WASHINGTON, Oct. 03, 2016 (GLOBE NEWSWIRE) — DuPont Fabros Technology, Inc. (NYSE:DFT), a leading, owner, developer, operator and manager of enterprise-class, carrier-neutral, large multi-tenant wholesale data centers, today announced that the company and its customers met the performance targets associated with their Virginia Sales Tax Exemption Program for the Ashburn Corporate Campus (“ACC”).
Since January 1, 2009, DFT and its participating ACC customers invested over $3.3 billion at the ACC location which is well above the $150 million performance target. DFT and its customers added over 100 high-tech qualifying jobs at their ACC facilities which was double the performance target. DFT’s entire Ashburn Corporate Center benefits from the sales tax exemption.
Buddy Rizer, Executive Director Loudoun County, Virginia Economic Development, said, “DFT is a charter member of Loudoun’s Data Center Alley, and has been a key partner in helping us create an environment where data centers can thrive. DFT played an instrumental role in the passing of Virginia’s Sales Tax Exemption, and we thank them for their ongoing investment and continued commitment to Loudoun County.”
The exemption became effective in July 2012, and was originally set to expire on June 30, 2020. In March 2016, the state of Virginia enacted legislation granting a 15-year extension, which extended the expiration of the tax exemption to June 30, 2035. The strong investment performance and significant job creation generated by DFT and its ACC customers ensures the VA Sales Tax Exemption remains intact at ACC through 2035.
Christopher P. Eldredge, President and Chief Executive Officer, said, “The Virginia Sales Tax Exemption represents an important benefit for DFT and its customers. The sales tax exemption also provides significant benefits to the Commonwealth of Virginia. The exemption reduces the total cost of occupancy for our customers and enables Northern Virginia to maintain its position as the largest data center market in the United States.”
About DuPont Fabros Technology, Inc.
DuPont Fabros Technology, Inc. (NYSE:DFT) is a leading owner, developer, operator and manager of enterprise-class, carrier-neutral, large multi-tenant wholesale data centers. The Company’s facilities are designed to offer highly specialized, efficient, and safe computing environments in a low-cost operating model. The Company’s customers outsource their mission-critical applications and include national and international enterprises across numerous industries, such as technology, Internet content providers, media, communications, cloud-based, healthcare, and financial services. The Company’s 11 data centers are located in three major U.S. markets, which total 3.3 million gross square feet and 286 megawatts of available critical load to power the servers and computing equipment of its customers. DuPont Fabros Technology is a real estate investment trust (REIT) headquartered in Washington, D.C. For more information, please visit www.dft.com
CONTACT: For Additional Information: Jeffrey H. Foster Chief Financial Officer +1 (202) 478-2333 Steve Rubis Vice President, Investor Relations +1 (202) 478-2330