Wal-Mart stores received the incentive from the county in order to encourage the company to build a new data center in Colorado Springs.
According to reports from Stocks & Shares TV, the center is reportedly set to cost Wal-Mart around $175 million.
Nicola Sapp, county budget officer, commented: "We would be recognizing that the Wal-Mart Stores Inc.'s data center would generate that much and more, for a total economic impact way beyond the rebates."
She added that this is "completely performance-based and opens up new jobs" in an area that is doing what its can to attract and retain positions.
A data center could be a suitable solution since the sector is continuing to grow as data-storage needs increase.
Wal-Mart is based in Arkansas but is a multinational retail giant, which owns stores including UK's Asda chain.