A large, publicly traded company has landed in Arlington, noting the convenient location and nearby amenities of its new spot in Ballston.
Argan, Inc. — which pulled in $257 million in revenue in the third quarter of Fiscal Year 2025 — has relocated its headquarters to Two Liberty Center at 4075 Wilson Blvd.
The company, which specializes in construction and related services in the power industry, arrives amid uncertainty in federal spending that is driving renewed urgency in Arlington County’s quest to attract a range of private employers.
In a Monday press release, Argan CEO David Watson noted the D.C. area’s “dynamic and robust economy with a quality workforce.”
“We believe the location and layout will accommodate the company’s continued growth, improve recruitment and retention of employees, and facilitate greater collaboration and a more productive overall work environment,” he said.
Argan was previously located in Rockville, Md., where it was founded 22 years ago.
Watson told ARLnow that Arlington’s walkability, access to transportation hubs and placement in Northern Virginia also played a role in the decision to relocate. So did the county’s growing hub of publicly traded companies.
“When… our shareholders come by, a lot of the time they want to go visit multiple public companies,” he said. “It’s easier for them to go to AES down the road, and several other [companies], versus having to make a pilgrimage to Rockville.”
AES, another energy company located in Ballston, is one of six Fortune 1000 companies currently located in Arlington.
A total of 21 Arlington companies were also listed in the 2024 Inc. 5000 list, an annual ranking of high-growth private companies.
Arlington Economic Development doesn’t have a complete list of all publicly traded companies in Arlington, but it has been working for years to attract more.
As federal spending cuts are expected to bring headwinds for the entire D.C. area’s economy, AED has been bracing for impacts. It recently launched a new Tech Launchpad program, meant to attract more tech companies in particular.
County spokesperson Ryan Hudson told ARLnow that “Arlington is closely monitoring federal actions and their potential impact on the County’s economy and fiscal position.”
“We anticipate that sustained, significant reductions in employment and spending related to the federal government would adversely impact Arlington businesses and ultimately the County’s revenue base,” Hudson said.
Hudson said the diversification of Arlington’s economy made it a more secure spot for AED.
“Fortunately, Arlington is in a better position today than during previous drawdowns thanks to the ongoing diversification of Arlington’s economic base through the location and expansion of private sector businesses,” Hudson said, “many of which are not solely reliant on doing business with the federal government.”
