“A bill working its way through the Iowa Legislature would provide tax incentives for a “Web search portal business” if that business invests at least $200 million in the state… In Council Bluffs, the Council Bluffs Industrial Foundation is assembling 180 acres of land north of Lake Manawa. The foundation, which is affiliated with the Council Bluffs Area Chamber of Commerce, will not say whether the land is for a Google project.
“No estimates were available for the amount of money that the company could receive from the incentives in the bill. The incentives involve sales, use and property tax exemptions for certain kinds of equipment and electricity.
“The City of Council Bluffs is considering offering up to $48 million in local property tax rebates over 20 years for whatever company builds on the land being assembled north of Lake Manawa. Those incentives would be in addition to the state incentives.
“Google announced earlier this year that it was building a $600 million data center in Lenoir, N.C., that would employ 210 people. State and local incentives for that project could be worth more than $260 million. The incentives include sales tax exemptions on electricity over 30 years.”
Omaha World Herald, April 19, 2007
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