At work and at home, we are creating, analyzing and sharing more and more data at faster and faster speeds. Headed into 2021, new storage centers are in high demand.
Data Creates Demand for Brick and Mortar Construction
Cloud-based services, remote work trends, online shopping, and corporate use of increasingly sophisticated data analytics are all on the rise. Though we tend to think of data as invisible, it demands space. More data—more space! That’s why the need for facilities to appropriately store and maintain data is rapidly rising. As The New York Times reports:
Silicon Valley might have the reputation as the shiny place where the future happens, but real estate professionals say data centers are being built all around the country. Most are on the outskirts of major metro areas including Atlanta, Chicago, Dallas-Fort Worth, New York and Phoenix.
A key criterion in site selection is proximity to the clusters of undersea cables that send and receive data from all over the world. In the United States, the cloud’s Grand Central Terminal is Northern Virginia.
Data centers typically are new construction, given the challenges with retrofitting a building to meet requirements, such as raising the floor above the foundation and running powerful cooling systems to keep the hardware from overheating.
The generators and cooling components are built to allow repairs while they continue to operate, and they consume a lot of energy. Because data centers work around the clock, they need ready access to cheap, reliable power.
Ready for 2021?
Data storage is yet one more example of the critical need for construction widely projected for 2021. Let Colonial Surety Company help you prepare to build more in the new year with a surety line of credit. It is quick and easy to pre-qualify. Do it today—and boost your confidence headed into a new year of action.
Enter just a few, bare essentials about your business in Colonial’s snappy online system and your company will receive, for free, Dun & Bradstreet scores. Use this financial intel to help you plan for 2021.
Contractors who pre-qualify for a surety line of credit, go on to upload a few more documents that help Colonial better understand their operation and underwrite the Partnership Account®. The entire process exemplifies Colonial’s commitment to busy contractors: simple, direct, and efficient, with value added services built right in.
Selecting Data Center Building Sites—and Partners
Because data centers consume so much power, site selection is a critical deciding factor in where they are built. Of course, the cost of land and taxes matter too:
Building a facility can create as many as 1,000 temporary jobs. Completed data centers do not require large labor forces, but the jobs are generally high paying, so cities and states compete fiercely for these developments by offering tax incentives.
Increasingly, large storage providers, such as Equinix are constructing centers that can be leased out, enabling multiple companies to store data under one roof. It’s anticipated that the rollout of 5G networks is going to create even more demand for data storage going forward.
Meet the demand for growth in 2021 with a Partnership Account® from Colonial Surety Company. As a leading, national provider of surety bonds, Colonial has unveiled a full-service solution to arm contractors with fast, digital and direct access to surety bonds—and real time financial intel vital for growth. With a Colonial Partnership Account® contractors:
- Gain control of their bidding and bonding, online and in real time.
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- Speak directly with Colonial’s lead underwriter as new opportunities emerge.
- Leverage data on a private Owner’s Dashboard to view surety lines, adjust work on hand, analyze bids—and grow.
Founded in 1930, Colonial Surety Company is a direct seller and writer of surety bonds and insurance products for a wide range of industries and professions. The Partnership Account® reflects a Colonial priority: providing value-added services to busy contractors. Colonial is rated “A Excellent” by A.M. Best Company, U.S. Treasury listed, and licensed for business everywhere in the USA!