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.
DuPont Fabros Technology, Inc. (NYSE: DFT) is a leading owner, developer, operator and manager of large multi-tenanted wholesale data centers. The Company's facilities are designed to offer highly specialized, efficient, carrier-neutral and safe computing environments in a low-cost operating model. The Company's customers outsource their mission critical applications and include national and international enterprises across numerous industries, such as technology, Internet content providers, media, communications, cloud-based, healthcare and financial services. The Company's ten data centers are located in four major U.S. markets, which total 2.4 million gross square feet and 205 megawatts of available critical load to power the servers and computing equipment of its customers. DuPont Fabros Technology, Inc., a real estate investment trust (REIT) is headquartered in Washington, DC. For more information, please visit www.dft.com.
About the Virginia Economic Development Partnership
The Virginia Economic Development Partnership, a marketing organization, was created by the Virginia General Assembly in 1995 to encourage, stimulate, and support the development and expansion of the economy of the Commonwealth. The Partnership is a state authority, which is governed by a 25-member Board of Directors appointed by the Governor and the Virginia General Assembly. To accomplish its objectives of promoting economic expansion within the Commonwealth, the Partnership focuses its efforts on business recruitment, expansion and international trade. VEDP has offices in Virginia, Belgium, Shanghai, Mexico, Japan, India and the United Kingdom.
SOURCE DuPont Fabros Technology, Inc.