Fairfax County Economic Development Authority Business News – June 16

Proud to recognize Northern Virginia

Northern Virginia is one of five communities across the country named to the Great American Defense Communities Class of 2022. The Association of Defense Communities announced the selected communities at the National Defense Communities Summit this spring. Northern Virginia is home to Joint Base Myer-Henderson Hall, Fort Belvoir, and Marine Corps Base Quantico. “Our military needs the American defense communities to support them,” said Bob Ross, president of the association. “We are proud to recognize Northern Virginia as a region that goes above and beyond to support service members, veterans, and their families.” The Great American Defense Communities program was launched in 2016 to recognize and celebrate communities and regions that support military installations for their outstanding commitment to improving the lives of service members, veterans and their families. InsideNoVa has more. Click here to watch the video announcement.

Huge economic potential

India’s Ambassador to the United States, Taranjit Singh Sandhu, spoke at a reception at the Indian Embassy in Washington, D.C. last week, held for a business delegation representing the county of Fairfax. The FCEDA has a close relationship with India, having maintained offices in India since 2004. Among those who attended the reception were Virginia Commerce and Trade Secretary Caren Merrick; Agriculture and Forestry Secretary Matthew Lohr; FCEDA President and CEO Victor Hoskins; and vice president of international trade for the Virginia Economic Development Partnership, Stephanie Agee. It has been a “memorable year” for India-US trade and economic relations, Ambassador Sandu said at the reception. With 200 Indian companies present in the United States and more than 2,000 American companies in India, the potential for economic partnership between our countries is enormous,” said Ambassador Sandhu. Tribune India has more.

Imposing tenants

Meridian Group and Rockefeller Group, developers of the Boro Tower in Tysons, this month signed five companies to join the ranks of the office building, Commercial Observer reported. Located at 8350 Broad Street, the 440,000 square foot tower is part of The Boro, a mixed-use development that includes offices, residences, retail, entertainment and green spaces. In the largest of the leases, software company NetApp signed 24,057 square feet. Additionally, commercial real estate services giant CBRE leased 24,108 square feet; Lukas, LaFuria, Lantor & Sachs, a telecommunications law firm, took 6,425 square feet; MongoDB, a technology company, signed 5,130 square feet; and Cboe Vest, an investment management company, leased 2,314 square feet. Along with the new leases, HII’s Mission Technology Division has expanded its presence in the Boro Tower, adding 3,942 square feet to its space. The 20-story building is now 96% leased, with 20,000 square feet of office space remaining.

And more Boro news

The Boro, a central neighborhood in Tysons’ reimagining of a walkable, transit-oriented development, received approval in May from the Fairfax County Board of Supervisors and Planning Commission to expand, reported the Washington Post. This final phase of the development plan adds approximately 610,000 square feet of residential development to the area and consists of three buildings with 543 residential units at market price and labor. The development is a joint venture of Meridian Group, a real estate investment and development company, and Akridge, a commercial real estate company and investor and developer in the DC area.

Move people forward

Tysons-based Maximus has pledged more than $2 million in grants to help nonprofits and humanitarian causes in the United States for its 2022 annual giving initiative. Offered through the Charitable Foundation Maximus, the donations are expected to reach 167 different organizations and are designed to provide assistance to the three areas of need identified in this year’s efforts: community development, youth development and health services. Bruce Caswell, CEO and chairman of Maximus, said the company renamed its slogan to “Moving People Forward” to emphasize the company’s dedication to bringing about positive change, ExecutiveGov reported.

Moving forward with more development

Pennsylvania Real Estate Investment Trust, which recently reached an agreement to sell part of downtown Springfield to a hotel developer, plans to remain focused on leasing and license other parts of the 76-acre campus near the Franconia-Springfield subway station, according to the Washington Business Journal. While the mall is anchored by national tenants including JCPenney, Macy’s and Nordstrom Rack, PREIT CEO Joe Coradino said he’s considering remodeling the property into something more like its downtown title. city, with a greater diversity of uses. The introduction of additional components, including the planned Lego Discovery Center and seven-story hotel, will help achieve this goal, he said.

Single incubator

Parsons Corporation, based in Centreville, announced the opening of an innovation lab focused on the rapid development and delivery of operational technologies to the Department of Defense, intelligence community and federal civilian markets in an experimental environment. open: the PALADIN Lab. “This unique incubator aligns with Parsons’ goal of pushing the boundaries of innovation and technology development to make our customers’ missions faster, safer and more successful,” said Ricardo Lorenzo, CTO of Parsons. . Intelligence Community News has more.

Continued Investments in Northern Virginia

Boeing is partnering with the Commonwealth of Virginia to establish a new workforce development and education center for veterans and their families on the Virginia Tech campus in Potomac Yard, the company announced Monday. . Boeing, which last month made public plans to move its world headquarters from Chicago to Arlington, is digging deeper into the region with the new Boeing Center for Veteran Transition & Military Families. “This initiative will unlock new career opportunities for veterans and their families and help develop cutting-edge technical talent while confirming our continued investment in Northern Virginia,” said Boeing President and CEO Dave Calhoun. , in a press release. The Washington Business Journal has more.

Ribbon cutting

The soon-to-open Tysons cafe, Mrs. Jo’s Petite Eats, recently celebrated a grand opening event at its location on the ground floor of the PenFed Credit Union headquarters at 7940 Jones Branch Drive. Owned and managed by veteran U.S. Army chef Erinn Roth, the approximately 2,800 square foot cafe will serve as the cafeteria for the building, which also houses consulting firm LMI, and is open to the general public. PenFed invested approximately $500,000 to build the cafe through its PenFed Foundation’s Veteran Entrepreneur Investment Program. FFXnow reveals more about the event and Roth’s journey from military retirement to chef and café owner.

About Fairfax County
Economic Development Authority

The Fairfax County Economic Development Authority (FCEDA) promotes Fairfax County, Virginia as a center for business and technology. FCEDA offers site location and business development assistance, as well as relationships with county and state government agencies, to help businesses locate and grow in Fairfax County. .

Want to learn more about FCEDA services or how economic development helps Fairfax County? Visit the FCEDA website or email info@fceda.org.

Fairfax County: “One of the great economic success stories of our time” — TIME