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published in Blogs
Jan 22, 2023
Amazon's (AMZN, $97.25) cloud division to invest another $35 billion by 2040 in Virginia data centers

Amazon's (AMZN, $97.25) cloud division to invest another $35 billion by 2040 in Virginia data centers

Amazon.com Inc's cloud services segment Amazon Web Services (AWS) announced its plans to invest an additional $35 billion by 2040 towards expanding data centers in Virginia. According to AWS, the new investment will create 1,000 jobs.

Subject to approval by state lawmakers, Virginia is developing a new "Mega Data Center Incentive Program," which would allow the company to get up to a 15-year extension of Data Center Sales and Use tax exemptions on equipment and software. AWS also will be able to receive a state grant of up to $140 million for site and infrastructure improvements, development of workforce, and other project-related expenses.

In 2021, AWS mentioned that from 2011 to 2020 it had invested $35 billion in data centers in northern Virginia and had 3,500 people in full time employmentat its data centers in the state.

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