- Microsoft will invest at least one billion dollars for 4 new data centers in Catawba County in North Carolina over ten years.
- The project has been granted with an economical grant and will be awarded following the proof of performance requirements standard for any Catawba County investment.
- The county officials from the three cities jointly approved incentive grants averaging 50 percent real property tax value, plus 85 percent personal property tax value.
Microsoft plans on executing one billion dollars over 10 years and building four new data centers in Catawba County. The data centers will be built in Conover, Hickory, and Maiden. In return, the giant tech company will get economic development grants.
Incentive grants for the project are approved
The Catawba County Board of Commissioners and the elected councils of Conover, Hickory, and Maiden jointly approved economic development agreements and incentive grants for the project. The terms include a guaranteed minimum investment in Catawba County of $1 billion and each municipality of $332 million, with an additional $33 million to Hickory for its second site, over 10 years. Paul Englis, Director of Community Engagement at Microsoft said;
« We are proud to work with Catawba County, the EDC, and local cities to bring exciting development projects to the area. Today’s announcement is just the start of our mutual partnership and Microsoft’s long-term commitment to the local community. »
According to Catawba’s official announcement, the incentives will be awarded only following the proof of performance requirements standard for any Catawba County investment and are safeguarded by clawbacks as required under North Carolina general statute and Catawba County policy. The grants of 50% real property and 85% personal property will be awarded over ten years, with two potential extensions of five years each conditioned on additional development spending by Microsoft.
The Conover site will be built on approximately 219 acres north of Conover on NC Hwy 16. It will include the multi-jurisdictional NCDataCampus site planned as a potential location for multiple technology facilities. The Hickory sites will be built on approximately 160 acres west of US 321 adjacent to Hickory Lincolnton Hwy. and on 16 acres on Tate Blvd. The Maiden site will be located on 292 acres north of W. Maiden Rd. and west of Zeb Haynes Rd. It is expected from the project to create at least 50 new jobs.