USD/BTC = $95,533
Block 895,209
TL:DRTax breaks for a Spanish company to build a multibillion-dollar data center campus in Fort Worth are moving forward following a vote by Fort Worth City Council.
Turner Construction, a subsidiary of Madrid, Spain-based ACS Group, was seeking incentives to build an estimated $2.16 billion, four-building data center across 107 acres in Fort Worth near Hicks Field Road. The group's top customers include technology company behemoths such as Google, Microsoft and Apple, though the user of this campus has not been disclosed.City council approved an economic development agreement during its April 9 meeting.
It would provide a 10-year tax break starting at 35% in the first phase and up to 70% of the incremental value of business personal property in the second phase.The agreement was on the council's consent agenda, which includes items that require little discussion to vote.To receive the incentives, ACS would have to invest $481.6 million in real property improvements and $1.68 billion in equipment. The company would also have to commit to hiring 37 employees with minimum average annual salaries of $150,000 and meet construction deadlines for each phase.My Thoughts ðŸ’
Project approved! At the expense of the public of course with all the tax breaks. Data center construction continues on!