Ohio has approximately $169 billion in proposed data center projects scheduled to begin construction during 2026–2028, ranking third in the nation behind Texas and Virginia. A Columbia Business School report calls the broader U.S. buildout the largest financial bet in American history, with $10 trillion in projected investment accounting for nearly 4% of gross domestic product.

Much of that money is landing in New Albany's backyard. The New Albany International Business Park houses data centers across 15 company campuses, according to the city's data center FAQ page, which puts the count at 40. The Columbus Dispatch reported 46 and counting as of this summer. Meta, Google and Amazon all operate major facilities there.

The national numbers come from a report by Columbia Business School professor Stijn Van Nieuwerburgh, according to Stateline's Tim Henderson. By comparison, 19th-century railroad construction consumed about $173 billion in today's dollars and generated roughly 2% of GDP over 20 years.

The state-by-state projections come from Industrial Info Resources, a market intelligence firm. Texas leads at $638 billion, followed by Virginia at $249 billion, Ohio at $169 billion and Georgia at $160 billion.

The boom carries risk. AI profitability has not caught up with the cost of building the infrastructure to run it.

"It is not a pretty picture right now," David Pickering, senior vice president of research at Industrial Info Resources, told Stateline. "The big players will no doubt find a way to make it profitable."

Data center construction value has more than doubled to $85 billion a year nationally, while all other construction value has dropped 8%, according to a Stateline analysis of Census Bureau data. The International Monetary Fund warned in an October report that lower-than-expected AI returns could trigger a market correction.

In New Albany, the scale is visible. Meta's campus spans 591 acres across three parcels valued at a combined $495 million, according to the Licking County Auditor, as reported by the Dispatch. Google's data center covers more than 440 acres in both Licking and Franklin counties. Tent-like "rapid deployment structures" for Meta's Prometheus AI expansion rose above the corner of Morse Road and Beech Road as of July 31.

Energy demands are drawing local scrutiny. The Ohio Power Siting Board heard community concerns about a proposed fourth natural gas plant to power Meta's operations, Spectrum News 1 reported. Advocates said three previously approved plants would have combined generating capacity exceeding 650 megawatts. The city's FAQ page says some high-consuming data centers have turned to generating their own power off the grid, with as much as one gigawatt of behind-the-meter natural gas generation planned.

The business park is not all data centers. Bayer announced a $2.2 billion pharmaceutical manufacturing site in the park, expected to create about 600 permanent jobs and 1,500 construction jobs, according to a Governor's Office announcement. Life sciences companies including Amgen, Hims & Hers, American Regent and Pharmavite already employ more than 2,660 people there.

Meta says its New Albany operations support 300 permanent jobs and peaked at 1,200 construction workers. A local public hearing on the proposed power plant is scheduled for Oct. 22.