOTAL, COUNTY

COUNTYWIDE

COUNTY
LAND USE

DIRECT WAGES1

INDIRECT WAGES2

MEAN ANNUAL WAGES

DATA CENTER CONSTRUCTION

$129,228,000

$29,832,657

$20,593,303

$179,653,961

$39,160

DATA CENTER OPERATIONS - COMPANY

$3,899,700

$1,238,437

$162,177

$5,300,314

$92,850

DATA CENTER OPERATIONS - 3RD PARTY CONTRACTORS

$5,756,700

$1,828,169

$239,404

$7,824,273

$92,850

$749,401

$181,453

$119,029

$1,049,883

$39,160

$31,554,196

$4,847,255

$4,541,159

$40,942,610

$39,160

$171,187,997

$37,927,971

$25,655,072

$234,771,040

$44,440

PUBLIC INFRASTRUCTURE IMPROVEMENTS

PNM ELECTRICAL INFRASTRUCTURE IMPROVEMENTS
TOTAL, COUNTY

COUNTYWIDE

NOTES:
1

Data Center Construction: Based on Direct Employees multiplied by annual salary of $39,160, which reflects the SOC code "47-0000: Construction and Extraction Occupations".
Data Center Operations - Company: Based on Direct Employees multiplied by annual salary of $92,850, which reflects an average of annual mean wages for the following SOC codes: "11-3021: Computer and Information System Managers" and "15-0000: Computer and Mathematical Occupations".
Data Center Operations - 3rd Party Contractors: Based on Direct Employees multiplied by annual salary of $92,850, which reflects an average of annual mean wages for the following SOC codes: "11-3021: Computer and Information System Managers" and "15-0000: Computer and Mathematical Occupations".
Public Infrastructure Improvements: Based on Direct Employees multiplied by annual salary of $39,160, which reflects the SOC code "47-0000: Construction and Extraction Occupations".
PNM Electrical Infrastructure Improvements: Based on Direct Employees multiplied by annual salary of $39,160, which reflects the SOC code "47-0000: Construction and Extraction Occupations".
Source: Bureau of Labor Statistics (BLS) Occupational Employment Statistics (OES) data for Albuquerque, NM Metropolitan Statistical Area (MSA) (May 2015)

Based on indirect employees multiplied by Albuquerque MSA mean annual wage of $44,440.
Source: BLS OES data for Albuquerque MSA (May 2015)

Based on induced employees multiplied by Albuquerque MSA mean annual wage of $44,440.
Source: BLS OES data for Albuquerque MSA (May 2015)

All figures subject to rounding

1/4/2017 9:27 AM

Los Lunas Economic Impact [Link]

EXHIBIT 8
VILLAGE OF LOS LUNAS, NEW MEXICO - PROJECT ANTELOPE
CONSTRUCTION/ONE-TIME IMPACTS
JOB CREATION CALCULATION - FULL-TIME EQUIVALENTS ("FTE")
VILLAGE

LAND USE

DIRECT

INDIRECT

INDUCED

TOTAL CONSTRUCTION

EMPLOYEES

EMPLOYEES

DATA CENTER CONSTRUCTION

PUBLIC INFRASTRUCTURE IMPROVEMENTS
PNM ELECTRICAL INFRASTRUCTURE IMPROVEMENTS
TOTAL

EMPLOYEES

EMPLOYEES

3,300

626

455

4,380

19

25

806

98

100

1,004

4,125

727

557

5,409

DIRECT

INDIRECT

INDUCED

TOTAL CONSTRUCTION

EMPLOYEES

COUNTY

LAND USE
DATA CENTER CONSTRUCTION
PUBLIC INFRASTRUCTURE IMPROVEMENTS
PNM ELECTRICAL INFRASTRUCTURE IMPROVEMENTS
TOTAL

EMPLOYEES

EMPLOYEES

EMPLOYEES

3,300

671

463

4,435

19

26

806

109

102

1,017

4,125

784

568

5,478

NOTES:

Based on direct-effect employment multiplier divided by one-time output (see below). As this is an analysis of just one industry (construction) at one-time, Direct Employment metric is based on Direct Output (except for Data Center Construction direct employment, which is provided by Project Antelope).

Based on indirect-effect employment multiplier multiplied by one-time output (see below). Indirect Employment metric is based on Direct Output. Source: Valencia County IMPLAN multipliers.

Based on induced-effect employment multiplier multiplied by one-time output (see below). Induced Employment metric is based on Direct Output. Source: Valencia County IMPLAN multipliers.

