Wal-Mart has finalized the $5.3 million land deal necessary to pave the way for construction of a 210,000-square-foot corporate data center in northern Colorado Springs, announced last July.

The world's largest retailer completed the purchase recently, buying up four parcels totaling 24 acres, according to a company spokesman. Wal-Mart officials have previously stated that construction on the project would begin in October and completed in late 2012.

Wal-Mart was apparently wooed by local officials through nearly $4.5 million in sales and business personal property tax rebates for the project which is expected to inject about $488 million into the regional economy over 15 years.

The company says that it will likely employ 30 people to operate the center, with salaries of $30,000 to $70,000. While officials have not commented on the project's cost, some experts estimate that Wal-Mart will spend nearly $100 million to build the data center and invest at least $50 million in machinery and equipment costs over that 15 year period.

Colorado Springs is already home to data centers belonging to many major companies, including Progressive Insurance, FedEx and Hewlett-Packard.

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