Let’s take stock of the Facebook situation.
The social media giant is understandably unhappy with its unexpected $39 million utility bill courtesy of a New Mexico Public Regulation Commission ruling last week.
Now it appears that, before this entire imbroglio arose, Facebook took steps to deepen its New Mexico ties. Last month, before the PRC decided to stick the company with half the cost of a new Public Service Company of New Mexico transmission line, Facebook quietly acquired 456 acres of Los Lunas pastureland next to the 300 acres it has begun building its six-building, $1 billion data center on.
While the company hasn’t announced plans for its new property, the purchase is a reminder Facebook has given good faith indications it’s here for the long haul.
Gov. Michelle Lujan Grisham was right to reach out to and encourage company officials to hang in there while a $39 million solution is found. Let’s hope her assurances are enough to keep the economic powerhouse from changing its mind.
This editorial first appeared in the Albuquerque Journal. It was written by members of the editorial board and is unsigned as it represents the opinion of the newspaper rather than the writers.