CHICAGO (CBS) — There’s a new farm in the West Loop, but it’s sprouting data banks instead of corn.

A company called Server Farm Realty has opened a Tier III data center up at 840 S. Clinton St., with help from Mayor Rahm Emanuel on the ribbon cutting on Tuesday.

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Server Farm Reality provides a building, power hookups, fire suppression and security systems where companies can install data terminals connected to the World Wide Web.

The mayor said it’s a huge deal for the city, because it marks a continuing move toward cementing Chicago’s position as a high tech center for the country.

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Server Farm Realty CEO Avner Papouchado said Chicago is ideally situated as a data center locus, because much of the nation’s fiber cable runs along railroad lines, and many of the nation’s railroad lines meet in Chicago.

Papouchado said electricity costs are lower in Chicago than on either coast, so his clients can get power at competitive prices.

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The server farm is in an 8-story, 450,000-square-foot building that once housed a General Electric factory. It promises 100% uninterruptable power.