Investment giant Blackstone has announced a major commitment to the future of Pennsylvania’s digital infrastructure, with more than $25 billion earmarked to develop data centers and expand the region’s energy capabilities. The funds, managed through Blackstone Infrastructure and Blackstone Real Estate, are aimed at catalyzing an additional $60 billion in follow-on investment, further positioning the Commonwealth as a critical node in the growing U.S. digital economy.
The investment will be led in part by QTS Realty Trust, Blackstone’s data center platform and the world’s largest independent data center operator. QTS has already acquired land parcels across northeastern Pennsylvania with plans to develop and operate next-generation data center campuses. The company is also expected to issue a Request for Information (RFI) to identify other localities in the state that could host similar developments.
QTS’s expansion in Pennsylvania underscores the region’s increasing importance to hyperscalers and enterprise customers seeking scalable, cost-efficient infrastructure to support AI, cloud computing, and digital transformation initiatives. According to QTS co-CEO Tag Greason, the state’s abundant, affordable energy – representing 20% of the U.S. natural gas supply – makes it uniquely positioned to power the demands of artificial intelligence and high-density compute workloads.
Construction on the first sites is expected to begin before the end of 2028, pending regulatory and utility approvals. Pennsylvania’s new permitting system, known as Fast Track, will be used to accelerate development timelines and facilitate the rapid deployment of AI-related infrastructure.
JV with PPL Corporation
In parallel, Blackstone has entered into a joint venture with PPL Corporation, a leading utility headquartered in Allentown, Pennsylvania. The venture will focus on building new natural gas power generation assets to support the state’s energy needs as demand from digital infrastructure continues to grow.
This dual-pronged strategy reflects Blackstone’s broader investment thesis, which prioritizes digital infrastructure and energy as high-conviction themes. Company executives emphasized the importance of aligning with public-sector goals and local communities to create long-term, sustainable outcomes. “We’re thrilled to be investing behind two of our highest conviction themes – digital infrastructure and energy – in a part of the country that is ideally situated to support and expand America’s leading position in the AI revolution,” said Jon Gray, President and COO of Blackstone.
The initiative also carries significant economic implications. Blackstone estimates that QTS and its clients will generate or support more than 6,000 jobs annually during a decade-long development phase, and over 3,000 permanent jobs once operations are underway. The company has pledged to work closely with labor organizations in Pennsylvania, continuing its broader partnership with unions across its global operations.
Community involvement will be a core pillar of the initiative. Blackstone and QTS plan to participate in regional outreach, including volunteer activities and partnerships with local organizations, in alignment with Pennsylvania’s infrastructure and economic development goals.
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