Google receives $25m tax break

RENO, Nevada, Sept 17, (AP): Google will receive more than $25 million in tax breaks after pledging an additional $600 million for a new data center in southern Nevada, state officials said.

The company previously committed $600 million to the data center in the Las Vegas suburb of Henderson.

Google also said it would invest $600 million to build a data center at the Tahoe Reno Industrial Center in northern Nevada, bringing its total investment in the state to $1.8 billion, said Gov. Steve Sisolak. To date, the company has invested $300 million in the Reno facility.

Sisolak and seven members of the state Office of Economic Development board approved more than $25 million in tax breaks for the construction of the company’s Henderson data center. The facility is expected to open in 2021, the Reno Gazette-Journal reported.

“This is a very good deal for Nevada,” said Michael Brown, the director of the development board. “In return for the $25 million abatement that Google will receive, the company will make a $427 million impact on the economy over 20 years and generate $94 million in tax revenue over 20 years.”

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Also Thursday, the Japanese central bank left its interest rates unchanged and gave no indication about possible additional stimulus.

The Shanghai Composite Index lost 1% to 3,215.47 and the Nikkei 225 in Tokyo sank 0.7% to 23,321.33. The Hang Seng in Hong Kong retreated 1.6% to 24,327.67.

The Kospi in Seoul shed 1.4% to 2,399.96 while Sydney’s S&P-ASX 200 declined 1.1% to 5,889.80.

India’s Sensex opened down 0.2% at 39,210.14. New Zealand and Southeast Asia markets all retreated.