Tax Pact Clears Way for Raging Wire Expansion
August 26th, 2010 By: Rich Miller
Colocation and managed hosting provider RagingWire Enterprise Solutions will begin work on a long-planned expansion of its Sacramento data center facilities after finalizing a package of tax incentives from county officials, according to local media reports. RagingWire will now move ahead with a $170 million expansion that will include a second data center adjacent to the company’s existing facility.
Sacramento County the county effectively will freeze RagingWire’s utility taxes at current levels for the next five years and halve the added taxes it incurs for the following five years, with total savings capped at $2.8 million, the Sacramento Bee reports. The expansion is expected to generate $7.7 million in property and utility taxes over the next decade and create 20 new jobs, the paper said.
Founded in 2000, RES achieved sustained profitability in September 2004. The company provides custom IT solutions for large, data-intensive enterprise companies.