All figures subject to rounding

1/4/2017 9:27 AM

Los Lunas Economic Impact [Link]

EXHIBIT 8
VILLAGE OF LOS LUNAS, NEW MEXICO - PROJECT ANTELOPE
CONSTRUCTION/ONE-TIME IMPACTS

TOTAL WAGE CALCULATION

COUNTY
PROJECT LAND USE
DATA CENTER CONSTRUCTION
PUBLIC INFRASTRUCTURE IMPROVEMENTS
PNM ELECTRICAL INFRASTRUCTURE IMPROVEMENTS
TOTAL

DIRECT WAGES1

INDIRECT WAGES2

INDUCED WAGES3

TOTAL WAGES

$129,228,000

$29,832,657

$20,593,303

$179,653,961

$749,401

$181,453

$119,029

$1,049,883

$31,554,196

$4,847,255

$4,541,159

$40,942,610

$161,531,597

$34,861,366

$25,253,491

$221,646,454

MEAN ANNUAL WAGES

CONSTRUCTION

$39,160

COUNTYWIDE

$44,440

NOTES:
1

Based on Direct Employees multiplied by annual salary of $39,160, which reflects the SOC code "47-0000: Construction and Extraction Occupations".
Source: Bureau of Labor Statistics (BLS) Occupational Employment Statistics (OES) data for Albuquerque, NM Metropolitan Statistical Area (MSA) (May 2015)

Based on indirect employees multiplied by Albuquerque MSA mean annual wage of $44,440.
Source: BLS OES data for Albuquerque, NM MSA (May 2015)

Based on induced employees multiplied by Albuquerque MSA mean annual wage of $44,440.
Source: BLS OES data for Albuquerque, NM MSA (May 2015)

All figures subject to rounding

1/4/2017 9:27 AM

Los Lunas Economic Impact [Link]

EXHIBIT 8
VILLAGE OF LOS LUNAS, NEW MEXICO - PROJECT ANTELOPE
CONSTRUCTION/ONE-TIME IMPACTS

TOTAL OUTPUT CALCULATION

VILLAGE
TOTAL
PROJECT LAND USE
DATA CENTER CONSTRUCTION

SQUARE FOOTAGE1

DIRECT OUTPUT2

INDIRECT OUTPUT3

INDUCED OUTPUT4

TOTAL OUTPUT

2,934,000

$1,384,881,708

$162,947,331

$150,034,416

$1,697,863,456

PUBLIC INFRASTRUCTURE IMPROVEMENTS

NA

$2,769,763

$253,162

$322,008

$3,344,933

PNM ELECTRICAL INFRASTRUCTURE IMPROVEMENTS

NA

$89,186,382

$10,823,065

$11,074,258

$111,083,705

$1,476,837,853

$174,023,559

$161,430,681

$1,812,292,094

TOTAL

2,934,000

COUNTY
TOTAL
PROJECT LAND USE
DATA CENTER CONSTRUCTION

SQUARE FOOTAGE1

DIRECT OUTPUT2

INDIRECT OUTPUT3

INDUCED OUTPUT4

TOTAL OUTPUT

2,934,000

$1,384,881,708

$201,008,445

$152,436,237

$1,738,326,390

PUBLIC INFRASTRUCTURE IMPROVEMENTS

NA

$2,769,763

$342,991

$327,808

$3,440,562

PNM ELECTRICAL INFRASTRUCTURE IMPROVEMENTS

NA

$89,186,382

$12,072,742

$11,310,369

$112,569,493

$1,476,837,853

$213,424,178

$164,074,414

$1,854,336,445

DIRECT - VILLAGE

INDIRECT - VILLAGE

INDUCED - VILLAGE

DIRECT - COUNTY

INDIRECT - COUNTY

INDUCED - COUNTY

OUTPUT

1.00

0.12

0.11

1.00

0.15

0.11

EMPLOYMENT

7.59

1.44

1.05

7.59

1.54

1.07

OUTPUT

1.00

0.11

0.10

1.00

0.15

0.10

EMPLOYMENT

6.91

1.32

0.93

6.91

1.47

0.97

OUTPUT

1.00

0.09

0.12

1.00

0.12

0.12

EMPLOYMENT

9.03

1.10

1.12

9.03

1.22

1.15

TOTAL

2,934,000

NOTES:

Source: Project Antelope

Source: Project Antelope

Indirect Output metric is based on Direct Output Metric. Source: Valencia County IMPLAN multipliers.

Induced Output metric is based on Direct Output Metric. Source: Valencia County IMPLAN multipliers.

