McDonnell Welcomes Northrop to Virginia

It’s official: a Fortune 100 company is moving its headquarters to Northern Virginia.

At a press conference at Northrop Grumman’s Rosslyn government affairs office, Governor Bob McDonnell and Northrop president and CEO Wes Bush formally announced the decision.

Bush said the company is in “final negotiations” with building owners in Arlington and Falls Church — both within Rep. Jim Moran’s eighth congressional district — and will announce a location within a month. The new headquarters will open by the summer of 2011.

“I’ve got to say, this is  certainly one of the most exciting days — and the best announcement — we’ve been able to make in a long time,” McDonnell said.

Bush said the decision to locate in Virginia largely came down to real estate and economics. The state offered an incentive package worth between $12 and $15 million to lure the company, which already employs 30,000 people in Virginia. Bush also cited the region’s proximity to its largest customer, the Pentagon.

In the end it was a “very close competition,” Bush said, adding that the mid-Atlantic “is a great region to do business.”

“This is a very exciting step for our company and we’re looking forward to being part of this community,” he said.

The headquarters will bring about 300 jobs with an average salary of $200,000 to the area, along with a number of support and contract jobs. Bush said the company is considering the possibility of relocating jobs from the Rosslyn office to the new headquarters.