Move To Virginia Will Bring Company Leaders Closer To Federal Government, Key Customers

Northrop Grumman Corporation says it will be loading up the trucks and moving east ... to new corporate office in Virginia, concluding a search that also included the state of Maryland and the District of Columbia.

"We are pleased to have identified Virginia as the home for our new corporate office. Virginia, Maryland and the District put forward compelling, competitive offers. Our final decision was driven largely by facility considerations, proximity to our customers, and overall economics," said Wes Bush, chief executive officer and president. "We are very appreciative for the tremendous assistance we received from Governor O'Malley and the State of Maryland, Mayor Fenty and the District of Columbia, and Governor McDonnell and the Commonwealth of Virginia as well many local counties and municipalities."

Virginia reportedly spent $14-$16 million to lure the Northrop Grumman headquarters from the west coast.

Northrop Grumman is currently conducting negotiations with several building owners in the Falls Church/Arlington area, with a specific building selection to be announced soon. The company expects to initiate operations in the new corporate office in summer of 2011 with approximately 300 people. Northrop Grumman currently employs approximately 40,000 people in Maryland, Virginia and Washington, D.C. and is the largest industrial employer in both states.

"The foremost priority of our Administration is creating new jobs and getting our economy back on track," said Virginia Governor Bob McDonnell (pictured, right). "Today's announcement that Northrop Grumman, a Fortune 100 company, is moving to Virginia is a major step forward in this effort. Northrop Grumman and the Commonwealth of Virginia have long shared a close and positive working relationship. To gain the corporate headquarters of one of the largest defense and global security contractors in the world is a testament to the strong business climate that we are focused on continually improving. This Administration will keep taxes and regulations and litigation at a minimum to attract job creators from around the world to our state to ensure more new opportunities for all Virginians. I welcome Northrop Grumman to Virginia. I know the company will be a great corporate citizen and partner, and I thank Wes Bush and his team for their investment in the future of Virginia."

"We were fortunate to have so many great choices in this region, where Northrop Grumman has such an extensive business base," Bush said. "We are grateful to Senators Mark Warner and Jim Webb of Virginia, House Minority Whip Eric Cantor, Congressman Jim Moran, Senators Barbara Mikulski and Ben Cardin of Maryland, Majority Leader Steny Hoyer and the entire congressional delegations of both states for their strong and continued support of the defense industrial base and job creation that is critical to the economic success of the Mid-Atlantic region."

FMI: www.northropgrumman.com