Kevin O'Leary said his Utah data center will create 10,000 construction jobs. The real number is far lower.

Kevin O'Leary has said his Utah data center development will create 10,000 construction jobs and 2,000 permanent roles.

There's one problem: It probably won't.

The "Shark Tank" investor may have overstated the data center's hiring potential during the construction phase, Business Insider learned in a conversation with O'Leary Ventures CEO Paul Palandjian.

The accurate estimate is closer to 4,000 new construction jobs over 10 to 15 years — and that isn't a guarantee.

"Look, these numbers are fluid, and they change by the day," Palandjian said, adding that the updated estimate is reflective of "our current thinking on the project."