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Bloomberg offered tempting power deal

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Bloomberg has received a promise of low-cost power from the New York Power Authority if it goes ahead with its planned Orangetown data center in New York.

The power company named Bloomberg as the top recipient of such a deal under the sixth round of its ReCharge New York Low-Cost Power Allocations, designed to boost employments numbers by increasing business activity in the state.

In total, it offered 19.6MW in allocations, providing Bloomberg with 8,000kW – a reward for the 80 jobs Bloomberg has committed to creating if it builds its data center in New York with a capital investment of US$245m.

This investment is only a small portion if what Bloomberg said it would be likely to spend on the project.

New York Mayor Michael Bloomberg, the company’s founder, said Bloomberg plans to invest US$750m in 15 years at the site already earmarked for development in Orangetown.

Part of this will be to build a 143,331 sq ft data center that will be constructed by Russo Development and Sentinel Data Centers and leased back to Bloomberg.

Bloomberg said it expected to pay US$435m for furnishing and equipping the site.

On top of the 80 jobs the site will create once complete, Bloomberg spokeswoman pam Snook told lohud.com that 250 people will be required for construction, which she hopes will kick off “as soon as possible”.

Bloomberg, however, has said that tax breaks are important if the project goes ahead, including sales tax breaks and other assistance.

The breaks issued by the New York Power Authority have seen input from the Governor’s regional economic development councils and Empire State Development.

In May, officials in New York approved a range of tax breaks for the build, but a site was still being decided.

The data center will be housed in a one-story facility and provide more than 7MW of critical power. The developers plan to bring it online in the middle of 2014.

 

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