VA: CEB to Invest $149.7M for New HQ in Arlington County, Hiring 800
23 Jul, 2014
Governor Terry McAuliffe announced CEB, the leading member-based advisory company, will invest $149.7 million in a new headquarters operation to support the company’s next-generation workplace plans and accommodate its growing global requirements. The company has signed an Agreement to lease approximately 350,000 square feet of space in The JBG Companies’ new Central Place development in Rosslyn, Virginia. CEB will be the marquee tenant in the building to be named “CEB Tower.” CEB plans to move to its new global headquarters in 2018. The project will create 800 new jobs.
Speaking about the announcement, Governor McAuliffe said, “Virginia has proudly served as home to CEB since its move from the District in 2008. A new global headquarters and investment of this magnitude are tremendous testaments to the confidence the company has in Arlington County and the Commonwealth as it grows its presence internationally, and creates the workspace and technology for jobs of the 21st century. As Governor, I am committed to bringing projects like these to Virginia—those that create high-paying jobs and will help to diversify and protect the Virginia economy from federal budget cuts. We celebrate this impressive global headquarters operation and 800 new jobs, and look forward to CEB’s continued success in Virginia for years to come.”
“CEB’s cutting-edge new headquarters in CEB Tower will accommodate the company’s expanding global requirements and provide room to continue its positive growth trajectory into the future,” said Maurice Jones, Virginia Secretary of Commerce and Trade. “This tremendous project ensures the company’s long-term commitment to the Commonwealth, and Virginia is proud to boast CEB on its roster of corporate headquarters.”
CEB equips more than 10,000 organizations around the globe with insights, tools, and actionable solutions to transform enterprise performance. By combining advanced research and analytics with best practices from member companies, CEB helps leaders realize outsized returns by more effectively managing talent, information, customers, and risk. Member companies include nearly 90% of the Fortune 500, more than 75% of the Dow Jones Asian Titans, and 85% of the FTSE 100.
“Virginia has a vision for economic development and they are committed to working with companies to bring it to fruition,” said Tom Monahan, CEB Chairman & CEO. “This Agreement simply would not have been possible without the exceptional partnership of the Commonwealth and Arlington County. The Governor’s office and our local government representatives clearly demonstrated why Virginia is a great state for business. Under their leadership, we are confident in Arlington’s future as a business hub and thrilled to be a landmark business in—and significant economic contributor to—the Rosslyn community.”
The Virginia Economic Development Partnership worked with Arlington County to help secure the project for Virginia. Governor McAuliffe approved a $4.5 million grant from the Governor’s Opportunity Fund to assist Arlington County with the project. The Governor also approved $5 million in funds from the Virginia Economic Development Incentive Grant (VEDIG). VEDIG was established as a self-funded program of performance-based incentives that the Commonwealth awards to exceptional economic development projects with large numbers of employees and very high wages relative to average wages for that particular area. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.
“CEB is exactly the type of business Arlington needs as we move forward as a leader in the innovation economy,” said Arlington County Board Chair Jay Fisette. “Today’s announcement is a shining example of how the new initiatives we’ve implemented this year are increasing Arlington’s economic competitiveness and ensuring our place as a leading community for technology businesses of the future.”