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Possible tax break for Missouri companies that move operations underground

Friday, February 13, 2009 | 3:48 p.m. CST

JEFFERSON CITY — Hundreds of abandoned mines are carved into Missouri's deep limestone. Some lawmakers hope a tax break will fill some of that empty space with computers.

A tax incentive aimed at companies that put data centers in old mines is included in a large economic development bill rapidly moving through the legislature.

Under a version endorsed by a Senate committee this week, companies would pay no sales tax on utilities and equipment if they move to a refurbished mine with at least 500,000 square feet of developed space. The tax breaks would expire after 20 years.

Missouri is one of the leading states in the little-known underground storage industry, largely because of its 7,000 abandoned mines and a unique geological makeup.

 


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