Bloomberg L.P. announced it signed a lease with Russo Development and Sentinel Data Centers for a new 131,806-foot data center in Orangeburg Thursday.
"Bloomberg conducted a long and extensive search to find a location that meets all requirements for our latest data center, and this site in Orangetown checks all the boxes for us," said Bloomberg Global Head of Research and Development Vladimir Kliatchko. "We have partnered with an experienced data center developer in Russo/Sentinel and we are confident they will deliver a first-class facility."
The Orangetown Town Council passed a resolution May 14 authorizing Supervisor Andy Stewart to sign a 12-year PILOT (payment in lieu of taxes) deal for the property, which is located at 155 Corporate Drive in Orangeburg. The Pearl River School District Board of Education approved its part in the PILOT agreement at its meeting May 21. The facility is expected to bring increased tax revenue to the town and the school district as early as 2014.
"We are very pleased to welcome Bloomberg to Orangetown," Orangetown Supervisor Andy Stewart said. "Bloomberg's decision to locate here shows that Orangetown is back on track and able to work effectively with investors to meet our community's needs for appropriate development, jobs and a solid tax base."
The Rockland County Industrial Development Agency endorsed the deal Thursday, though approval by the County Executive's office is still pending.
"This is wonderful news for our county and exactly the kind of global firm which is perfect for Orangetown," said Harriet Cornell, Chair of the Rockland County Legislature. "Bloomberg L.P. looked at over 100 sites in New York and New Jersey before choosing this one. That tells you loud and clear that Orangetown is a prime location for data center development. Congratulations, Orangetown."
Russo Development first purchased the property in 2009. The data center is expected to be ready to open in the middle of 2014.
"We are pleased to have the opportunity to provide an optimal environment for Blomberg's innovative technologies," said Russo Development President and COO Edwards Russo. "This site provides ideal access to Manhattan, robust power sources, multiple telecommunication carriers, and opportunities for state and local tax incentives.
"Additionally, the town of Orangetown, led by Supervisor Andy Stewart, has been a great partner throughout this process. The town stand behind its commitment to economic growth."
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