DuPont Fabros Technology, Inc. Announces Over $900 Million Invested In
Ashburn, Virginia Under Sales Tax Exemption Program
WASHINGTON, Oct. 15, 2013
WASHINGTON, Oct. 15, 2013 /PRNewswire/ --DuPont Fabros Technology, Inc.
(NYSE: DFT) today announced that legislation signed into law by Governor Bob
McDonnell last year that expanded a sales and use tax exemption for the
purchase or lease of computer equipment and software by data centers is
encouraging investment and making Virginia more competitive in creating and
retaining construction and high-tech jobs. The Company and its participating
Ashburn campus tenants have invested over $900 million at the DFT Ashburn
Corporate Center ("ACC") campus since January 1, 2009.
Speaking about today's announcement, Governor McDonnell said, "When we put in
place smart policies at the state level we help the private-sector grow and
create good jobs for our people. This legislation is a perfect example.
Through this bill we have helped to ensure that, when companies look for a
place to start or relocate their datacenter, Virginia is at the top of their
list. We have the highest concentration of high-tech workers in the nation
and as a result of this initiative we have helped to bring more of these good
jobs to our skilled workforce."
Hossein Fateh, President and Chief Executive Officer of the Company said,
"This sales tax exemption enabled DFT to begin development of the second phase
of its ACC6 data center last year. Since ACC6 Phase II opened 100% leased in
early 2013, we were able to commence development of the first phase of our
ACC7 data center.This sales tax exemption is helping to keep Virginia as the
optimal location for data centers on the east coast of the United States.
DFT's entire expanding Ashburn Corporate Center benefits from the sales tax
exemption legislation, including the ACC7 data center facility currently under
development.The exemption is effective from July 1, 2012 to June 30, 2020,
and applies to purchases of servers and other qualified equipment that are the
heart of a data center operation.To obtain this exemption, DFT, along with
its tenants, committed to invest at least $150 million and create at least 50
qualifying jobs from July 1, 2009 to June 30, 2016 within the Ashburn
campus.As of June 30, 2013 the investment criteria has been achieved over six
fold and the majority of the 50 jobs have been created.
About DuPont Fabros Technology, Inc.
DuPont Fabros Technology, Inc. (NYSE: DFT) is a leading owner, developer,
operator and manager of enterprise-class, carrier-neutral, large
multi-tenanted wholesale data centers.The Company's facilities are designed
to offer highly specialized, efficient and safe computing environments in a
low-cost operating model.The Company's customers outsource their mission
critical applications and include national and international enterprises
across numerous industries, such as technology, Internet content providers,
media, communications, cloud-based, healthcare and financial services.The
Company's ten data centers are located in four major U.S. markets, which total
2.5 million gross square feet and 218 megawatts of available critical load to
power the servers and computing equipment of its customers.DuPont Fabros
Technology, Inc., a real estate investment trust (REIT) is headquartered in
Washington, DC.For more information, please visit www.dft.com
SOURCE DuPont Fabros Technology, Inc.
Contact: Mark L. Wetzel, Executive Vice President, Chief Financial Officer and
Treasurer, +1 (202) 728-0033; Christopher Warnke, Manager, Investor Relations,
+1 (202) 478-2330
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