Passage
of HB 117, the North Carolina Competes Act, Provides New Tax
Abatements and Benefits Specifically Designed to Make North Carolina
Attractive for Data Center Growth.
Kings
Mountain, NC, USA (October 2, 2015) -- Executives at T5
Data Centers, innovators in providing
state-of-the-art, customizable and highly reliable computing support
environments, indicate that passage of House Bill 117, the North
Carolina Competes Act, will create new growth opportunities for the
company's T5@Kings Mountain Data Center Park. The new legislation
includes components specifically designed to promote growth of data
centers within the state.
HB
117, the North Carolina Competes Act, includes a number of sales tax
incentives, including privilege tax breaks specifically for data
centers. Any equipment to be used in a data center such as servers,
equipment, cooling systems, data storage, and other components is
eligible for a new sales tax incentive capping the sales tax at 1
percent. The same incentive also has been extended to power such as
the generation, transmission, and distribution of electricity,
including substations used for data center purposes. Equipment and
electricity are two of the most expensive elements of data center
operations, so waiving sales taxes can result in a huge savings. To
qualify for the 1 percent privilege tax, data center owners and
tenants must make a cumulative investment of $75 million over five
years.
The
North Carolina Competes Act also includes employment incentive
programs and a reduction in personal income tax, making North
Carolina more attractive for skilled workers.
"We
have been actively working to see HB117 passed because we recognize
that these tax incentives will promote technological growth in
Cleveland County," said Frank Lyles, Chief Business Officer for
T5 Data Centers. "We already negotiated attractive property tax
rates with Kings Mountain, and with these additional sales tax
incentives on data center equipment and power, we believe Kings
Mountain is the ideal location for organizations looking for a
centrally located, high-performance, wholesale data center."
T5
Data Centers already has agreements in place for 30-year rebates on
real and personal property taxes with the City of Kings Mountain and
with Cleveland County. The new sales tax incentives offered by HB 117
are now available in addition to the already low tax rates in the
region.
The
T5@Kings Mountain data center campus features turnkey, power shell
and build-to-suit options within the 280-acre campus. The geographic
location has a low occurrence of both natural and manmade disasters
and the buildings are structurally enhanced to withstand winds up to
185 mph. The core and shell is LEED certified.
For
more information about T5's retail colocation and data center
services, visit http://www.t5datacenters.com.
About
T5 Data Centers
T5
Data Centers (T5) is a leading national data center owner and
operator, committed to delivering customizable, scalable data centers
that provide an "always on" computing environment to power
mission critical business applications. T5 Data Centers provides
enterprise colocation data center services to organizations across
North America using proven, best-in-class technology and techniques
to design and develop facilities that deliver the lowest possible
total cost of operations for its clients. T5 currently has
business-critical data center facilities in Atlanta, Los Angeles,
Dallas, Portland and Charlotte with new projects announced in New
York, and Colorado. All of T5's data center projects are
purpose-built facilities featuring robust design, redundant and
reliable power and telecommunications and have 24-hour staff to
support mission-critical computing applications.
For
more information, visit http://www.t5datacenters.com.
Media
Contact:
Aaron
Wangenheim
T5
Data Centers
(415)
292-7700
