Ernst & Young LLP to invest approximately $12 million to expand operation in new location.
Richmond - Governor Terry McAuliffe announced today that Ernst & Young LLP (EY), one of the world’s leaders in professional services, will invest approximately $12 million to expand its operations in Fairfax County. The company will be the first major tenant at 1775 Tysons Boulevard in The Corporate Office Centre at Tysons II in Tysons, Virginia, relocating its office to a 125,000-square-foot premises that will accommodate its current requirements and plans for future growth. Virginia successfully competed against Maryland and Washington, D.C. for the project, which will create 462 new jobs paying above the prevailing average wage.
Speaking about today’s announcement, Governor McAuliffe said, “Growing Virginia’s professional and business services sector is a key element of our efforts to build a new Virginia Economy. Ernst & Young has been a valuable corporate partner, and I am pleased to announce this expansion and significant job creation in Fairfax County. This is great news for the county and the Commonwealth as a whole.”
“We welcome the expansion of a high-performing business like Ernst & Young,” said Secretary of Commerce and Trade Maurice Jones. “The company has thrived in Virginia’s premiere business climate, aided by a superb workforce, first-in-class infrastructure and a great quality of life. This is a great win for Fairfax County, and we look forward to years of growth through this partnership with the county and Ernst & Young.”
The global EY organization is a leader in assurance, tax, transaction and advisory services. The insights and quality services EY firms deliver help build trust and confidence in the capital markets and in economies the world over. EY develops outstanding leaders who team to deliver on their promises to all stakeholders. In so doing, EY plays a critical role in building a better working world for its people, for its clients and for its communities.
“Relocating to The Corporate Office Centre at Tysons II will provide us with an innovative and collaborative workspace that will enable our people to continue to thrive and provide exceptional client service,” said Kevin C. Virostek, Greater Washington Managing Partner of Ernst & Young LLP. “Creating a work environment that supports our people and fosters high performance teaming shows our continued commitment to the investment in our professionals and to the development of our future leaders.
The Virginia Economic Development Partnership (VEDP) worked with the Fairfax County Economic Development Authority (EDA) to secure the project for Virginia. Governor McAuliffe approved a $1.3 million grant from the Commonwealth’s Opportunity Fund to assist Fairfax County with the project. Additional funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program, administered by VEDP.
“We are elated that EY selected Fairfax County as the location for its expansion. We know that a company of this stature has many options in the region and beyond. Ernst and Young is renowned as a progressive company and has been an extremely good corporate citizen in the county,” said Gerald L. Gordon, Ph.D., president and CEO of the Fairfax County Economic Development Authority. “As EY continues its expansion, adding great jobs to the Fairfax County economy, it also will further accelerate the evolution of Tysons Corner as a major center of business.”
"The decision by Ernst & Young to move into The Corporate Office Centre at Tysons II is another example of Virginia remaining a business-friendly jurisdiction that continues to attract good jobs,” said Delegate Mark Keam. “It's also an important step toward making Tysons America's Next Great City. I congratulate and thank the EY leadership, Governor McAuliffe and the staff of state and county economic development offices for making this transition possible."
Since the beginning of the McAuliffe administration, 440 economic development deals have been closed in Virginia with more than $7.7 billion in capital investment, which is more than twice the amount of capital investment brought to the Commonwealth by the previous two governors in the first 18 months in office.