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Why are they giving these data centers tax breaks? They’re not bringing but a few jobs to the area and are consuming large amounts of resources. If anything they should be paying more instead of getting tax breaks.
Because we are led by easily persuaded idiots.
In the long run the city will receive more tax revenues. In the short term the construction business.
The city also receives bofa in the short term
They should consider bofa instead
Absolutely not. No. Stop giving businesses tax breaks. They are not good value to us as taxpayers. This is egregious.
Who are you speaking for? This land currently brings the city $10,000 per year in taxes. With this abatement discount for 10 years it’s still millions per year in new revenue. Then double after that. These comments over and over from misinformed people are sickening as educated people understand that the city wins
Matt, please spare us the condescension if your level of education on the subject amounts to reading the same article we all did and regurgitating the numbers with no nuance or context. You should read the article in bofa next
I previously read an article that this land has been vacant for 7 years or more so maybe the highest and best and maybe only use is a data center on this industrial zoned land.
Oh please, Matt. For one, the property is no longer zoned industrial. Second, this hardly passes the highest and best use test. Jumping at, and then incentivizing, the first proposal does not satisfy the test. I bet you knowingly schill for developments meeting the “but-for” test that is required of TIF, but commonly ignored.
And it will go to near-zero once the incentives expire and the company writes off the property, since it’s designed to depreciate as quickly as possible.
The equipment they put in those data centers won’t be worth anything in 5 years and they are giving a 15 year tax break?
EXACTLY. This is a scam. Taxpayers are getting fleeced. If this company can’t build a data center on its own merit, then they don’t deserve to build one.
It’s a competitive world and the city of Indianapolis must not allow these huge investments to go to other cities and states.
Why
In what way? This produces near-zero long term jobs, will require immense amounts of resources from the City, and will be a massive eyesore. The other cities can have it.
You know what would actually make us more competitive? Putting that $250M into housing, transportation, and other quality of life improvements.
Giving tax breaks to big businesses has been a failure of an economic development strategy. Time to abandon it.
Sabey will probably pay about 80 percent of the fixed cost to expand utilities in the Decatur Central Area. We haven’t upgraded our electrical, water, sewer, and gas infrastructure in 50 years, and now we are paying the price for years of inaction. Read this article – https://justthenews.com/podcasts/john-solomon-reports/special-report-myths-about-data-centers
Taxes collected are zero if this deal doesn’t happen, pretty easy give on a partial abatement that burns off in 10 years, this is a huge increase to the tax base that otherwise wouldn’t be received if no development happens at this property.
There will be incremental costs to the state and city for infrastructure to support a project like this. Even minimal road repairs and up to accelerated improvements are typically overlooked. A partial abatement makes more sense, and if it puts the project at risk, you raise the tenant fees.
Screw it. Find developments that actually create long-term jobs and employ the people in the area. This is not a good value to the taxpayer.
This building will also be written off in ten years. These are designed to depreciate FAST. We won’t get squat after the tax abatement ends.
Also, data center providers pass tax breaks through to their clients like Google, and they constantly expand and refresh their gear. When was the last time anyone kept a computer or phone for 5 years? Also, Sabey and other DC providers don’t build out all their infrastructure day one; they add as the buildings get occupied. What I saw is they will have multiple buildings, and they won’t build all of them day one.