Multi-billion-dollar investment by Blackstone in Pennsylvania's infrastructure and real estate projects
In a groundbreaking move, global investment firm Blackstone has announced a significant investment of over $25 billion in Pennsylvania's digital and energy infrastructure. This transformative initiative is expected to create thousands of jobs, bolster community engagement, and forge strategic partnerships with local companies.
The investment, aimed at supporting and expanding America's leading position in the AI revolution, will see Blackstone leveraging its expertise in data centers and energy infrastructure. The move is expected to attract an additional $60 billion in investments, positioning Pennsylvania as a key hub for AI development.
Job creation is a key focus of the project. Over 6,000 jobs are projected to be created or supported annually during a roughly 10-year construction period. After construction, more than 3,000 permanent jobs are expected to be created or supported during operations by QTS and its customers. These roles will span a wide range of digital infrastructure and energy projects, providing a strong employment boost in the region.
Blackstone emphasises working in partnership with local communities, government, and labour organisations to ensure the investments align with broader public and economic goals in Pennsylvania. The use of platforms like Pennsylvania's new project management system, PA Fast Track, aims to streamline permitting and accelerate development timelines, helping communities participate actively in the growth process.
QTS, a Blackstone-backed enterprise and the world's largest independent data center operator, is spearheading the digital infrastructure buildout. The company has secured multiple land sites in Northeastern Pennsylvania to develop next-generation data centers. QTS invites other communities to join this expansion through a formal Request for Information to meet growing demand for digital infrastructure from hyperscalers and AI-driven companies.
The partnership with PPL, a Pennsylvania-based utility company, complements the digital infrastructure by focusing on energy. Blackstone and PPL have formed a joint venture to build new natural gas-fired power plants to provide reliable electricity to data centers and the grid, potentially operational by 2030. The venture is actively engaging with landowners, pipeline companies, and turbine manufacturers to enable this energy infrastructure buildout.
This integrated approach of combining cutting-edge data centers with new energy capacity aims to power Pennsylvania as a strategic hub for America's AI and digital economy future. Tag Greason, Co-CEO of QTS, sees substantial demand for high-quality digital infrastructure in Pennsylvania and looks forward to engaging with communities and leaders across the Commonwealth to position QTS's leading data center platform to support Pennsylvania's digital infrastructure needs.
Construction of the infrastructure is expected to start by the end of 2028, pending necessary approvals. The project is projected to create over 6,000 jobs annually during a 10-year construction period. Blackstone is investing behind two themes: digital infrastructure and energy, in Pennsylvania to support and expand America's leading position in AI revolution.
Jon Gray, Blackstone's President and Chief Operating Officer, expresses excitement about the investment in Pennsylvania's digital and energy infrastructure. Nadeem Meghji, Blackstone's Global Co-Head of Real Estate, highlights Blackstone's track record of partnering with governments, local communities, and customers to create win-win-win outcomes, and expresses excitement about advancing the nation's digital infrastructure goals.
Sean Klimczak, Blackstone's Global Head of Infrastructure, believes Pennsylvania is transforming into a strategic hub for AI innovation and is excited to work with PPL to invest in power generation for critical digital infrastructure. Blackstone aims to align its investments with state and local goals, engaging in community outreach and volunteer opportunities.
In summary, Blackstone’s investment significantly boosts job opportunities, fosters community and government collaboration, and leverages strong partnerships with QTS and PPL to catalyse a decade-long digital and energy infrastructure transformation in Pennsylvania, setting the state up as a critical node in America’s AI-driven growth.
- The involvement of QTS, a leading data center operator, in the project indicates a keen interest in sports and technology, as digital infrastructure is key to support AI-driven companies and hyperscalers in Pennsylvania.
- In line with Blackstone's commitment to community outreach,Job creation is a major focus, with the investment expected to generate over 3,000 permanent jobs in a variety of digital infrastructure and energy projects, promoting sports and leisure opportunities for the local workforce.
