Stream Data Centers Qualifies for Tax Incentives in Minnesota

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Dec 09, 2014, 11:46 ET

CHASKA, Minn., Dec. 9, 2014 /PRNewswire/ -- Stream Data Centers has announced that their newly constructed Stream Private Data Center in Chaska is the first data center in the State of Minnesota to be certified for the state's data center sales and use tax rebate incentives. The State of Minnesota has certified that the Stream Private Data Center in Chaska has met the state established thresholds, allowing all current and future tenants to be eligible for the state's significant rebates for the next twenty years.

Updated in 2013, the new sales tax rebates for data centers allows each user within a qualified data center to receive a rebate of all sales and use taxes paid on data center equipment, IT software, servers, networking gear and electricity. "This is of course a great opportunity for Stream Data Centers, but more importantly, this is a great economic benefit for each client that occupies space within this brand new data center," said Anthony Bolner, managing director and partner at Stream Data Centers.

"We are excited that Stream's Private Data Center in Chaska is the first operational data center in the state to qualify for these new incentives," said Gene Goddard, director of business investment for GREATER MSP, the Minneapolis St. Paul Regional Economic Development Partnership. "We have seen demand in this market from Fortune 500 companies both headquartered in the state and from outside the state show interest in Minnesota data centers because of these new aggressive incentives and the savings they provide."

In a study conducted by Excipio Consulting, an independent IT Consulting firm, it was estimated that the Minnesota sales & use tax rebates will typically equate to 35 to 50 percent savings for a typical data center user's total cost of occupancy. Additional savings are available to all data center users in the State of Minnesota because the State of Minnesota does not have a personal property tax, another significant cost for data center users in most states.

The Stream Private Data Center in Chaska is a 75,675 square-foot purpose-built data center designed and constructed to withstand 185-mph winds and uplift. Additionally, Stream has received a Tier III Design Certification from the Uptime Institute, and has utilized accredited construction and design practices required to achieve LEED Silver Certification.

"Our purpose-built Private Data Center design, unique to Stream, continues to be well received by large corporate users with a need for highly redundant and reliable critical infrastructure," said Paul Moser, co-managing partner at Stream Data Centers. Stream's Private Data Centers are designed to deliver 100 percent uptime and provide corporations with fully commissioned, operational data center space ready for immediate IT deployment.

About Stream Data Centers

Stream Data Centers develops and operates purpose-built data center facilities for corporate users. Stream has acquired, developed and operated more than 1.44 million square feet of data center space in Texas, Colorado, Minnesota and California representing more than 130 megawatts of power. For more information, visit Stream Data Centers' website at www.streamdatacenters.com.

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SOURCE Stream Data Centers