KANSAS CITY, Mo., March 5, 2026, 04:11 CST
- Nebius Group has moved past a crucial local obstacle for its proposed AI data-center campus in Independence, Missouri, aiming for as much as 1.2 gigawatts of potential capacity.
- Local officials have signed off on a Chapter 100 incentive package, locking in long-term tax abatements along with payments in lieu of taxes.
- NBIS jumped roughly 13% ahead of the opening bell.
Nebius Group N.V. picked up city approval for a Chapter 100 incentive plan connected to its proposed “AI factory” campus in Independence, Missouri. That headline sent the company’s Nasdaq shares climbing roughly 13% ahead of Thursday’s open. TradingView
Access to electricity and permits has turned into a key bottleneck for data-center projects targeting artificial intelligence, so the decision carries new weight. With a gigawatt of power demand, this project would land among the largest U.S. builds designed for AI computing.
Nebius belongs to a new wave of “neocloud” players renting out Nvidia GPUs for AI workloads—a space where giants hold sway, but niche outfits like CoreWeave jostle for room. Headquartered in Amsterdam, Nebius has ramped up spending to secure more chips and expand its footprint, as customers scramble for access. Reuters
The company put the Independence campus footprint at around 400 acres, with the potential to deliver as much as 1.2 gigawatts of power. Construction could generate about 1,200 jobs, while the facility is expected to maintain close to 130 full-time high-tech positions after launch.
Local reports indicate Independence’s council signed off on the package in a 5-2 vote Monday. Chapter 100, the Missouri incentive in question, lets cities issue bonds for industrial development and offer tax breaks—sometimes by taking ownership of a project for tax reasons.
KMBC reported that over 60 people registered to speak over the course of a four-hour hearing. The planned facility covers upwards of 2 million square feet and, according to the station, would need as much electricity as roughly 500,000 homes.
KCUR put the value of the 90% abatement at $6.26 billion spread across two decades, with the breaks linked to property and equipment worth up to $150.6 billion. Nebius, for its part, would contribute about $651.5 million in PILOT payments—those replace property taxes when exemptions kick in. The interim city manager also estimated the city stands to collect around $30 million a year from utility usage tied to the project.
“This is our first project of this scale, but not the last,” said Nebius CEO Arkady Volozh. The company’s vice president for U.S. public affairs, John Sutter, assured residents Nebius aimed to earn trust “not through promises, but through results.” Business Wire
Building trades groups in the area have pushed aggressively for the project, pitching it as both job security and a source of apprenticeships. “It’s a once-in-a-lifetime investment in this area,” said Bo Moreno, business manager for International Brotherhood of Electrical Workers Local 124. KSHB 41 Kansas City News
Power and water issues show no sign of cooling off. According to KSHB, the site’s projected energy use clocks in at roughly 800 megawatts—triple Independence’s own output. Nebius, for its part, has committed to sourcing electricity from a separate facility, financed without tapping into the city’s utility. Missouri Attorney General Catherine Hanaway said the state is monitoring the situation “to see if misrepresentations are being made” about the center’s energy needs. KSHB 41 Kansas City News
Still, the vote doesn’t necessarily close the chapter. Critics are floating a referendum effort, voicing worries over grid capacity, environmental fallout, and whether jobs and payments will really measure up to the hefty tax incentives. Throw in any holdups on permits, construction, funding, or chip deliveries, and the timeline stretches, putting customer appetite to the test.
Nebius Group—until recently known as Yandex N.V.—took on its new name after offloading its Russian operations in 2024, shifting focus to AI infrastructure. Founder Arkady Volozh remains at the helm.
With Missouri’s sign-off, the company keeps pushing to secure more power and locations before demand jumps. Just last month, Nebius unveiled a 240-megawatt data center project near Lille, France—part of its ongoing move to broaden operations on both sides of the Atlantic.
