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Northern Virginia Data Center Tax Incentives See Strong Return
With the latest info on the always-growing Northern Virginia colocation market, we continue our series of stories on the leading geographic markets for data center space. Data Center Frontier is partnering with datacenterHawk to provide in-depth market reports on each city we profile. This time, we revisit the Northern Virginia Data Center Market, the home of the cloud. The final entry in our series explores the business environment and the positive trends spurred by Northern Virginia data center tax incentives. Economic Development and Incentives Legislation making qualified data center facilities exempt from Virginia’s sales and use taxes went into effect in 2009. To qualify, data center providers must spend at least $150 million and create between 25-50 new jobs in the area. Those tax breaks have since been extended through 2035, providing long-term visibility into operating costs for data center operators. The incentives were also expanded to enable aggregation of the requirements across multiple data centers and their tenants. This reduced the capital investment needed to receive the tax abatement and encouraged service providers to build multiple data center
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