Stafford County, VA Proposes Tax Break to Attract Data Centers
FREDERICKSBURG, VA — The Board of Supervisors in Stafford County, VA has proposed a new tax classification to keep up with nearby Loudoun Coutny to attract data centers of their own. Nearby Fredericksburg County and Spotsylvania County reportedly plan to follow in the same footsteps.
“Tax incentives in Virginia have certainly attracted a massive amount of growth for the area and generated a great return on investment for the communities,” said Ali Greenwood, Senior Vice-President of JLL in an interview with Fredericksburg.com.
“This was the first time I’ve seen counties come together and agree on a set rate and depreciation schedule to try to attract these businesses to the region, said Mayausky. “We’ve done that on a regional basis so [data centers] don’t have to negotiate with an individual county.”
“We’re lowering our rates to match Prince William County’s and have adopted the same depreciation schedule as theirs,” said Scott Mayausky, Stafford County’s Commissioner of revenue in the same article. “We’re not giving away anything by lowering the tax rate, because at the current rate, data centers wouldn’t be coming to Stafford.”
At the current tax rate of $5.49, a single large scale data center with $200 million in equipment would generate $3.8 million a year in revenue. At the new proposed tax rate of $1.25 for data centers, that same business would generate $1.25 million in revenue—still a significant amount of county revenue, reads the report, who also intimated that John Holder, Stafford County’s director of Economic Development and Tourism told Fredericksburg.com that he hopes the Centerport Parkway business park will be a target area for new data center projects.