Iceland focuses on favorable business environment, including low corporate tax of only 20%, availability of land and green energy, and efficient business environment in an European legislative framework.
Industrial sites are available around Iceland at competitive cost and both the government and local communities offer incentives. As a member of the European Economic Area, Iceland has access to European Union research funds for R&D programs and joint ventures undertaken with companies from at least one other EEA country. Grants are issued for specific projects on a case-by-case basis by bodies including the New Business Venture Fund and Science Fund.
For the data center industry the climate, providing free ambient cooling all year round and access to abundant cold water, both fresh and from the sea, can be counted as an added bonus when reducing energy consumption and cutting cost.