New Albany is gearing up to welcome another multinational technology company to its fast-growing Information Technology cluster. Google, one of the industry’s leading innovators, has acquired a 447-acre site in the New Albany International Business Park where it plans to invest $600 million to build a state-of-the-art data center. The 280,000-square-foot facility will be located on the west side of Beech Road, south of the State Route 161 interchange.

New Albany’s growing reputation as an ideal location for multinational data center operations is driven by a variety of assets, including reliable, redundant, triple feed electric capabilities, powered by AEP, and robust, high speed fiber optics.

AEP’s presence in New Albany, which includes a mission-critical facility for a 12-state region, data center and transmission headquarters, has also helped to fuel growth in the park’s Information Technology cluster. Ample space for expansion and the city’s ability to fast track permitting, development and construction timelines are also factors in its success.

The city’s incentive package includes a 100% real property tax abatement for 15 years and building and permitting fee waivers of up to $250,000. The project will generate a minimum of $750,000 in annual revenue for the city beginning in 2021.

The project is expected to create 50 direct and indirect jobs with a payroll of $4 million by 2023. Additionally, the city can expect to receive a projected annual injection of $32.5 million into the economy from construction, according to a 2017 U.S. Chamber of Commerce study of data centers.