North
Carolina Competes Act HB 117 Gives New Kings Mountain Data Center
Tenants Millions of Dollars in Tax Exemptions for Both Construction
and Operations.
Kings
Mountain, NC, USA (March 5, 2016) -- T5
Data Centers™, innovators in providing
state-of-the-art, customizable and highly reliable computing support
environments, has been granted tax exempt status by the state of
North Carolina for its new build-to-suit project at the company's
King's Mountain Data Center campus. The tax incentive was awarded
under the recently enacted HB 117, the North Carolina Competes Act,
which grants tax privileges specifically to data centers, and will
provide tax exemption for both data center construction and
operations.
Under
the tax exemption umbrella, T5 Data Centers is exempt from paying
sales or use taxes on major equipment and supporting infrastructure
during construction of the new build-to-suit data center. The savings
during construction are expected to be significant for T5 as well as
for T5's customers. It also means that T5 Data Centers and its new
customer will be exempt from taxes related to data hall IT
deployments and facility operations, which includes expenses for
servers, hardware, equipment, and taxes on electricity. To qualify
for the tax exemption, a cumulative anticipated investment of $75
million has to be made in the data center over five years.
"With
the new data center tax incentives, North Carolina becomes an even
better location for companies seeking to build a high-performance
data center facility," said Robbie Sovie, Vice President of
Construction Services. "The tax savings during the construction
phase are substantial, and our customers are already talking about
reallocating those tax savings to assist with continued investment in
the Kings Mountain data center. This new tax incentive package
continues to make North Carolina one of the most cost-effective
locations to build and operate a data center."
The
tax exemption savings new Kings Mountain tenants receive under HB 117
are in addition to the agreements T5 Data Centers has negotiated with
the City of Kings Mountain and Cleveland County for 30-year rebates
on real and personal property. The combined tax incentives make T5's
Kings Mountain campus an attractive location for data center
investment.
For
more information about T5's 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.
Media
Contact:
Aaron
Wangenheim
T5
Data Centers
(415)
292-7700
