Like a phoenix rising from the ashes, Fayette County stands to gain significant economic benefit from a new data center proposed by QTS technology. Greater sources of tax revenue, investments back into the community, and more opportunities for the area are among the expected perks that come along this high-tech addition. The development of this data center promises long term sustainability, adding much-needed services and resources into an otherwise struggling region.
QTS’ proposed data center is a major opportunity for the county, providing a much-needed boost to local businesses and communities alike. Data centers are essential for keeping the internet running, and this project offers an unparalleled chance to strengthen economic development in the area. The taxes generated by corporate businesses are a major factor in sustaining services for residents, making this investment a vital part of keeping the community moving forward.
The property tax revenue is estimated to increase by over 350,000 percent, from $11,000 to $40 million annually. This will help fund top-tier schools and reduce the burden of taxes on residents. Furthermore, the Fayette County Development Authority has already received over $430,000 in annual funding through brokering the land for QTS. This ensures that they can continue to remain financially self-sufficient without relying on taxing entities, a benefit which will last for years to come.
QTS is a responsible steward of the land and has made efforts to ensure that any development will not strain the grid for Fayette County residents. Instead, their mission is to strengthen the grid by building redundancies emphasizing carbon neutrality, as well as working to recycle and process water responsibly. Additionally, they are committed to investing in our area, with every dollar invested by QTS matched with at least one more from their tenants. This commitment also draws high-tech businesses to the area, furthering economic growth and opportunity for the community.
The results of this are evident, as the FCDAโs projects over the last decade have achieved an impressive ROI of 1500%. FCDA is a perfect fit for Fayette County, and their corporate citizenry will bring great value to the area.
QTS’s proposed data center is an unprecedented investment in the area. Not only will it generate massive amounts of taxes to help fund valuable projects and services, but it will also introduce new energy options to the community and draw high-tech businesses to the region to create even more economic opportunity. The effect of this venture will be long-lasting, as QTS has expressed their commitment to neighborly stewardship of our precious natural resources while concurrently investing heavily in new technologies that benefit everyone in Fayette County.
