Governor McDonnell Announces GeoEye, Inc. to Expand Corporate Headquarters in Virginia

RICHMOND - Governor Bob McDonnell announced today that GeoEye, Inc., a premier provider of superior satellite and aerial geospatial information and services, will invest $10 million to move its corporate headquarters to the Dulles Corner Office Center in Fairfax County. The company will create 100 new jobs over the next three years and relocate its 230 Virginia-based employees to the expanded corporate headquarters facility in the first few months of 2011. Virginia successfully competed against Colorado and Maryland for the project.

Speaking about today's announcement, Governor McDonnell remarked, "GeoEye joins other major companies who have recently decided to make Virginia home to their corporate headquarters. GeoEye is a high-technology company that provides vital satellite imagery and geospatial intelligence products used by a wide range of government, public safety, and commercial clients for applications in mapping, intelligence, agriculture, forestry management, oil and gas, mining, infrastructure and many other industries. The company's new, larger headquarters in Fairfax County allows room for the company's future growth, as well as continued access to the heart of a technology community."

Lieutenant Governor Bill Bolling also commented, "I am very pleased that GeoEye has agreed to locate its expanded corporate headquarters in Fairfax County. GeoEye fits nicely into the Commonwealth's strategy of making our state a great place for technology based companies. Northern Virginia is particularly strong when it comes to supporting the technology industry. It will compliment the strengths that Northern Virginia has become known for in the technology sector."

Secretary of Commerce and Trade Jim Cheng noted, "Fairfax County will provide GeoEye with a fresh, well-educated labor pool. The company outgrew its former facilities and, in moving its corporate headquarters to Fairfax, has found a space that is more flexible for the future infrastructure growth of the company."

GeoEye, Inc. is a leading international information services company serving government and commercial markets. The company is recognized as one of the geospatial industry's imagery experts, delivering exceptional quality imagery products, services and solutions to customers around the world. In August, GeoEye was named one of Fortune Magazine's "100 Fastest-Growing Companies" in the United States. The company has more than 500 employees dedicated to developing best-in-class geospatial information products and services. GeoEye is a public company listed on the NASDAQ stock exchange under the symbol GEOY. The company provides support to academic institutions and non-governmental organizations through the GeoEye Foundation (www.geoeyefoundation.org).

Matt O'Connell, GeoEye's chief executive officer and president, said, "GeoEye has experienced tremendous growth over the past 13 years; our satellite imagery business helped fuel our 84-percent revenue growth from fiscal 2008 to 2009. This move reflects the continuing growth of our company, and it is an important strategic step toward reinforcing our position as a premier provider of satellite and aerial geospatial information technology and services. Our new headquarters will inspire our current and future employees, it will provide a showcase of GeoEye's innovative, exciting technology for our customers, and it will allow us to improve service for our key customers in the Washington, D.C. area, particularly the National Geospatial-Intelligence Agency."

The Virginia Economic Development Partnership worked with the Fairfax County Economic Development Authority to secure the project for Virginia. Governor McDonnell approved an $84,000 grant from the Governor's Opportunity Fund to assist Fairfax County with the project. The Virginia Department of Business Assistance will provide training assistance through the Virginia Jobs Investment Program.

"We are delighted that GeoEye will be moving to the county," said Gerald L. Gordon, Ph.D., president and CEO of the Fairfax County Economic Development Authority. "This company and its aerial geospatial technology are a perfect fit with the companies that call Fairfax County home."