RICHMOND - Governor Mark R. Warner today announced that Corporate Executive Board, which provides best practices research, decision-support tools, and executive education to a membership of the world’s leading corporations and not-for-profit institutions, has signed a lease on a 611,000-square-foot office facility to be built in Rosslyn, Arlington County. The project will result in a $227 million investment and about 2,500 new job opportunities with an estimated average annual salary of $70,000.
“Corporate Executive Board is a progressive organization with an unparalleled reputation as a superior resource to corporations worldwide,” said Governor Warner. “The company chose Virginia and this great new location in Rosslyn, but it’s a win for the entire region because of our skilled and innovative workforce.”
Governor Warner and Secretary of Commerce and Trade Michael J. Schewel had discussions with company officials during the negotiation process. The JBG Companies will build the facility with an expected occupancy date of first quarter 2008.
Jay McGonigle, Chairman and CEO of the Corporate Executive Board, said “As a high-growth company, long-term space planning is always a challenge. With this project, we have ensured that we have access to adequate growth space, and we are delighted that it allows us to make a long term commitment to the Washington, D.C. region.”
The Virginia Economic Development Partnership prepared the state’s proposal and negotiated an incentive package to secure the project for Virginia. Governor Warner approved a $1 million grant from the Governor’s Opportunity Fund to assist Arlington County with the project. The company qualifies for a Major Business Facility jobs tax credit. Arlington County also was instrumental in assisting Corporate Executive Board with its decision. The Virginia Department of Business Assistance will provide training assistance for employees through its Workforce Services Program.
“Arlington worked very hard to make this deal happen,” said Arlington County Board of Supervisors Chairwoman Barbara Favola. “It’s a major win for the County, from both a business and a development perspective. The Waterview building is one of the most exciting projects to happen in the Washington, D.C., region in a long time, and firmly solidifies Arlington as the premier place for businesses to locate in the region.”