Lebanon, Boone County, Indiana
Lebanon / Boone County — Indiana (LEAP Innovation District)
Last updated: 2026-03-29
Thesis
LEAP PUD provides by-right DC approval in the Industrial Mega Site subdistrict. Meta investing $10B+, Eli Lilly co-locating, state providing $60M infrastructure funding. Opposition exists but has not blocked any project.
Four-Dimension Breakdown
How this market scores
Permitted Use within the Industrial Mega Site subdistrict of the LEAP PUD, adopted unanimously August 2023. Multiple annexation ordinances executed. Plan Commission approved Meta's 1,500-acre development plan.
Boone REMC / Wabash Valley Power Alliance with DC recruitment program. WVPA filed for 1,200 MW at LEAP with MISO. Citizens Energy Group water program delivering 25M gallons/day. $60M state funding approved.
Two organized groups: Citizens Action Coalition (statewide moratorium call) and Boone County Preservation Group. Change.org petition with 1,000+ signatures. Legal challenge filed January 2023. But no project blocked or delayed.
Exceptionally fast by industry standards. Meta: council approved incentives unanimously November 25, 2024. Plan Commission approved development plan August 18, 2025. Groundbreaking February 11, 2026.
Evidence
Key findings
Data centers are Permitted Use in the LEAP Industrial Mega Site subdistrict.
City of Lebanon UDOMeta officially broke ground on $10B campus on February 11, 2026.
Meta NewsroomWVPA filed for 1,200 MW total demand at LEAP with MISO (expedited project review).
Indiana Economic DigestIncentives
Available programs
Meta 10-year, 50% real property tax abatement + TIF district
Council unanimously approved November 25, 2024. Meta investing $10B+ in 1GW campus.
SourceIndiana Data Center Sales Tax Exemption
Exemption on qualifying DC equipment and energy use. Administered by IEDC.
SourceMeta community investments — $1M annually for 20 years to Boone REMC Community Fund
Plus $120M+ toward water infrastructure improvements.
SourceKnown Risks
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The credibility of a favorable score depends on honest risk disclosure. These risks are documented in public records.
Two organized opposition groups (CAC and Boone County Preservation Group)
Legal challenge to annexation filed January 2023
WVPA 1,200 MW MISO request outcome uncertain
Indiana moratorium wave in other counties signals statewide tension
Recommendation
Standard process expected. LEAP provides an unusually favorable regulatory framework despite statewide moratorium activity in other Indiana counties.
Sources
Cited references
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