Microsoft, QTS Awarded Incentives to Build in Irving

Microsoft Corp. and QTS Realty Trust have been given the green light to develop a combined seven data centers in Irving, Texas. The City Council has doled out tax incentives to Microsoft as an incentive to build in the town. To get the incentives, the company has to agree to rent two buildings by the end of next year, and two more by 2026, occupy at least 500,000 square feet by the end of 2026 and accumulate at least $200 million of personal property. 

In return, Microsoft is eligible to receive a 50% property tax abatement if it meets all the stipulations of the agreement.

QTS is also eligible to receive a 50% property tax abatement to develop three data centers. The centers will total roughly 1 million square feet at locations on Longhorn Drive.

The incentives package requires the company to occupy at least 500,000 square feet by the end of 2028 and invest about $350 million into the property by January 2029 in exchange for a property tax rebate.