‘Beaming’ at Bloomberg

PEARL RIVER, NY June 20, 2013 — Rockland civic and business leaders today welcomed Bloomberg L.P., the giant global financial media and information company, to the home of its new datacenter in Orangeburg with a beam-raising ceremony.

Pictured here at the beam-raising, from left, are: Richard Struck, O&R Director of Economic Development; Michael DiTullo, President and CEO of Rockland Economic Development Corp.; Alberto Goldberger, CFO for Research and Development for Bloomberg L.P.; C. Scott Vanderhoef, Rockland County Executive and Edwin Ortiz, O&R Vice President of Customer Service.

Bloomberg LP, founded by New York City Mayor Michael Bloomberg, will be investing more than $800 million in locating its new ‘mission critical’ datacenter here at 155 Corporate Drive. This project includes initial building fit-up, equipment purchases and a plan to retrofit their planned 131,800-square foot building several times over 15 years to insure peak performance of this world class datacenter.

The firm has signed a 15-year lease for the building being built by Russo Development, Inc. of Carlstadt, N.J. Russo built the New York Stock Exchange datacenter in Mahwah in 2008. The Bloomberg L.P. facility is scheduled to open in mid-2014.

Officials from Russo and Bloomberg both say that the key factors in choosing this site from among 100 evaluated were: the foresight of O&R to locate its electrical substation on Corporate Drive, the incentives offered by the Rockland County IDA and by O&R to locate here and the welcoming nature of the Town of Orangetown in providing timely permits for Russo to make the site ‘shovel ready’ in time to satisfy Bloomberg’s requirements.

The O&R Datacenter Action Response Team (DART) has worked with Russo Development for three years, and with Bloomberg LP for over four months, to address their needs for engineering guidance, rate information, economic development incentives, energy efficiency information and for their community relations needs. O&R also has worked closely with Town and County officials to coordinate its services in a unified and focused manner.

This important project will add 80 fulltime professional jobs, an unusually high number for a datacenter, in addition to 250 construction jobs to prepare and deliver the property. Including the impact of incentives, this project is estimated to provide $23 million in sales taxes and $80 million in income taxes through the term of the lease.

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