Amazon has made good on its promise to shift capital expenditures from its overextended logistics network to the data infrastructure for its industry-leading cloud computing services: Amazon Web Services (AWS) has announced it is planning to invest $35B by 2040 in multiple new data campuses that will combine its expandable cloud capacity in Virginia.

The Virginia Economic Development Partnership (VEDP), the Commonwealth's state economic development agency, and the General Assembly's Major Employment and Investment (MEI) Project Approval Commission put out the welcome mat for the mega-development with a new incentive designed to secure the $35B commitment.

Under a new program VEDP is calling the Mega Data Center Incentive Program, Amazon will receive a 15-year extension of Data Center Sales and Use tax exemptions on qualify equipment and enabling software, and an MEI performance grant of $140M for site and infrastructure improvements, workforce development and other project-related costs.