Perkins Board Approves Economic Development Plan For Former KBI Site

The Perkins Local School District Board of Education on Thursday, November 16, adopted an economic development agreement with Perkins Township and the developers of the former KBI property at Hayes and Perkins avenues.

The Perkins Township trustees on Tuesday, November 14, approved the economic development agreement to catalyze a transformative project at the former KBI site. The site was purchased earlier this year by Aligned Data Centers for $52 Million, a Texas-based technology company, specializing in building and operating cloud-based storage facilities. The company currently owns and operates facilities throughout the country, with locations in six states. 

Aligned Data Centers has proposed the following project at the Hayes Avenue site as part of the economic development agreement: 

• Up to four total data centers, each over 500,000 square feet, with a total project footprint of 2 million square feet 
• Capital investment up to $500 million
• Creation of new jobs at the site, potential for synergistic new company investment, and expanded employment in related regional services
• The company anticipates a construction start date of early 2024 with the first data center being operational with 12 to 24 months. 

The project is being constructed in what's known as a Tax Increment Financing district, an economic development tool widely utilized in Ohio. Within a TIF, a portion of the company's property taxes are usd to help fund various aspects of the project including public and private improvements. Unlike a tax abatement, the company still pays the same amount it would otherwise, but te funds can be used to help offset project costs. 

For the first phase, 30 percent of the new taxes created by the project will be split by Perkins Township and Perkins Local Schools, with the remaining 70 percent being used to help fund various aspects of the project. The district estimates Phase 1 to create nearly $500,000 in new tax revenue for the district, which can be utilized for operating expenditures and capital needs.