CyrusOne Data Centers in Northern Virginia Qualify for Tax Incentives
September 26 2019 - 11:56AM
Business Wire
Customers in Loudoun County are now exempt from
sales tax on all equipment deployed in CyrusOne facilities
CyrusOne Inc. (NASDAQ: CONE), a leading global real estate
investment trust (REIT) has qualified for tax incentives in Loudoun
County, exempting customers from sales tax payments on all
equipment deployed in our data centers located in that county.
"We have been working to secure this tax incentive for our
customers for the past 5 years, which will significantly lower our
customers’ expense burden,” said Erik Leban, vice president of tax
at CyrusOne. “For a typical 10-megawatt hyperscale deployment, we
estimate that our cloud customers could expect to save up to nearly
$50 million in taxes over the life of their contract or roughly $20
per kilowatt per month. We are one of the few companies that have
qualified for the exemption as we have invested nearly $1 billion
constructing one of the largest data center deployments in Loudoun
County. This is a continuation of the diligent tax work we have
done on behalf of our customers petitioning for favorable tax
legislation in Arizona, Illinois, Georgia, and Texas.”
While customers typically look to minimize lease and power
costs, taxes often get overlooked and can make up a significant
hidden cost. The tax incentive dramatically decreases the cost of
deploying computer and network equipment in our facilities,
allowing CyrusOne to focus on lowering customers’ total cost of
ownership. With more than 70% of the world’s internet traffic
passing through Loudoun County’s digital infrastructure, there is
also a unique opportunity for retroactive tax refunds from expenses
dating back to 2014.
For more information about CyrusOne, call 1-855-908-3662 or
visit www.cyrusone.com. Connect with us on Google Plus, LinkedIn,
Twitter, and Facebook.
About CyrusOne
CyrusOne (NASDAQ: CONE) is a high-growth real estate investment
trust (REIT) specializing in highly reliable enterprise-class,
carrier-neutral data center properties. The Company provides
mission-critical data center facilities that protect and ensure the
continued operation of IT infrastructure for approximately 1,000
customers, including more than 200 Fortune 1000 companies. With a
track record of meeting and surpassing the aggressive
speed-to-market demands of hyperscale cloud providers, as well as
the expanding IT infrastructure requirements of the enterprise,
CyrusOne provides the flexibility, reliability, security, and
connectivity that foster business growth. CyrusOne offers a
tailored, customer service-focused platform and is committed to
full transparency in communication, management, and service
delivery throughout its nearly 50 data centers worldwide.
Additional information about CyrusOne can be found at
www.cyrusone.com.
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David M. Baum CyrusOne@allisonpr.com +1 646.428.0620
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