With a good share of the country's business reporters freaking out over today's first-ever public stock sale by Facebook, The New York Times' Bits blog hones in on the company's new Oregon tax break.

"A few hours after the I.P.O. Friday, Oregon Governor John Kitzhaber was scheduled to sign into law a so-called “Facebook bill” that assesses big data centers in Oregon for taxes on their local value, not on intangible assets like their national brand. The signing will take place at Facebook’s 333,400 square foot data center, located in Prineville, Ore.""With this bill in place, Facebook is likely to build a second big data center at the site, which is a showcase for the company. … ""The Oregon law applies to other companies operating big data centers in Oregon, as well. Apple, Google, Amazon and other companies operate computer centers in the state, which is an attractive location for its geographic location with low electricity costs."