CEB to invest $149.7 million in new headquarters, create 800 new jobs in Arlington
Updated: July 21, 2014 - 06:42 pm
- Rendering of the Central Place project in Rosslyn. (via JBG Cos.)
State and local officials announced Monday that CEB, formerly known as the Corporate Executive Board, will invest $149.7 million to move to a new location in Rosslyn after conducting a multi-state search for a new headquarters.
The new CEB building, currently under development as the Central Place office tower, will be re-named “CEB Tower" upon completion - which is projected to occur in 2018.
State officials approved $9.5 million in grants to secure the deal, contingent on the company meeting requirements for creating high-paying jobs.
Suzanne Clark, spokeswoman for the Virginia Economic Development Partnership, said the average annual salary of the new jobs anticipated in this deal is $122,000.
Arlington County is providing $4.5 million in infrastructure improvements.
CEB currently employs about 1,400 in Arlington, and expects to grow to about 2,200. The company moved to Rosslyn from D.C. six years ago.
"Virginia has proudly served as home to CEB since its move from the District in 2008. A new global headquarters and investment of this magnitude are tremendous testaments to the confidence the company has in Arlington County and the Commonwealth as it grows its presence internationally, and creates the workspace and technology for jobs of the 21st century,” said Gov. Terry McAuliffe.
ARLINGTON, Va. (WJLA) – Advisory company CEB is planning to invest $149. million in a new headquarters project that will create 800 new jobs in Rosslyn, Gov. Terry McAuliffe announced Monday.
The new CEB building, to be named “CEB Tower,” will cost $149.7 million.
"Virginia has proudly served as home to CEB since its move from the District in 2008. A new global headquarters and investment of this magnitude are tremendous testaments to the confidence the company has in Arlington County and the Commonwealth as it grows its presence internationally, and creates the workspace and technology for jobs of the 21st century,” said McAuliffe in a statement.
McAuliffe approved a $4.5 million grant from the Governor’s Opportunity Fund in order to help Arlington County pay for the project. An additional $5 million in funds from the Virginia Economic Development Grant (VEDIG) was also approved by McAuliffe for CEB.
Arlington County Board Chair Jay Fisette praised the move and what it will mean for Arlington County.
"CEB is exactly the type of business Arlington needs as we move forward as a leader in the innovation economy," said Fisette in a statement. "Today's announcement is a shining example of how the new initiatives we've implemented this year are increasing Arlington's economic competitiveness and ensuring our place as a leading community for technology businesses of the future."
CEB is expected to open their new headquarters in 2018.