A new video that outlines the strategic benefits of Kruonis PSP Industrial Park has been released by Invest Lithuania, a semi-state investment promotion agency. The video explains why Kruonis is an excellent location for establishing international data centers, encouraging major global investors to set up in the industrial park.
With its 185 acres of ready-to-build greenfield land located within a Free Economic Zone (FEZ), Kruonis represents an excellent location for dynamic growth and development. The amount of land available means projects will not be limited in terms of space, whilst the generous tax incentives on offer will help investors maximize growth.
In terms of location, Kruonis PSP Industrial Park offers both convenience and security. Situated within an hour’s drive of Lithuania’s two largest cities and their major international airports, Kruonis is ideally situated for internationally-oriented businesses. The site is next to the 900MW Kruonis Hydro Pumped Storage Power Plant, which is a well-secured national strategic asset. This means Kruonis offers the highest level of safety and the best possible infrastructure across the whole site. Furthermore, connections to a high-voltage network are available, enabling data centers to meet the highest security requirements for electricity supply.
Kruonis’ location also enables excellent cost-competitiveness. Electricity prices on site are set at exclusively low rates 40% below the national average. Furthermore, Lithuania’s Nordic climatic is ideal for driving down cooling costs.
Invest Lithuania’s new video aims to raise awareness of Krounis’ advantages amongst major international investors, with the ultimate goal of encouraging them to establish a high-level, high-security data center in Lithuania.
The establishment of such a center would bring numerous advantages to the local economy. Business revenues would increase thanks to the construction of the center and the installation of infrastructure, along with electricity consumption costs. Additionally, large data centers usually attract more investment into a region. Such an investment would put Lithuania on the map as a new hub for IT investments comparable to countries like Sweden, Denmark and Norway.
One of the best examples of how a new data center can change the profile of a region is the Facebook data center established in Lulea, Sweden in 2013. In the first 10 months following the center’s creation, the number of companies in the Lulea Science Park increased by 25%. This growth has created more than 3,000 new jobs in local Swedish IT companies, and TeliaSonera has recently announced that it will establish its central office there.
New investments and job opportunities are some of the benefits new data centers bring to a country. In the case of Sweden, the Facebook data center project has significantly raised the country’s visibility and helped to attract additional investments. It has also led to improvements in the region’s infrastructure and population increases in cities closest to the data centre.
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