Amazon cloud computing unit plans to invest $11 billion to build data center in northern Indiana
The largest capital investment announcement in Indiana’s history: said Eric Holcomb.
Amazon ’s cloud computing unit Amazon Web Services plans to invest $11 billion to build a data center in northern Indiana that will create at least 1,000 new jobs, state and company officials announced Thursday.
Republican Gov. Eric Holcomb called the project planned near the town of New Carlisle, about 15 miles (24 kilometers) west of South Bend, “the largest capital investment announcement in Indiana’s history."
“This significant investment solidifies Indiana’s leadership position in the economy of the future, and will undoubtedly have a positive ripple effect on the town of New Carlisle, the north central region and the state of Indiana for years to come,” Holcomb said in a news release.
The announcement from Holcomb's office and AWS did not include a timeline for the data center campus in northern Indiana's St. Joseph County, which abuts the Michigan state line.But Carl Baxmeyer, president of the St. Joseph County Board of Commissioners, said in the news release that it would be built “over the next decade” at the Indiana Enterprise Center, located just east of New Carlisle, and “will be a major employment center for all of northern Indiana.
”The AWS data center would contain computer servers, data storage drives, networking equipment, “and other forms of technology infrastructure used to power cloud computing capabilities, and generative artificial intelligence (AI) technologies,” according to the news release.Roger Wehner, AWS director of economic development, said the Indiana data center “will create numerous well-paying job opportunities and tap into the state’s burgeoning tech sector, while contributing significantly to the state’s growing economy.
”Based on the company 's planned investment, the Indiana Economic Development Corp. has committed to providing data center sales tax exemptions “for eligible capital investments over a 50-year term," the release states.The IEDC has also committed to a variety of performance-based tax credits to support the AWS data center plans, including up to $18.3 million in headcount-based tax credits, up to $55 million in Hoosier Business Investment tax credits, and up to $20 million in redevelopment tax credits, the release states.
AWS will provide up to $7 million to support road infrastructure improvements along State Road 2, surrounding the company’s planned data center, according to the release.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How many years will it take to reach Rs 3 crore corpus if your monthly SIP is Rs 4,000, Rs 5,000, or Rs 6,000
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
Reduce Home Loan EMI vs Reduce Tenure: Rs 75 lakh, 25-year loan; which option can save Rs 25 lakh and 64 months and how? Know here
Top 7 Large and Mid Cap Mutual Funds with Best SIP Returns in 5 Years: No. 1 fund has turned Rs 15,000 monthly SIP investment into Rs 20,54,384; know about others
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
PSU Oil Stocks: Here's what brokerage suggests on these 2 largecap, 1 midcap scrips - Buy, Sell or Hold?
07:31 PM IST