CoreSite’s application with the Illinois Data Centers Investment Program has been accepted by the Illinois Department of Commerce and Economic Opportunity. Further, CoreSite is pursuing a final incentive agreement related to its new ground-up data center development in downtown Chicago.
In June 2019, the State of Illinois established a new ‘Data Center Investment Act’, led by Governor J.B. Pritzker, legislators and business leaders and organizations.
“The establishment of the Data Center Investment Act was a great outcome for the State of Illinois and for data center businesses like CoreSite,” said Matt Gleason, Vice President and General Manager, CoreSite. “We appreciate the efforts by everyone involved, including the work by the Chamber of Commerce, and the opportunity to be a small part of a great win for the State of Illinois and city of Chicago. We’re excited to have our application accepted as we work with the State to finalize our incentive agreement.”
New Data Center Development Downtown Chicago
CoreSite is building its new data center facility, known as ‘CH2’, in the heart of downtown Chicago. The Company’s CH2 data center is a purpose-built, ground-up development expected to be a 169,000 square foot facility at full completion. CoreSite CH2 Phase 1, a 56,000 square foot project, is targeted for completion in the second quarter of 2020.
CH2 is part of a connected campus, leveraging CoreSite’s existing CH1 data center in Chicago. CH2 would be positioned to deliver a rich community of enterprises, content providers, network options of over 40+ domestic and international carriers, leading cloud service providers with native cloud on-ramps, and best-of-breed solution partners.
Requirements for Data Centers Investment Program
The Investment Program requires CoreSite to achieve the following at its CH2 location:
- Create 20 new full-time equivalent jobs and make a capital investment, together with its customers qualifying investments*, of at least $250 million in a 60-month period.
- Obtain and maintain the requisite building certification, including, but not limited to, ENERGY STAR, a qualifying environmental-friendly program approved by the Investment Program.
*) This tax incentive is expected to be extended to CoreSite’s participating customers for buying equipment as part of locating in CoreSite’s qualifying new CH2 data center.