• Free for qualified executives and consultants to industry

  • Receive quarterly issues of Area Development Magazine and special market report and directory issues


U.S. Bank Plans $250 Million Data Center In Chaska, Minnesota

U.S. Bank will build a $250 million, 56,000-square foot data center, in partnership with Dallas-based Stream Data Centers, in Chaska, Minnesota.

“Ensuring our customer information is securely managed and providing exceptional service delivery are among our highest priorities at U.S. Bank,” said Jeff von Gillern, Vice Chairman, Technology and Operations Services.

“We selected our home market for our new state-of-the-art technology center because the state of Minnesota shares our commitment to customer care and information protection. This new center will employ highly advanced and converged automated infrastructure for our digital and compute needs leveraging the use of both internal and external cloud services. Cost optimization, flexibility and rapid time to market are key operational tenants for us,” he added.

“Minnesota’s economy has always been driven by innovation and the great people who live and work here,” added Lt. Gov. Tina Smith. “This project will expand opportunities to more Minnesota families, while reinforcing our position as a leader in the 21st-century economy.”

The Minnesota Department of Employment and Economic Development is supporting the project with a grant of $287,000 from the Job Creation Fund. The company will receive the funding after meeting its investment and hiring commitments. U.S. Bank can also receive sales tax incentives under the state’s data center program.

Subject to Chaska City Council approvals, the company expects construction to begin this spring and to complete the project in early 2018. The city of Chaska plans to approve a tax abatement valued at nearly $548,000 over 20 years to support this project. In addition, the city is working with GREATER MSP and DEED to secure a $250,000 grant to support $1.13 million in infrastructure improvements at the electric substation that will supply reliable and cost effective power to the data center.

"Chaska is excited to be adding another data center to the community,” said Chaska Mayor Mark Windschitl. “We've worked hard to make Chaska a place where businesses want to be, and U.S. Bank's investment in the community is important to us. We look forward to the long-term relationship we will have with them."

“Minnesota’s data center industry supports hundreds of jobs statewide,” said DEED Commissioner Shawntera Hardy. “The U.S. Bank project is a major investment that will strengthen the state’s position as a leader in the data center sector.”

“The U.S. Bank decision to locate a data center in Chaska and make a $250 million capital investment is a testament to our region’s strength as a data centers hub – and will ultimately strengthen the economic vitality of our region,” added Michael Langley, CEO of the Minneapolis Saint Paul Regional Economic Development Partnership (GREATER MSP). “This investment is possible because of the long-term vision created by the state, city, and county to attract precisely these kinds of construction projects.”

Exclusive Research