Johan Börje, Stockholm Data Parks, Offers European Perspective on Tax Incentives at NYC Data Center Summit

NEW YORK CITY, NY – Incentives are a big part of the data center game, even if you want to build in a market that doesn’t have any – after all, you still have to worry about other markets. At CapRE’s 7th Annual New York Data Center Summit, a significant portion of the panel Best Practices for Site Selection in Manhattan, Suburban New York, Upstate New York and New Jersey Submarkets: Cost of Land, Cost of Power and Public Sector Incentives honed in on this topic. For example, Sean Brady, Managing Director at Cushman & Wakefield offered his thoughts when asked the question, how much do you think New Jersey would benefit from tax incentives for data centers? “One of the things that’s interesting is that I’m working on a building in Chicago. And the state of Illinois is trying to bring in new incentives,” he shared. “They’re seeing a lot of the flow going to Ashburn and some of the other places, where that might be tax incentives or other types of incentives, such as cheaper power. So they’re working on incentives. And I think you’re going to see a lot of different places start to put incentives in. In order to just draw in this business. It’s just a great tax base. Some of the criticisms is that it doesn’t bring as many jobs. But it certainly helps county tax bases and people balance their budgets. So for…