In a move to attract more data center investment into the Tidewater area, the city of Virginia Beach has dropped the tax rate on equipment purchases by 10% of the previous rate. This takes the initial tax rate of 4% down to .4% on products such as IT, power equipment, cooling equipment and additional products needed for a Data Center facility.
Many turn to Northern Virginia when thinking of popular Data Center locations, as it leads the United States in new facilities, but Virginia Beach is hoping these tax incentives will drive new facilities to consider construction in the area.
Many large corporations such ads Dominion Energy, Telefonica and others are choosing Virginia Beach for large satellite offices and headquarters for international business thanks to their lenient tax rates and commercial real estate prices. Virginia Beach was also chosen as one the 10 Best Cities to Live in by USA Today. This combination attracts the large corporations to town and creates a need for Data Center facilities in the area.
Is your business considering a location move to Virginia Beach. CriticalCxE is located in the Greater Virginia/Maryland area and can easily assist your business to take advantage of this growing tech area.