CHICAGO, July 1, 2019 /PRNewswire/ -- QTS Realty
Trust (NYSE: QTS), a leading provider of hybrid colocation and mega
scale data center solutions, today offered its congratulations to
Governor J.B. Pritzker, the Illinois
General Assembly and the Illinois
Chamber of Commerce for the passage of data center tax incentive
legislation that has been advocated by QTS since 2016.
As a leading provider of hybrid colocation and hyperscale data
center services in Chicago, QTS
has worked closely with the Illinois Chamber of Commerce, state and local
officials and economic advisors to pioneer data center tax
reform. The new legislation expands Illinois' tax policy to provide incremental
tax incentives that exempt qualifying data centers from state and
local sales tax on equipment, such as cooling equipment, servers
and storage racks.
As explained in a report recently produced by Mangum Economics
for the Illinois Chamber of
Commerce, states with data center tax incentives have shown
significantly stronger data center growth than surrounding states
lacking data center incentives. With the enactment of this
legislation, Illinois joins other
states with tax incentives specifically targeted at attracting data
centers as part of expanded economic development efforts.
This will provide a powerful tool to increase Illinois' competitiveness and attract new
businesses into the state. In addition to providing capital
improvements that add to Illinois'
tax base, new data center investment also fuels an on-going demand
for data center construction which often uses union labor. This has
particular relevance for Illinois,
where employment growth in the state's construction sector has
lagged behind the national norm in recent years.
"We are thrilled and grateful to the Illinois legislature and Chamber of Commerce
for the opportunity to collaborate and succeed on this mission to
accelerate technology investment and innovation in Illinois," said Chad
Williams, Chief Executive Officer, QTS. "This legislation
not only benefits data center providers, but also Midwestern
customers and the business community at large, as it further
establishes Illinois as a key
business destination for businesses seeking secure and scalable
data center solutions."
Located on a 30-acre campus downtown, QTS Chicago represents the
transformation of the previous Chicago Sun-Times building
into the Company's state-of-the-art Midwestern hub. The data center
is a carrier-neutral facility featuring abundant power and
connectivity and is one of three QTS data centers now operating on
100% renewable energy. Customers have access to robust and diverse
connectivity solutions, a direct connect solution for AWS, and an
additional 125 megawatt in-grid power plant under construction.
About QTS
QTS Realty Trust, Inc. (NYSE: QTS) is a
leading provider of data center solutions across a diverse
footprint spanning more than 6 million square feet of owned mega
scale data center space within North
America and Europe. Through
its software-defined technology platform, QTS is able to deliver
secure, compliant infrastructure solutions, robust connectivity and
premium customer service to leading hyperscale technology
companies, enterprises, and government entities. Visit QTS at
www.qtsdatacenters.com, call toll-free 877.QTS.DATA or follow on
Twitter @DataCenters_QTS.
Media Contact:
Carter B.
Cromley
(703) 861-7245
carter.cromley@qtsdatacenters.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/qts-applauds-passage-of-tax-incentives-for-illinois-data-centers-300878502.html
SOURCE QTS Realty Trust, Inc.