Data center boom is hot for Vertiv as cooling company earns billions

Westerville, Ohio-based Vertiv, an 80-year-old company specializing in cooling and energy distribution systems for data centers, has reported significant financial growth attributed to the rapid expansion of data centers across central Ohio. In its first-quarter 2026 earnings report, Vertiv announced $2.65 billion in sales, a 30% increase from the previous year, alongside substantial boosts in operating and adjusted operating profits and cash flows. Executive Chairman Dave Cote and CEO Giordano Albertazzi emphasized the company's competitive edge and ability to meet evolving data center needs at scale. The company, recently added to the S&P 500, plans to invest $50 million in its Westerville headquarters and Ironton manufacturing operations, creating 730 new jobs by 2029. Ohio Governor Mike DeWine announced the jobs on March 30, noting they would generate $26 million in new annual payroll through the Ohio Tax Credit Authority. Colliers, a Toronto-based firm, identified the Columbus area as a key market for data center development, which Vertiv aims to capitalize on through further capacity expansion. However, the article notes a significant shift in public sentiment in Ohio, with growing opposition to data centers despite their economic benefits. A recent survey by the Mid-Ohio Regional Planning Commission revealed that a majority of 2,000 respondents from 15 central Ohio counties favor slowing down data center development. This opposition has manifested in concrete actions, such as the Sunbury City Council enacting a moratorium on data center development until 2027. Furthermore, some Ohio residents are actively collecting signatures for a proposed constitutional amendment to block most data centers statewide, to be placed on the fall ballot.