Data storage is the fourth fastest-growing industry nationally (your mindless web surfing is creating jobs), and our region is certainly representin'—that's why we're holding our second annual Greater Philadelphia Data Center Boom event here on May 21 at The Rittenhouse. We even have the fundamentals to become a top-tier market, says PECO regional director of economic development Ed Piscopo.
Ed will deliver the event's opening remarks (in 2013, he rappelled down One Logan Square to raise money for Philly schools, so he knows how to make an entrance). Among the things he'll discus are PECO's new initiatives for data center development. Philly already leads the second tier of data markets because of its strategic location, he tells us, and PECO is working with all stakeholders in the industry to get us on NYC and DC’s level. All of the universities, hospitals, banks, and financial institutions within a 100-mile radius—and yes, Comcast—add up to hundreds of data players who are increasingly outsourcing their data to colo facilities but want those sites to stay local.
What makes a building good for storing data? (First, it can't be a gossip.) Dual service from utilities and available power and fiber capacity are ideal, Ed says. And it doesn't have to be a new building: at 401 North Broad St, owner Amerimar has pledged $70M in renovations and will be marketing 300k SF of vacant space for data center use. Amerimar is already ahead of the game here, having added carrier service to 1500 Spring Garden before selling last year.
It doesn’t have to be Center City, either: As part of its outreach, PECO is educating suburban municipalities about the benefits from data center growth. No surprise—most real estate experts agree that added tax revenue beats vacant space. The trick is that the competition is less visual than in other industries, says Ed, and often out of sight, like Vanguard’s inconspicuous 121k SF data facility in Northeast Philly. Want to learn how you can be part of this booming market, like last year's crowd (above)? Register for our event and find out.
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