LIQUID WEB RENOVATIONS SOLIDIFY LONG-TERM LANSING AREA PRESENCE
In a move made possible by a bond authorization approval by the Michigan Strategic Fund, (MSF), one of the state’s largest employers of web hosting services for a range of international businesses plans to renovate its Delta Township data center.
The chief improvements to Liquid Web’s facility will include the purchase and installation of energy-efficient enhancements to its temperature control system.
Liquid Web has been further situated as a global leader in customized web solutions consisting of dedicated servers, cloud hosting and e-commerce support. The Lansing-area provider has more than 600 employees — most are in Michigan. Its services reach more than 32,000 customers located in more than 130 countries.
“LEAP, MEDC and Delta Township spent a lot of time and energy over the last two years trying to resolve issues for Liquid Web that make it more likely that they will select us in the future for retention and expansion of great IT jobs, rather than the southern United States,” said Bob Trezise, president and CEO at the Lansing Economic Area Partnership (LEAP).
The terms include the issuance of a $4 million private-activity taxable bond to Hilltop Properties, where Liquid Web leases their facility from. “With the bond support, Liquid Web can plan on a long-term presence in the region,” said Jeff Mason, CEO at the Michigan Economic Development Corporation, which conducts due diligence ad administers programs funded by the MSF. Mason added that the decision is another significant boost to the state’s IT industry.
The bond funding is administered through MEDC’s Capital Access team, which facilitates lending support for the small business community and provides administrative support for the inducement and issuance of bonds. The $4 million in bonds will be funded through sales to private institutional investors.