Since the initial publication of the Pillsbury Guide to Data Centers in 2025, the market has continued to evolve—most notably with respect to power availability, energy strategy, tax and incentives planning, and investment activity across the sector. While many of the legal, commercial and regulatory frameworks addressed in the original Guide remain durable and relevant, recent developments warranted targeted updates and additions.

The 2026 edition expands and updates our energy-focused content to reflect the increasingly central role of power procurement, interconnection and long-term energy strategy in data center development. We have incorporated new materials addressing power purchase and interconnection agreements, solar and other renewable energy solutions, advanced reactor designs, and nuclear-powered data centers projects, including an updated project tracker. We have also added new analysis covering state and local tax considerations and incentive structures relevant to data center development and operations, as well as current M&A and private equity trends shaping investment in the sector.

The updated Guide is designed to provide a current, practical view of how data centers projects are being structured, financed, incentivized and executed today—and where the market is headed next.

In February 2023, shortly after the conclusion of the 2022 Men’s FIFA World Cup, we looked ahead to 2026 and noted that the largest World Cup in history would be coming to North America, and with it, a fresh round of investment in host cities. Now, with kickoff of the 2026 FIFA World Cup less than a month away, that investment cycle is no longer hypothetical. The 48-team, 104-match tournament kicks off on June 11, 2026, in cities across North America. The U.S. is host to 78 out of 104 total matches, and throughout those host cities, both public agencies and private businesses have undertaken major projects to prepare for the impending influx of fans during the course of the tournament.

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There is a lot of talk these days about “license to operate” for data centers, meaning management of the relationships with stakeholders and broader communities concerning both the benefits and adverse consequences of locating a facility in a particular locale. Here, we are speaking of “license to operate” more literally—namely, the legal and regulatory permitting and approval requirements for a privately owned data center whether by itself or colocated with a power generating plant.

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Mobility is the lifeblood of any city. How people are able to travel in, out and within a metropolitan area is vital to its citizens, businesses, supply chains and social services. And as U.S. cities have expanded in size and population density, the strategies for addressing mobility have evolved. Many have taken different approaches to public transit, and each city boasts a dense tapestry of roadways, walking paths and various parking options. But as cities continue to reexamine infrastructure strategies through smart city technology, a new field of transportation has emerged—micromobility.

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In January, we discussed the Statement of Principles jointly signed by the National Energy Dominance Council and governors across the mid-Atlantic region—framing accelerating demand (especially from large-scale data centers) as an emergency reliability issue for PJM Interconnection, L.L.C. (PJM), the nation’s largest power grid operator. That policy signal is now becoming a near-term, accelerated procurement and contracting exercise. On April 8, 2026, PJM notified stakeholders of a critical issue fast path reliability backstop procurement process. PJM subsequently released a request for information (RFI) with respect to a proposed Reliability Backstop Procurement (RBP)—a one-time mechanism intended to attract significant new capacity to address projected reliability shortfalls driven by large-load growth.

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A single hairline crack in a bridge deck can seem insignificant. But left undetected, minor cracks and fissures expand, water seeps in, steel corrodes and repair costs start to increase. This risk multiplies across thousands of miles of aging highways and bridges nationwide.

As infrastructure endures increasing strain from heavier traffic, extreme weather and deferred maintenance, engineers are exploring “self-healing” systems, where streets and bridges are built with materials that can repair themselves. Concrete, asphalt and composites capable of detecting and mending microcracks autonomously are moving from laboratory research to pilot projects. But while emerging technology promises longer-lasting infrastructure, it also raises questions about long-term maintenance, performance guarantees, procurement frameworks and risk allocation.

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The explosive growth of data‑center load—driven by artificial intelligence, cloud computing and the expansion of digital infrastructure across industries—has forced U.S. energy regulators into unfamiliar territory. Nowhere is this more evident than at the Federal Energy Regulatory Commission (FERC), which is actively considering how large, concentrated loads can be powered without compromising grid reliability or shifting costs to other customers.

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On March 31, 2026, the governors of all six New England states issued a joint, bipartisan statement committing the region to explore deployment of advanced nuclear energy technologies while supporting the continued safe, affordable and reliable operation of New England’s existing nuclear generation facilities. This coordinated regional initiative follows a major policy announcement in June 2025 by New York Governor Kathy Hochul directing the New York Power Authority to pursue development of at least 1,000 MW of advanced nuclear generation to support statewide reliability needs and New York’s zero‑carbon mission. Less than one year after New York formally embraced a modern nuclear renaissance, that renaissance has now expanded across the New England states—signaling a broader Northeast regional pivot toward nuclear as a core element of long‑term reliability, affordability and decarbonization strategies. For utilities and power generators, this shift creates both opportunities and planning imperatives that warrant immediate attention.

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In our latest roundup, California to pursue office-to-housing conversions, hoteliers to increase investment in artificial intelligence, private credit exodus to boost commercial real estate capital, and more!

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In our latest roundup, relistings reached highest total in a decade, Florida State Legislature passes bill to increase the state’s housing supply, data center construction adapts to changes and more!

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