ROCKVILLE, MD—IT and cybersecurity solutions firm VariQ Corp. is receiving nearly $400,000 in incentives from the State of Maryland to expand its operations here.

The firm plans to relocate its existing Maryland headquarters in the county at 12300 Twinbrook Parkway to a larger, 26,000 square-foot space on Tower Oaks Boulevard in Rockville. According to the company's website, VariQ also maintains an office in Washington, DC at 2055 L St. NW.

The company, which currently employs 17 workers in Maryland, plans to add more than 250 positions in the state over the next five years. To assist with the expansion, the Maryland Department of Business and Economic Development has approved a $280,000 conditional loan through its Maryland Economic Development Assistance Authority and Fund program. Additionally, the Montgomery County Department of Economic Development (MCDED) is providing a $100,000 conditional grant through its Economic Development Fund.

“We are pleased to continue supporting the cyber efforts of Maryland-based companies as well as federal and local governments. We are excited for the opportunities ahead,” states Ben Edson, founder and CEO of VariQ. “We thank the Maryland Department of Business and Economic Development and the Montgomery County Department of Economic Development for their support toward our company's expansion.”

“VariQ has consistently ranked among the fastest-growing private companies in the country and we are proud to support their expansion here in Maryland,” says Maryland Gov. Larry Hogan. “Our administration is committed to making sure Maryland is truly open for business and partnering with innovative companies like VariQ demonstrates our state is a place where all businesses can grow and thrive.”

“VariQ's CEO Ben Edson and his team understand what it takes to grow a solid business in the crucial cybersecurity and IT sector,” adds Montgomery County Executive Isiah Leggett. “We're delighted to be a partner with the State of Maryland to assist in that growth, which further positions both the county and state as centers of the cybersecurity industry.”

In 2015, the company was awarded the Montgomery County Cybersecurity Company of the Year award by MCDED.

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