Blackstone Inc (NYSE: BX) said on Monday it will invest more than $25 billion through its infrastructure and real estate funds to expand Pennsylvania’s digital and energy infrastructure, a move expected to spur an additional $60 billion in third-party investment across the state.
The private equity giant aims to transform the Commonwealth into a strategic hub for artificial intelligence (AI) and industrial redevelopment, reinforcing its position as a leading global investor in data centers and power generation, a statement noted.
QTS Realty Trust, the Blackstone-backed data center operator, has acquired land across northeastern Pennsylvania to build facilities aimed at hyperscalers and enterprise customers. It plans to issue requests for information to communities interested in participating in future developments.
Blackstone has also formed a joint venture with Allentown-based utility firm PPL to invest in new natural gas-fired power generation to support the growing electricity demands of AI infrastructure.
Jon Gray, Blackstone President and COO, said the deal aligns with the firm’s “highest conviction themes—digital infrastructure and energy” and that Pennsylvania was “ideally situated” for American leadership in AI.
The project is expected to create or support over 6,000 jobs annually during construction and more than 3,000 permanent jobs once operational, according to the company.
Pennsylvania’s low-cost energy reserves, which account for roughly 20% of U.S. natural gas production, make the region a key asset in achieving national AI development targets, Blackstone said.
Construction is scheduled to begin by the end of 2028, pending permitting and regulatory approvals.