Wednesday, Jan. 15, 2003
Bank One Plans To Locate Two Data Centers In Delaware
Dover – Bank One Corporation and Governor Ruth Ann Minner today announced that they are working on a deal for Bank One to construct two data centers in Delaware -- a total investment of $300 million -- to support the bank’s nationwide network.
Bank One will start construction of the state-of-the-art data centers this spring in Bear and on Governor Printz Boulevard just outside the Wilmington city limits if it can secure the necessary government approvals by the end of February. Bank One’s credit card division is headquartered in Wilmington and employs 2,500 people in the city. The new data centers would consolidate work currently done in Illinois, Ohio and Michigan.
“On the heels of announcements regarding Palmetto Management and Engineering and Allfirst, this is the third great economic development news we’ve had in a week and we have Bank One to thank for it,” Gov. Minner said. “I applaud and commend Bank One’s decision not only to utilize the Bear property it has owned for some time but to build a second center near Wilmington as well.”
Each data center will employ the latest in high-speed telecommunications, data storage and retrieval technology. The first center will be built on a 20-acre portion of the 152-acre parcel the bank owns adjacent to Routes 1, 7, and 40 in Bear.
The bank intends to locate the second data center on a 19-acre parcel owned by the City of Wilmington on Governor Printz Boulevard. The bank’s decision is also contingent on the state providing needed road improvements in the Route 7 and 40 corridors and on New Castle County’s Historic Review Board approving the state’s request to remove and relocate some unique art deco terra cotta tiles from the front of the building.
Gov. Minner made a personal visit to Bank One Chairman Jamie Dimon in Chicago last August and invited him to continue to build on the unique proactive banking environment available in Delaware.
Noting that each facility would cost approximately $150 million and would employ up to 50 highly skilled professionals, the Governor emphasized that Delaware was ready to provide both the physical and governmental infrastructure to allow this unprecedented investment to receive all necessary approvals quickly.
The company said it selected Delaware for the data centers due to:
• A highly developed web of fiber optic lines used to link the data centers to each other and to the bank’s external networks;
• Modern power grids which will guarantee reliable and competitively priced electricity for the center’s 24/7 operations;
• Delaware’s willingness to become a partner with the bank to help locate usable sites and to redefine and market the balance of its property in Bear.
In order to make this project successful, the Governor has committed to an immediate program of much-needed road improvements on Route 7 and at the intersection of Routes 7 and 40. Gov. Minner said DelDOT would embark on one of its “blitz” construction schedule in order to complete the improvements quickly.
Wilmington Mayor Jim Baker has endorsed the bank’s plan and has pledged their support and said he would help find a new home for the decorative tiles from the Governor Printz Boulevard site could be found, clearing the way for demolition of the remaining concrete block building. The building, which had been an Oldsmobile dealership for more than 50 years, has been vacant since 1992.
“We are pleased to move forward without delay on a project that is beneficial to citizens in the city, county and state and to an important business partner that is helping to grow the local economy,” Mayor Baker said today. “With an eye toward preserving the history associated with this site we are celebrating the start of a new era of business growth and opportunity on this land.”
Gov. Minner said she will ask the General Assembly for permission to acquire up to 50 acres of the Bear site for community open space. Together Bank One and the state will redesign and market the remaining land. The bank and the state will share any profits made on the sale of the remaining land.
Dimon said he appreciated the Governor’s involvement and commitment: “She’s a no-nonsense businessperson who understands what businesses need to grow and thrive. Together, we can continue to help Delaware’s economy prosper.”
Each facility will require high skilled craftspeople to design and construct the very sophisticated structures and support systems necessary to house the bank’s nationwide data centers. Bank One Corporation is the nation’s sixth-largest bank holding company, with assets of more than $270 billion. Bank One currently serves 53 million credit card customers, 7 million retail households, including 485,000 small businesses, and 20,000 middle market companies. It also manages $149 billion of clients’ investment assets.
“Jamie Dimon has given me his commitment to maintain the bank’s present long term employment goals for Delaware,” Gov. Minner said. “That’s a very significant promise and one that makes us proud that we are doing the right things for the bank, its employees, and the people of this State.”
