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DuPont Fabros Technology, Inc. Obtains Exemption From Virginia Sales And Use Tax For Tenants Of The Ashburn, Virginia Campus
Sep 13, 2012 (06:09 PM EDT)
WASHINGTON, Sept. 13, 2012 /PRNewswire/ -- DuPont Fabros Technology, Inc. (NYSE: DFT), today announced that it has entered into a memorandum of understanding (MOU) with the Virginia Economic Development Partnership (VEDP) that will allow the Company and tenants of the data center facilities located on its Ashburn, Virginia campus to obtain an exemption from sales tax on the purchase of computer equipment.
Hossein Fateh, President and Chief Executive Officer of the Company said, "Because of this sales tax exemption, Virginia once again is the optimal location for customers to establish an East Coast data center presence. The significant sales tax relief that DFT and its tenants will receive lowers the total cost to our tenants of operating their data centers within DFT facilities located on our Ashburn Corporate Center."
DFT's entire Ashburn Corporate Center will benefit from the sales tax exemption, including its existing five operational data centers - ACC2, ACC3, ACC4, ACC5 and ACC6 and two additional development sites – ACC7 and ACC8 – once those facilities are operational. The exemption is effective from July 1, 2012 to June 30, 2020, and applies to purchases of servers and other qualified equipment that are the heart of a data center operation. To obtain this exemption, DFT, along with its tenants, committed to invest $150 million and create at least fifty qualifying jobs from July 1, 2009 to June 30, 2016 at the Ashburn campus.
Speaking about today's announcement, Governor McDonnell said, "This sales tax exemption is critical to the growing data center industry. It provides an additional tool to help attract new business, and supports the growth of wholesale and retail data center facilities in Virginia. I congratulate DuPont Fabros Technology and VEDP on today's MOU, and also thank the General Assembly for passing this important legislation to build on the momentum of data center growth in Virginia."
About DuPont Fabros Technology, Inc.
About the Virginia Economic Development Partnership
SOURCE DuPont Fabros Technology, Inc.