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 [1]. 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.
Rich Miller is the founder and editor-in-chief of Data Center Knowledge, and has been reporting on the data center sector since 2000. He has tracked the growing impact of high-density computing on the power and cooling of data centers, and the resulting push for improved energy efficiency in these facilities.
Article printed from Data Center Knowledge: http://www.datacenterknowledge.com
URL to article: http://www.datacenterknowledge.com/archives/2010/08/26/tax-pact-clears-way-for-raging-wire-expansion/
URLs in this post:
[1] local media reports: http://www.sacbee.com/2010/08/25/2980462/sacramento-county-tax-breaks-help.html
[2] Rich Miller: http://www.datacenterknowledge.com/archives/author/richm/
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