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Full text of Press release from Kaine's office
Governor Kaine Announces 250 New Jobs for Culpeper County
– New data center campus to open on 30-acre site –
RICHMOND – Governor Timothy M. Kaine today announced that Terremark Worldwide, Inc., a leading operator of integrated Internet exchanges and a global provider of managed Information Technology (IT) infrastructure solutions for government and private sectors, expects to invest approximately $270 million over the next 5-7 years to open a data center campus on a 30-acre site in Culpeper County. The project is expected to create 250 new jobs. Virginia successfully competed with New Jersey, North Carolina, and Pennsylvania for the project. Terremark operates an additional Virginia facility in Herndon.
Terremark has designed a master plan for the site that calls for five data center pods that can each yield approximately 50,000-square-feet of co-location space. Each data center pod will be a highly secured, stand-alone structure that will be able to house either commercial sector or federal government sector customers. The site, which is strategically located outside of the “blast zone”, will be designed to the strictest security standards mandated by the federal government, including significant perimeter set backs.
“Terremark’s new campus will be among the largest co-location data center sites in the United States,” said Governor Kaine. “High-tech expansions of this caliber are a focus of my administration, and 250 high-paying jobs will be a great asset to this region.”
Headquartered in Miami, Terremark Worldwide, Inc. (AMEX:TWW) delivers its portfolio of services from seven locations in the U.S., Europe and Latin America and from four service aggregation and distribution locations, which aggregate network traffic and distribute network-based services in Europe and Asia to meet specific customer needs.
“Terremark has been evaluating a number of locations for its new data center facility in this area,” said Manuel D. Medina, Chairman of Terremark Worldwide, Inc. “The Culpeper County site has great attributes and supports our long-term objectives to solidify our market leadership and expansion program, as well as meet our customers’ growing demands.”
The Virginia Economic Development Partnership (contact Christie Miller, 804.545.5805) worked with Culpeper County to secure the project for Virginia. Governor Kaine approved $1 million from the Governor’s Opportunity Fund to assist Culpeper County with the project. The Virginia Department of Business Assistance will provide training assistance through its Workforce Services Jobs Investment Program.
“This is an outstanding announcement for Virginia,” said Jeffrey M. Anderson, VEDP Executive Director. “Terremark’s data center campus in Culpeper County will be the largest new data center built in Virginia since the late 1990s. This is the kind of project that we are working to attract, and assembled a great team to make it happen.”
“We are extremely pleased that Terremark chose Culpeper as the site of its new data center campus,” John Coates, Chairman of the Culpeper County Board of Supervisors said. “The creation of so many high-paying jobs, the amount of private investment and the related spin-offs associated with this project will have a significant positive impact on this community for years to come. Equally important, Terremark’s presence will help put Culpeper on the map as one of the most sought-after locations for high tech, telecom and other knowledge based business.”
Text of press release from Terremark
Terremark to Acquire Site in Culpeper County, Virginia to Construct New Data Center Campus
Company Expects to Begin Building First Phase in June 2007
MIAMI, Jan 18, 2007 (BUSINESS WIRE) -- Terremark Worldwide, Inc. (AMEX:TWW) a leading operator of integrated Internet exchanges and a global provider of managed IT infrastructure solutions for government and private sectors, announced today that it has secured a 30-acre site in Culpeper County, Virginia to build a new state-of-the-art data center campus fulfilling the company's stated objective to expand in the Washington, D.C. area.
Terremark has designed a master plan for the site that will allow for modular growth of the campus based on customer demand. The master plan calls for five data center facilities that can each yield approximately 50,000 square feet of colocation space. Each facility would be a highly secured stand alone structure that could house either commercial or Federal government customers. The site, which is strategically located outside of the "blast zone", will be designed to the strictest security standards mandated by the Federal government, including significant perimeter set backs.
This site will be directly linked to Terremark's flagship facility the NAP of the Americas in Miami, providing customers with access to the full range of networks and services in that facility, including the commercial sector and Federal government Network Operations Centers (NOCs). The data center will feature state-of-the-art physical infrastructure consistent with Terremark's other Internet exchanges including high power density to meet the needs of the servers use by today's growing IP, video and other IT applications.
As previously disclosed, Terremark anticipates that the build-out of the first data center facility will require an initial investment of $55 million to $60 million. The timing of the investment in each additional data center facility will be based on additional customer demand.
The Company expects to fund the purchase price of $4.4 million with the proceeds of the interim financing announced last week. Pursuant to the interim financing, Credit Suisse has agreed to purchase the site in Culpeper and lease it back to Terremark. Terremark will have the option to purchase the property from Credit Suisse at the original purchase price plus accrued interest.
"Terremark has been evaluating a number of locations for its new data center facility in the Washington/Virginia area for some time," said Manuel D. Medina, Chairman of Terremark Worldwide, Inc. "The Culpeper County site has great attributes and supports our long-term objectives to solidify our market leadership and expansion program as well as meet our customers' growing demands."
In an official ceremony held today in Culpeper County, Virginia Governor Tim Kaine said, "Terremark's new campus will be among the largest colocation data center sites in the United States. High tech expansions of this caliber are a focus of my administration and the high-paying jobs it will generate will be a great asset to the region."
The company plans to break ground in June of 2007 and anticipates it will begin deploying customers during the June 2008 quarter.
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