KINGS MOUNTAIN, NC –T5 Data Centers, innovators in providing state-of-the-art, customizable and highly reliable computing support environments for any enterprise, has just signed a new lease with a global financial company for its T5@Kings Mountain campus partly thanks to a new tax incentives package passed by the City of Kings Mountain.
The City of Kings Mountain has agreed to annex the balance of T5’s land at T5@Kings Mountain data center campus into the city. The annexation includes a tax incentive package that will provide T5 30 years of property tax rebates for additional assets placed on the land. The City benefits because annexing the T5@Kings Mountain campus means that the City will receive the franchise fees for power consumed by the data center; without annexation, the franchise fee would go to the state of North Carolina. Since data centers consume large quantities of power, the City should realize substantial revenue from franchise fees, as well as from revenue for water and waste water associated with the data centers.
“The ability to offer property tax concessions to prospective tenants is a huge plus for T5 and gives us a competitive advantage when competing with data centers around the country,” said Pete Marin, CEO of T5. “Our latest lease agreement was signed partly because of the attractive property tax rates, which will help attract additional tenants as we build out the T5@Kings Mountain park. By partnering with the City of Kings Mountain, T5 can attract new data center tenants and bring quality jobs into the area.”
The newest tenant to sign a 10-year turn-key lease is a global financial company that selected T5 Data Centers because of the company’s ability to build a custom data center facility for very competitive terms. The T5@Kings Mountain data center was attractive because of its superior security and system redundancy, its ready access to quality communications lines, the savings from tax incentives and the low cost of power. Duke Energy has dedicated a 180 MW substation to service the T5@Kings Mountain campus, including a concrete duct bank system for reliable power delivery. In addition to savings from property taxes, state incentives offer up to 100 percent sales tax abatement on data center equipment and software.
The T5@Kings Mountain data center campus features turn-key, powered 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 of up to 185 mph. The core and shell is LEED certified.
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 and wholesale 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, and Charlotte with new projects announced in Portland and Colorado Springs. 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.