SOURCE: BYTEGRID

BYTEGRID

July 14, 2014 07:58 ET

BYTEGRID Data Center Customers to Receive up to $12 Million Incentive as Company Secures Economic Development Grant From Montgomery County, MD

Incentive Saves Customers Millions on Property Taxes

SILVER SPRING, MD--(Marketwired - Jul 14, 2014) - A new economic development fund incentive grant will provide up to $12,000,000 in rebates for customers of BYTEGRID's Silver Spring, Maryland data center. The grant agreement will provide funding to offset a customer's IT infrastructure operational costs for a period of up to 12 years. The grant of up to $12 million was awarded by Montgomery County to BYTEGRID® Holdings LLC, a leading data center company focused on the nationwide acquisition, development and operation of premier multi-tenant data center facilities.

The incentive was designed to enhance Montgomery County's competitiveness with other progressive incentive-based programs in other jurisdictions nationwide, and was accomplished through the joint efforts of BYTEGRID, the County Executive, the County Council, and Montgomery County's Department of Economic Development. Because of the ideal proximity of BYTEGRID's data center just outside Washington, D.C., and the inherent business ecosystem that is generated by multi-tenant data centers, the incentive is expected to facilitate new business growth in Silver Spring and Montgomery County.

"The state of Maryland, and Montgomery County in particular, have become increasingly attractive options for large private and public enterprise organizations seeking to optimize costs by outsourcing IT infrastructure," said Steve Silverman, Director of Business and Economic Development for Montgomery County. "The economic development grant for BYTEGRID's data center customers is a clear signal of the County's commitment to create a highly pro-business region that is already home to a number of leading digital age businesses in healthcare, financial services, IT services and cyber security."

"We are extremely pleased to now offer this incentive grant to our data center customers in Silver Spring, making our co-location and enterprise data center offerings even more attractive," said Ken Parent, CEO of BYTEGRID. "Local and state governments in the region and nationwide offer a broad range incentives to data centers. This incentive makes Montgomery County very attractive to businesses and is testament to the county's understanding of the economic impact of the ecosystems created around multi-tenant data centers, which have rapidly become commerce platforms for a new generation of businesses." 

BYTEGRID's data centers are highly secure, compliant business platforms serving some of the world's largest companies and government agencies, including, among others, five (5) Fortune 500, five (5) US Government related agencies and four (4) private sector enterprises with annual revenues in excess of $1 billion each. These organizations rely on BYTEGRID to provide the compliant grade data center and IT infrastructure underpinning mission-critical operations that rely on BYTEGRID's proven operations of more than 100,000 hours of zero downtime.

BYTEGRID's Silver Spring facility is its flagship data center campus consisting of two data center facilities (MDC1 and MDC2) encompassing 91,000 sq. ft. of computer room floor and 9 MWs of UPS power capacity. MDC1 is the largest multi-tenant data center in Maryland, offering a high availability solution through a concurrently maintainable and fault-tolerant design. MDC2 is a special purpose data center serving the storage compliance requirements of today's legal, finance, banking and insurance sectors. The campus is served by over ten telecommunication carriers and other fiber network providers offering customers options to choose from a vast array of connectivity solutions.

Overall, BYTEGRID owns and operates five data centers in five geographically dispersed markets encompassing more than 700,000 square feet of premier multi-tenant colocation data center space, and powered shell facilities meeting the highest standards for security and reliability.

The Company is currently leasing space in most of these centers while planning the acquisition of additional facilities this year.

About BYTEGRID®
BYTEGRID Holdings LLC focuses exclusively on the nationwide acquisition, development and operation of premier data center facilities. The company serves the growing need for mission-critical data center space by providing highly secure, interconnected, carrier-neutral, and density-robust data centers that serve commercial, government and service provider markets. A privately-held company headquartered in Northern Virginia, BYTEGRID currently owns and operates data centers in the Washington, D.C., Atlanta, GA, Cleveland, OH, Chicago, IL, and Seattle WA metro areas with plans to acquire additional facilities in 2014. The company is led by industry veterans with significant experience in data center operations, design and construction; data center sales and marketing; real estate development and finance; and telecommunications. For more information, please visit www.BYTEGRID.com.

Contact Information

  • BYTEGRID CONTACT:
    Carter B. Cromley
    Email Contact
    (703) 861-7245