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Viridian Acquisitions, of Greenwood Village, Colo., in a response to a request for proposal put out by the city, has said it’s interested in buying the 250-acre brownfield site, cleaning it up and building on it a data center consisting of 8 to 11 buildings.

The proposed letter of intent outlines a framework for due diligence, environmental planning, and negotiation of a future development agreement that would address both site cleanup and reuse.

“This partnership offers the potential to transform a long-vacant, environmentally challenged industrial property into one of the largest private investments in Janesville’s history,” reads a city memo attached to Monday’s meeting agenda. “It could deliver substantial economic, employment, and sustainability benefits to the community.”

Under the proposal, Viridian Acquisitions, a nationally recognized brownfield redevelopment and investment firm, would evaluate two redevelopment scenarios: an 11-building data center campus or an 8-building hyperscale data center campus. Both concepts are based on Alliant Energy’s ability to deliver up to 800 megawatts of power to the site.

Viridian Acquisitions estimates the total project cost at roughly $8 billion, with a direct economic impact of $2.05 billion statewide, supporting 13,200 construction jobs and generating $870 million in wages and benefits. Once operational, the firm says it would expect the data center to generate $130 million in annual economic activity and support about 600 permanent jobs.

As part of the proposal, Viridian would remediate the site under a DNR-approved plan at an estimated cost of $30 million.

The company would also construct internal roads, utilities, and stormwater systems for the property. Portions of the land not required for the data center would be deeded back to the city for future municipal or redevelopment use.

The letter of intent also outlines several community and sustainability commitments, including:

• A “first source” local hiring program prioritizing Janesville-area contractors and workers.
• A partnership with Blackhawk Technical College to develop customized workforce training programs.
• LEED-certified building standards and renewable energy procurement commitments.
• Incorporation of noise and lighting controls to ensure compatibility with surrounding land uses.

Viridian’s purchase price would be $10 million, with an additional $4.6 million in predevelopment costs. The letter of intent would be good for 120 days, allowing time for feasibility studies and negotiations of a purchase agreement.

City officials emphasize that a letter of intent is non-binding and does not obligate the city to sell the property or offer financial assistance to Viridian Acquisitions. It simply authorizes both parties to proceed in good faith toward further due diligence and planning.

The city council has the option to not approve letter of intent, approve it or refer it back to staff with guidance on how the council wishes to proceed.

City staff is recommending that the council approve it.

If approved, the city will continue providing updates throughout the feasibility and negotiation process, with a final purchase and development agreement expected to come before the council for formal consideration in late 2026.

“This is an important next step in advancing redevelopment of the former GM/JATCO property,” city staff noted in the memo. “It represents a generational opportunity to diversify Janesville’s economy and return a key industrial site to productive use.”