Publicly-traded energy tech firm Opower is staying in Arlington, Gov. Terry McAuliffe (D) announced at a press conference this morning, marking some good news for a county beset by the departures of large government agencies.
McAuliffe and County Board Chair Libby Garvey were among those making the announcement at Opower’s current headquarters at 1515 N. Courthouse Road in Courthouse, which President Obama visited in 2010, when the company was still a startup.
Opower will be moving down the street to a new office building at 2311 Wilson Blvd in Courthouse. The building — already approved by the County Board — is set to be constructed over the next two years, replacing a row of restaurants. Developer Carr Properties had been calling the 8-story building the “Clean Technology Center,” which seems consistent with Opower’s sustainability and energy conservation mission.
Virginia and Arlington County had been fighting to keep Opower, which was being courted by the District and by The Wharf, the massive new development on the Southwest D.C. waterfront.
“Keeping Opower in Arlington County has been a high priority of my administration,” McAuliffe said. “This high-profile energy software company is growing rapidly and making a major impact on global challenges, and we are committed to further strengthening this important corporate partnership. The technology industry is booming in Virginia, and wins like this expansion help us continue to build on the momentum in this important sector.”
“Arlington has watched Opower grow from a startup venture to a thriving leader not only in the region, but in the entire clean technology industry,” Garvey said. “Arlington’s highly-educated workforce and easy transportation access were things Opower was looking for as the company continues to grow, and we look forward to continuing our partnership with them for a long time to come.”
McAuliffe helped arrange a $1 million grant from the Commonwealth’s Opportunity Fund to help Arlington keep Opower.
“Arlington County will match the state funding with a performance-based local economic development incentive grant,” the county notes in a press release. “Arlington will provide an additional annual performance grant through the remaining years of the lease term subject to job and occupancy requirements. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.”
Opower plans to invest about $10.5 million in its new, 63,000 square foot headquarters and expects to add 70 new employees within three years. The company will also retain 357 jobs that currently pay above the region’s prevailing wage.
“Opower has been with Arlington since the beginning,” said Victor Hoskins, Director of Arlington Economic Development. “The company is a model for the fast-growth technology companies we’re hoping to attract to Arlington, and we simply could not be more pleased that Opower has decided to continue to be a part of Arlington’s business community.”
The building at 2311 Wilson Blvd will have a total of 150,000 square feet of office space plus ground floor retail spaces when it’s completed.
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