Data center development project with capital expenditure of $50 million and creating 12 jobs.
A statutory ten-year industrial tax abatement required the creation of at least 25 jobs for eligibility. Project did not qualify for the statutory abatement for lack of sufficient job creation (12 jobs created, versus the 25 jobs required by local ordinance).
Altus worked with local economic development to design and work with county council to obtain approval for a customized $4,000,000 incentive whereby the County provided an annual property tax rebate equal in value that which would have been realized under the statutory abatement.
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Last updated on July 29th, 2019 at 04:19 pm