According to the announcement, Skybox and Prologis plan to build a data center campus on the site.
The land is located in the Hutto Megasite, an approximately 1,400-acre tract of land on Hwy. 79 earmarked for industrial development.
JC Witt, vice president and investment officer at Prologis, said the growth happening in and around Hutto made the city a compelling location for the campus.
"The city of Hutto is very attractive for its strong workforce, prime location and pro-growth mindset," Witt said in the announcement. “The site on Hwy. 79 is a rare find, and we’re thrilled to have the opportunity to work with the city and Skybox Datacenters to develop it."
The city has not yet released information about how much Skybox and Prologis will spend on the project, how many jobs it will bring to Hutto or any economic incentives between the city and the two companies.
Skybox recently broke ground on a similar but much smaller project in Pflugerville that is expected to bring an investment of up to $548 million.