MicroStrategy renews headquarters lease in Fairfax County
Editor's note: This story has been updated.
MicroStrategy Inc., one of the most prominent headquarters operations at Tysons, has renewed its lease and plans to invest $6 million in capital improvements, adding 300 jobs.
Fairfax County successfully competed against Washington, D.C., to retain the headquarters, which provides 800 jobs.
In announcing the news Monday, Gov. Ralph Northam said, “Virginia is home to the strongest IT workforce in the nation, and the company will continue to benefit from our exceptional talent pool and technology infrastructure that continues to attract major corporate headquarters to Northern Virginia. We are proud of the Commonwealth's continued partnership with MicroStrategy, and thank the company for choosing Fairfax County and Virginia for this important expansion.”
MicroStrategy, a worldwide provider of enterprise analytics and mobility software, occupies more than 200,000 square feet at 1850 Towers Crescent Plaza where it has been located since 2010. The company has operated in the county since 1994. Under the new lease, the company plans to use its existing space to accommodate an increased headcount with new jobs expected in research and development, sales, marketing and services. With more than 4,000 customers across major industries, the company provides enterprises with software and services so they can deploy intelligence applications.
“For more than two decades, MicroStrategy has been one of Fairfax County’s most dynamic technology-based employers as a pioneer in the BI and analytics space, so I am delighted to thank the company for choosing to stay and grow here,” Gerald L. Gordon, president and CEO of the Fairfax County Economic Development Authority (FCEDA) said in a statement. “MicroStrategy is a prime example of the kind of company that can take advantage of the diversified technology ecosystem we have developed in Fairfax County and the tech-savvy workforce here.”
In his remarks, MicroStrategy CEO Michael J. Saylor said, “We have chosen Fairfax County, considered the East Coast center of technology innovation, for its proximity to the nation’s capital, a vibrant business community, access to several international airports and Metro’s Silver Line, and an incredibly diverse and highly educated workforce … We are delighted to be part of this dynamic and growing local community.”Newmark Knight Frank represented MicroStrategy in the lease transaction.
In addition to being a major employer in the county, the firm reported 2,216 employees worldwide at the end of 2017.
It has been an active corporate citizen in the community. MicroStrategy supports STEM for Her, a non-profit organization that empowers women and girls by providing scholarships and financial support to programs that foster interest in science, technology, engineering and math (STEM) related careers.
The FCEDA worked with the Virginia Economic Development Partnership to secure the project for Virginia. Northam approved a $1million grant from the Commonwealth’s Opportunity Fund to assist the county with the project. Funding and services to support the company’s employee training activities also will be provided through the Virginia Jobs Investment Program.