Virginia Gov. Timothy Kaine made the announcement, after the state beat out Maryland and DC for the deal. The project will eventually create about 100 new jobs for Raytheon's Virginia operations, according to his office. "Raytheon Co. is an important employer in the Commonwealth," Kaine says in a prepared statement. "The location the company has selected in Loudoun County is an existing campus with room for expansion."
The incentive package the state offered included a $500,000 grant from the Governor's Opportunity Fund to assist Loudoun County with improving and upgrading the Route 28 technology corridor project. Also, the Virginia Department of Business Assistance promised training assistance through the Virginia Jobs Investment Program.
Raytheon's Loudoun County facility will house portions of both Raytheon Technical Services Co. and Raytheon's Intelligence and Information Systems business unit. AOL's Pacific Corporate Park is located at Route 28 and Waxpool Road. CBRE's Cathy Delcoco, Rob Faktorow, Terry Reiley and Vicki Salamon represented AOL.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
