Wednesday, July 10, 2013

Governor McDonnell Announces $150 Million Investment in Loudoun County

English: The scenic byways of Loudoun County a...
English: The scenic byways of Loudoun County are spotted with historical structures dating back to before the Civil War. (Photo credit: Wikipedia)
~Digital Realty to create at least 50 new jobs in expansion~

RICHMOND – Governor Bob McDonnell today announced that Digital Realty Trust, Inc. (NYSE: DLR), a leading global provider of data center solutions, plans to invest at least $150 million by 2015 in its Loudoun County operation. The company is expanding and upgrading data center facilities in Loudoun County, and expecting to create at least 50 new jobs through June 30, 2015.

            Speaking about today’s announcement, Governor McDonnell said, “Digital Realty maintains a strong Virginia presence, and with this major investment will grow and upgrade its operation in Loudoun County in order to more effectively serve customers with data centers located in the Commonwealth. The abundant data center infrastructure in Virginia, as well as our Sales & Use Tax Exemption incentive for data center owners and their tenants, are major benefits that put us at the forefront of this booming industry. This significant relief on computer equipment effectively lowers the total cost of ownership and operation, and enables Digital Realty and its customers to continue to grow and thrive in the Commonwealth.”

            “Digital Realty is an important corporate partner and among the major players in this competitive market that have recognized the benefits of a Virginia location,” said Jim Cheng, Virginia Secretary of Commerce and Trade. “More than 50 percent of the world’s Internet traffic passes through the Commonwealth’s state-of-the-art infrastructure, and the company’s significant investment and expansion is a testament to Virginia’s leadership in the technology sector.”

            Digital Realty Trust, Inc. focuses on delivering customer driven data center solutions by providing secure, reliable and cost effective facilities that meet each customer's unique data center needs. Digital Realty's customers include domestic and international companies across multiple industry verticals ranging from information technology and Internet enterprises, to manufacturing and financial services. Digital Realty's 122 properties, excluding three properties held as investments in unconsolidated joint ventures, comprise approximately 22.7 million square feet as of April 26, 2013, including 2.6 million square feet of space held for development. Digital Realty's portfolio is located in 32 markets throughout Europe, North America, Asia and Australia.

            “This sales tax exemption is really a boon for our customers with data centers located in Loudoun County—already one of the most attractive data center markets in the country,” said Michael F. Foust, Chief Executive Officer of Digital Realty. “The significant relief we and our customers expect to receive effectively lowers the total cost of ownership of our data centers in the area. We are very excited about this development and believe it further establishes Virginia as a key hub for companies seeking to locate or strengthen their east coast data center footprint.”

            The company will be eligible for a sales tax exemption on eligible data center computer equipment as a result of legislation passed in 2009 by the General Assembly. The Virginia Economic Development Partnership worked with Loudoun County to grant the exemption to Digital Realty.

            “Loudoun County, Virginia is one of the strongest data center markets in the country, with five million square feet of data center space clustered in Data Center Alley, and another three million square feet in development,” says Buddy Rizer, Assistant Director of the Loudoun County Department of Economic Development. “We’re very pleased that Digital Realty, with more than one million square feet of space, is the largest data center operator in Loudoun County. And we look forward to the completion of their newest building, a 400,000-square-foot facility that will ultimately house 22 data centers.”
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