Meta will open a Durham office after months of speculation

Meta is opening an office in downtown Durham, the company formerly known as Facebook confirmed to Axios on Monday, ending months of speculation.

• Meta plans to have around 100 engineers working from the new office in the American Tobacco Campus.

Why it matters: The Triangle's tech talent base continues to draw the attention of the world's largest tech companies, with companies like Amazon, Apple, Google and Meta all hiring remotely or for an office here.

• The growing tech presence here is one reason the Triangle is expected to have the fourth-fastest growing economy in the U.S., according to a forecast from the Kenan Institute of Private Enterprise.

The big picture: Apple has pledged to hire 3,000 workers at its planned Research Triangle Park campus by 2032. Already Apple is subleasing space in a MetLife tower in Cary.

• Google opened an office in downtown Durham last year, with a goal of eventually reaching 1,000 employees there.
• Microsoft also has an office near Raleigh-Durham International Airport.
• And homegrown tech companies, such as Cary's Epic Games and Raleigh's Pendo, have also grown significantly in recent years.

Catch up quick: Meta began listing openings on job boards last year for its Reality Labs Division in Durham.

• And its former chief operating officer, Sheryl Sandberg, went on an extensive tour of the region last June. The News & Observer was the first to report the confirmed office plans Monday.

Reality check: Tech companies' lofty goals for the Triangle mostly were formed before the industry began widespread layoffs in the past few months.

• Meta, for instance, had been considering an expansion into Durham before it curtailed its own hiring plans. It laid off 11,000 workers in November.
• In January, Google laid off 12,000 workers.
• Apple, however, has so far avoided large layoffs.

What we're watching: Two of the largest planned office projects in the Triangle come from Apple and Epic Games. However, both of those offices still have uncertain construction timelines and come as remote work remains popular.

• Apple has been filing the permits needed for the early stages of construction on its site in Research Triangle Park. And Epic has not yet released new plans for its future headquarters on the former Cary Towne Center mall property.