Life Buys Georgia Data Center
Insurer will invest $100 million in 95,000 sf former BellSouth facility
May 5, 2002 -- -New York Life Insurance Company has acquired
a 95,000 square foot building in the Atlanta suburbs for its second
data center, the company said yesterday.
York Life did not disclose the price it paid for the former BellSouth
Entertainment property at 5965 Cabot Parkway in Alpharetta.
county officials said the company has been approved for $120 million
in bond financing through the Development Authority of Forsyth
County. New York Life will invest over $100 million on
the property within the next three years, according to local officials.
York Life is one of a number of financial firms that have been
actively seeking additional data center space outside Manhattan
and its immediate suburbs. The Depository Trust Corporation and
MasterCard have bought data centers, while the Bank of New York
just leased a former WorldCom facility in Somerset, NJ. .
The insurer said it plans to employ approximately 100
people initially, with additional hires expected to bring the
eventual employment to more than 140 as New York Life expands
"New York Life is delighted to have found an ideal location in
Forsyth County for the company's second Data Center, which will
complement our facility in Clinton, New Jersey," said Judy
Campbell, senior vice president and chief information officer
of New York Life.
"Best practices indicate that a company of our size should
have multiple data centers, and this site met a number of important
considerations for us," Campbell added. "We are very
grateful to the many county, state and local officials who worked
so hard to make this possible."
New York Life began its in the fall of 2002, an visited the Forsyth
County site in December. The company met with and negotiated with
Forsyth County leaders and officials over a four-month period,
with the Cumming-Forsyth County Chamber of Commerce coordinating
talks involving more than 20 area companies, agencies and stakeholders
in an effort to clinch the deal.
“There was a strong team working together to recruit New York
Life Insurance to our community and the State of Georgia,” said
Joni Owens, President & CEO, Cumming – Forsyth County Chamber
of Commerce. “We are very pleased to have this opportunity to
create badly needed jobs for our citizens and to create more opportunities
for new jobs as this company grows.”
York Life Insurance Company, a Fortune 100 company, is the
largest mutual life insurance company in the United States and
one of the largest life insurers in the world. Founded in 1845
and headquartered in New York City, New York Life and its affiliates
offer life insurance, annuities and long-term care insurance.