MLA Claire Sugden has welcomed the news that the Enterprise Zone has been designated.
The East Londonderry MLA says that the first investors are expected to be on site later this year.
She said: “With the recent extra capital allowance I am delighted that progress is happening sooner rather than later.
“The data centre is the tip of the iceberg of opportunities for the wider North Coast. Along with a reduction of corporation tax and Project Kelvin, we are uniquely placed to offer incentives for foreign investors.
“The Enterprise Zone also has the potential to support local business. The jobs that come with a data centre are in reality minimal, but the necessary infrastructure and the business it will eventually attract are important for the future of our local economy.
“I will continue to work closely with local government and the NI Executive to ensure that we make the most of our huge window of opportunity that does not have to be limited to Coleraine.”