All figures subject to rounding

DATA CENTER CONSTRUCTION

PUBLIC INFRASTRUCTURE IMPROVEMENTS

PNM ELECTRICAL INFRASTRUCTURE IMPROVEMENTS

1/4/2017 9:27 AM

Los Lunas Economic Impact [Link]

EXHIBIT 9
VILLAGE OF LOS LUNAS, NEW MEXICO - PROJECT ANTELOPE
SUMMARY
ASSUMPTIONS (IMPLAN)
LAND USE ASSUMPTIONS

BSF

DATA CENTER
EMPLOYMENT/OUTPUT ASSUMPTIONS

2,934,000
TOTAL OUTPUT IN COUNTY (INCLUSIVE OF GRT)

DIRECT EMPLOYEES

(CALCULATED, NOT ASSUMED)

104

$1,500,000,000

3,300

DATA CENTER OPERATIONS - COMPANY

(CALCULATED, NOT ASSUMED)

42

DATA CENTER OPERATIONS - 3RD PARTY CONTRACTORS

(CALCULATED, NOT ASSUMED)

62

$3,000,000

(CALCULATED, NOT ASSUMED)

$96,600,000

(CALCULATED, NOT ASSUMED)

DATA CENTER
DATA CENTER CONSTRUCTION

PUBLIC INFRASTRUCTURE IMPROVEMENTS

PNM ELECTRICAL INFRASTRUCTURE IMPROVEMENTS

BSF PER EMPLOYEE

28,212

PERCENT OF OUTPUT SPENT IN COUNTY (ESTIMATED)

DATA CENTER CONSTRUCTION

100%

DATA CENTER OPERATIONS - COMPANY

100%

DATA CENTER OPERATIONS - 3RD PARTY CONTRACTORS

100%

PUBLIC INFRASTRUCTURE IMPROVEMENTS

100%

PNM ELECTRICAL INFRASTRUCTURE IMPROVEMENTS

100%

CONCLUSIONS (IMPLAN)
RECURRING IMPACTS
JOB CREATION

DIRECT

INDIRECT + INDUCED

TOTAL

VILLAGE

104

73

177

COUNTY

104

78

182

DIRECT

INDIRECT + INDUCED

TOTAL

$9,656,400

$3,468,186

$13,124,586

DIRECT

INDIRECT + INDUCED

TOTAL

VILLAGE

$22,436,265

$6,256,225

$28,692,490

COUNTY

$22,436,265

$7,179,709

$29,615,974

$ AMOUNT

PER BSF

EMPLOYEE WAGES
COUNTY
ECONOMIC OUTPUT

RECURRING GROSS RECEIPTS TAX

1/4/2017 9:27 AM

VILLAGE

$12,556,112

$4.28

COUNTY

$5,683,837

$1.94

Los Lunas Economic Impact [Link]

EXHIBIT 9
VILLAGE OF LOS LUNAS, NEW MEXICO - PROJECT ANTELOPE
SUMMARY
CONSTRUCTION/ONE-TIME IMPACTS
CONSTRUCTION JOBS

DIRECT

INDIRECT + INDUCED

TOTAL

VILLAGE

4,125

1,284

5,409

COUNTY

4,125

1,353

5,478

DIRECT

INDIRECT + INDUCED

TOTAL

$161,531,597

$60,114,857

$221,646,454

DIRECT

INDIRECT + INDUCED

TOTAL

VILLAGE

$1,476,837,853

$335,454,240

$1,812,292,094

COUNTY

$1,476,837,853

$377,498,592

$1,854,336,445

$ AMOUNT

PER BSF

VILLAGE

$44,858,950

$15.29

COUNTY

$20,306,520

$6.92

DIRECT

INDIRECT + INDUCED

TOTAL

VILLAGE

4,229

1,358

5,587

COUNTY

4,229

1,431

5,660

DIRECT

INDIRECT + INDUCED

TOTAL

$171,187,997

$63,583,043

$234,771,040

DIRECT

INDIRECT + INDUCED

TOTAL

VILLAGE

$1,499,274,119

$341,710,465

$1,840,984,584

COUNTY

$1,499,274,119

$384,678,301

$1,883,952,420

$ AMOUNT

PER BSF

VILLAGE

$57,415,062

$19.57

COUNTY

$25,990,357

$8.86

CONSTRUCTION WAGES
COUNTY
CONSTRUCTION OUTPUT

ONE-TIME GROSS RECEIPTS TAX

TOTAL (ONE-TIME + RECURRING) IMPACTS

TOTAL JOBS

TOTAL WAGES
COUNTY
TOTAL ECONOMIC OUTPUT

TOTAL GROSS RECEIPTS TAX

1/4/2017 9:27 AM

Los Lunas Economic Impact [Link]