- President-elect Donald Trump announced a plan for Emirati billionaire Hussain Sajwani's DAMAC Properties to invest at least 20 billion in building new data centers across the U.S., with the potential for the investment to double.
- The data center initiative aims to support artificial intelligence and digital growth, expected to drive economic activity with a 30 percent annual growth rate in data center occupancy since 2020.
- The project is anticipated to create numerous job opportunities and stimulate economic growth in eight initial focus states, including Texas, Arizona and Ohio.
- Trump proposed fast-tracking environmental approvals for foreign investors contributing over $1 billion to the U.S. economy, as well as hints at imposing tariffs on Mexico and Canada.
- Trump indicated plans for "serious tariffs" on Mexico and Canada and declared no new windmills will be built during his administration, signaling a shift in infrastructure policy.
President-elect Donald Trump has announced a $20 billion foreign investment plan aimed at building new data centers across the U.S. to boost American infrastructure and job creation.
The proposal comes from Hussain Sajwani, an Emirati billionaire and Trump associate, who is the founder of the property development company DAMAC Properties.
According to Trump, Sajwani's DAMAC Properties is committed to investing "at least" $20 billion in the project. However, the president-elect suggested that the investment could potentially double or even exceed that amount.
"This investment is the cornerstone of my plan to revitalize American infrastructure and bring jobs back to the United States," Trump stated during the press conference at Mar-a-Lago. "We are at the beginning of a great, golden age of business and a golden age of common sense." (Related: Trump's impending return to the White House fuels fears of retaliation, legal action.)
The data center initiative, critical for supporting artificial intelligence and digital growth, is expected to drive significant economic activity in the United States. An August 2024 report highlighted a 30 percent annual growth rate in data center occupancy since 2020. Trump's proposed deregulation of the energy industry aims to support this increasing demand and maintain grid reliability.
The first phase of the project will focus on eight states, including Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan and Indiana. The plan is expected to create numerous job opportunities and stimulate economic growth in these regions.
Meanwhile, Sajwani, in brief remarks at Mar-a-Lago, attributed his decision to commit to this significant investment to the outcome of the recent presidential election.
"It's been amazing news for me and my family when [Trump] was elected in November. We've been waiting four years to increase our investment in the U.S. to very large amounts of money," he said.
Trump proposes fast-tracking environmental approvals for major investors
In addition to the data center investment, Trump also proposed fast-tracking environmental approvals for foreign investors contributing over $1 billion to the U.S. economy.
In December, Trump announced his plan on Truth Social that the expedited process would apply to all types of approvals, including environmental ones.
"Any person or company investing one billion dollars, or more, in the United States of America, will receive fully expedited approvals and permits, including, but in no way limited to, all environmental approvals. GET READY TO ROCK!!!" Trump wrote.
While the specifics of Trump's plan remain unclear, the post indicates a significant shift in regulatory policy. The transition team did not immediately provide details on how the expedited process would be implemented or what specific regulations would be affected. This ambiguity has left many questioning the practical implications of the proposal.
He also hinted at imposing "serious tariffs" on Mexico and Canada, emphasizing, "We want to get along with everybody, but it takes two to tango." Trump declared, "Windmills are littered all over our country. My administration will have a policy that no windmills will be built."
Business leaders have largely welcomed the proposal, seeing it as a potential catalyst for investment and economic growth. The promise of expedited approvals and permits is expected to attract significant foreign investment, potentially boosting job creation and infrastructure development.
Visit Trump.news for updates about the incoming president.
Watch the video below where Sen. Jim Banks (R-IN) talks about the GOP being unified behind Trump.
This video is from the NewsClips channel on Brighteon.com.
More related stories:
Trump celebrates Trudeau's resignation, calls for U.S.-Canada merger.
Trump set to be sentenced in New York for guilty verdict over hush money case.
Trump announces key U.S. State Department picks.
Trump's plan to pardon over 1,000 convicted J6 protesters sparks criticism from Big Government.
Sources include:
Please contact us for more information.