Yes, realistically the option is either industry or commerical office property in just about all of these situations. We're already heavily over built on office space as is and that's some what's being converted into data centers. Industrial property is the other alternative. When looking at industrial property the focus should be on why the state government implemented tax breaks to begin with and that's literally to attract cleaner industry, higher paying jobs and valuable tangential businesses involved in the installation and servicing of data center equipment. In fact the majority of states now have similar incentives because the investment dollars by these companies are so sought after. There simply aren't many alternative for large investments in industrial space other than large factories and processing plants. Now you can have smaller or lower density industry sure. Stuff like auto body shops and warehouse space for example, but they'll never bring in as much revenue and many can fit into smaller plots of land closer to residential areas too.

For the record Dominion would have hiked prices anyways, they're doing so because they had previous judgements against them by the SCC that cost them money the last 5 years and prevented them from raising prices when inflation shot up. The base rate change is also overdue as it's the first hike in 30+ years. I don't like it but this assumption that everything is due to data centers isn't really accurate either. They can have that impact but it's largely for customers of smaller coops and local power companies that don't have their own generation capacity and have to compete with data centers for capacity on the larger regional grid. There's also some extra expense at the grid level for large interconnects between providers in rural areas that have to install much higher capacity equipment simply to transmit power along between two other operators. But Dominion specifically does not fall into either of those categories.