Regional development official notes surge in data center inquiries
A regional economic development official, Michael McGiffin of Lake to River, warned local leaders in Trumbull County, Ohio, about a surge in data center inquiries and potential changes to the development landscape over the next decade. He highlighted the importance of communities engaging with data center developers now, as future incentives may diminish and moratoriums could negatively impact investment. McGiffin advised against moratoriums, citing negative impacts on projects in other communities.
Michael McGiffin, Vice President of Engagement and Investor Relations for Lake to River, addressed the Trumbull County Council of Governments in Howland, Ohio, regarding the evolving landscape of data center development. He noted a significant increase in data center inquiries to Lake to River, a departure from two years prior when there were none.
McGiffin explained the state's economic development shift from the Ohio Department of Development to JobsOhio in 2011, emphasizing the need for a private entity to attract businesses without public record exposure. He warned local leaders that communities have a seven- to ten-year window to benefit from data center developments before developers might stop offering incentives as supply catches up with demand.
He specifically cautioned against enacting moratoriums or introducing zoning changes, stating that such actions could deter potential data center projects by creating perceived instability. McGiffin cited instances where other communities' moratoriums impacted related projects, underscoring the potential negative consequences for economic growth in the region.