Facebook’s new Papillion data center is valued at $307 million so far, according to a Papillion building permit report released Tuesday.

But that figure is just the valuation for one 450,000-square-foot building and a 70,000-square-foot administrative building. The data center site plan calls for another 450,000-square-foot building. That permit hasn’t been issued yet.

Even so, it’s already the largest-ever private build-out in Papillion’s history, and likely the largest in Sarpy County’s, too.

The data center going up at Nebraska Highway 50 and Capehart Road is Facebook’s sixth in the United States and its ninth worldwide. Project leaders hope to have the buildings up and sealed for the winter by Thanksgiving. The data center is expected to be online in 2020.

Papillion issued Facebook’s permit on June 26, the city’s report said. The social media giant paid $2.2 million in permit fees.

Papillion spokesman Trenton Albers confirmed that the project is the city’s largest-ever private undertaking, and by a long shot. Andrew Rainbolt, executive director of the Sarpy County Economic Development Corp., said he wasn’t sure if it held the county’s record. “But I would guess so,” he said.

The Facebook data center’s valuation is more than that of all of the county’s building permits for 2011, when the total dipped to $285 million because of the recession. The county’s annual permits valuation has been climbing since then, according to numbers from the development corporation. In 2016, the county’s cumulative building permit valuations totaled $466 million.

Depending on the valuation for Facebook’s second 450,000-square-foot building, the one project could even surpass the county’s record for annual countywide permits: $536 million in 2014. Data centers the company has built elsewhere have price tags of more than $500 million.

The Facebook data center is also valued considerably higher than other Sarpy County data centers’ initial valuations, according to economic development corporation data.

Fidelity’s data center, on 114th Street and Cornhusker Road, was permitted at a valuation of $85 million in 2013. The Travelers Cos. data center, at Highway 50 and Schram Road, was permitted in 2014 at a valuation of $75 million.

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