PRINCE WILLIAM COUNTY, Va.--(BUSINESS WIRE)--Prince William County, strategically located in the world’s densest cluster of data centers, today announced it has surpassed 3.5 million square feet of data center space.
Collectively, the data center industry has yielded 31 economic development projects to date, that injected $6.2 billion in capital investment and 912 highly-skilled jobs into Prince William County. Today, the County has identified over 10,000 acres designated to support data center commercial interests, as defined in the Data Center Opportunity Zone Overlay District (DCOOD).
“This is a high-performing growth industry that supports high-paying STEM-related jobs and a talent pipeline for other fast growing enterprises,” said Jeffrey Kaczmarek, Executive Director, Prince William County Department of Economic Development. “The ever increasing demand for data at the speed of light now transcends every aspect of everyday life – from appointment-setting to video-watching – and it is this demand that continues to drive industry momentum.”
The County continues to be a magnet for data center projects, as the region is home to one of the oldest and most important internet exchange points on the global map of the internet (the Metropolitan Area Exchange-East). Further, it is estimated that the local data center industry yields approximately $4.30 in tax revenue to the County, for every $1 in County services it requires, according to the Northern Virginia Technology Council’s Data Center Report.
As of December 2016, Northern Virginia leads the North America Data Center Market with over 30% of the market share and a record of 113.0 Mega-Watts (MW) absorption of the total 357.85 MW in the top U.S. markets, according to JLL’s 2017 Data Center Outlook; nearly double that of the nearest competing market - Northern California at 59.1 MW. Further, the region is also set to achieve the fifth straight year of virtual market equilibrium as demand closely matches new supply coming online. However, JLL’s Outlook also notes “…some major cloud providers are anticipating they will need to triple infrastructure by 2020.” An indication that the industry in the region and in Prince William County will continue along its positive trajectory.