GO
Loading...

Fidelity Investments to build center near Omaha

NELSON LAMPE, Associated Press
Friday, 12 Oct 2012 | 1:41 PM ET

OMAHA, Neb. -- Fidelity Investments has selected the Omaha suburb of Papillion for its new, $200 million data center, the company said Friday.

Boston-based Fidelity, one of the world's largest providers of financial services, expects to begin construction immediately and have the center running in 2014.

"We believe the site we've chosen will provide us with the flexibility to build to our specifications in a location that will accommodate our needs now and in the future," said Steve Scullen, president of corporate operations.

Fidelity has applied for Nebraska Advantage tax incentives and must meet requirements of at least 30 employees and a $200 million investment to receive them, according to Nebraska Economic Development Department spokeswoman Patty Wood.

If those requirements are met within seven years, Wood said, Fidelity will be eligible for a 10-year personal property tax exemption for the project, in addition to the benefits currently available for other such projects. Wood said she didn't have any numbers to indicate what that could total.

Fidelity spokeswoman Jenny Engle said the company will receive sales, property and real estate tax rebates and reductions if it meets the Nebraska requirements. She said later Friday that she couldn't provide any more information about the incentives.

Papillion agreed to waive $260,000 in sewer connection fees for Fidelity, city spokesman Darren Carlson said. And Sarpy County agreed to pick up the $2.9 million cost of paving 114th Street to improve access to the plant site on the western edge of Papillion.

Engle said Fidelity had looked at several sites around the country.

"We conducted an extensive search," she said from her office in Boston. "We were looking for geographic diversity in our data center portfolio."

Gov. Dave Heineman said in a news release that to have Fidelity Investments "utilize the Nebraska Advantage incentive helps us set the bar for other quality companies weighing location considerations for future data center projects."