FAIL (the browser should render some flash content, not this).

Blogs... Ford, Microsoft teaming up on new auto technology
City to weigh tax abatement for Microsoft
Ford teams up with Airstream, Microsoft
Hooked on Google.Microsoft in pursuit `full-speed ahead'
Local business sued by Microsoft - Among 30 others targeted in lawsuits
Microsoft forecasts bountiful Vista impact
Microsoft introduces Zune to compete with Apple's iPod
Microsoft plans showy consumer intro for Vista, Office software
Microsoft pushes entertainment - Upcoming Vista software to include Media Center interface and quick-start feature as hub for TV, stereo
Microsoft sets up battle with Apple
Microsoft settlement gives boost to schoolsHamilton County and other systems will be given vouchers for computer software
Microsoft sues Panhandle retailer
Microsoft Sync links digital music players and cellular smart phones to the dashboard controls
Microsoft touts benefits of Vista
Microsoft voltage to charge up robotics industry
Microsoft-HP marketing effort targets businesses
No more dusty shelves as British Library goes online with Microsoft
We'll beat Sony in the games game, says Microsoft
Why Ask.com's CEO left to join Microsoft

City to weigh tax abatement for Microsoft

To lure Microsoft's new data center here, the San Antonio City Council on Thursday will consider giving the technology giant a 10-year tax abatement and $5.2 million in incentives.

The 10-year tax abatement is on 44 acres in Charles Martin Wender's Westover Hills development at 5150 Rogers Road north of Wiseman Boulevard, according to documents supporting the plan on the council agenda.

A public hearing is scheduled for 10 a.m. in the City Council chambers to discuss creating the Westover Hills Reinvestment Zone and to discuss the Microsoft project.

Officials with the city and with Microsoft could not be reached Tuesday.

Microsoft is looking to build a 470,000-square-foot data center and invest more than $500 million. But it is creating only 75 jobs, so it normally would not qualify for a 10-year abatement. Annual salaries at the technology jobs would average $60,000 to $70,000.

The proposed data center is in a zone that allows only six-year abatements. A project qualifying for 10-year abatement must create more than 500 jobs and the investment must exceed $50 million, according to the city's guidelines. But because of the size and scope of the Microsoft project, the city's Economic Development Department is recommending approval. The 10-year abatement would be on real and personal property and be worth $20.7 million.

Even with the abatement, the Microsoft project is estimated to contribute $14.7 million in sales taxes, new property and utility payments during its first 10 years, according to Economic Development Department documents.

In addition to the tax abatement, the city is asking CPS Energy's board for approval of up to $5.2 million to help pay for electrical infrastructure for the project from CPS Energy's Community Infrastructure and Economic Development Fund. The fund has a balance of $24.4 million.

"San Antonio is competing with multiple sites across the country for this proposed project," according to an Economic Development Department statement recommending the project. "Thus, reduction in this incentive package may result in the project not coming to San Antonio with the resultant loss in the positive economic and fiscal impact to San Antonio."

The project would establish San Antonio as an attractive site for data centers, according to the Economic Development Department.

 

iopweb.net | DISCLAIMER NOTICE
This site is not afilliated with microsoft.com