Raytheon lease second largest in nation

By Jason Jacks
Source: Loudoun Times-Mirror
WEDNESDAY, APRIL 1 2009
UPDATED TUESDAY, APRIL 7 2009


The call came in December to Loudoun Economic Development officials. Raytheon Co., a large government contractor with offices peppering Northern Virginia, needed office space, and a lot of it.
“And they weren't even looking for financial incentives,” said Steve Hargan, with Loudoun's Department of Economic Development. “They had concerns about traffic and accessibility ... but the AOL campus met virtually all their requirements.”

On April 1, Gov. Tim Kaine (D) announced that Raytheon, which employs 4,000 people in Virginia, would consolidate most of its Northern Virginia operations into 600,000-square-feet of space in Ashburn.

Commercial real-estate information company CoStar reported the deal is the second largest lease signed in the country this year. The space is also five times larger than the space Hilton Hotels recently secured in Tysons Corner.

Raytheon will occupy space in four buildings at AOL’s Pacific Corporate Park near Route 28 and Waxpool Road.

The facility will house portions of the company's technical services and intelligence and information-systems business unit. AOL will continue to have a significant presence in Loudoun.

The project will include a capital investment of about $37.5 million. During the next 36 months, Raytheon expects to create about 100 jobs in the area. About 1,500 people will work at the Ashburn facility starting in 2010.

“We are very excited that Raytheon recognized the advantages of doing business in Loudoun and has selected our community as a hub for two of its major business units,” said Loudoun Chairman Scott York (I-at large) in a statement. “We're very confident Raytheon’s employees, who will now be working here, will find Loudoun County a great place to live and work.”

The Virginia Economic Development Partnership worked with Loudoun officials to out compete both Washington, D.C., and Maryland for Raytheon.

Also, Kaine approved a $500,000 grant from his Opportunity Fund to assist Loudoun with improving access to the AOL site by finishing work on nearby Pacific Boulevard. When complete, the road will connect Route 606 and Nokes Boulevard, taking stress off Route 28.

Ever since the current batch of supervisors took office in January 2008, the county has ratcheted up efforts to lure companies to the county, according to Supervisor Lori Waters (R-Broad Run), chairwoman of the board's economic development committee.

Included in those efforts was the creation last year of a new position -- filled by Hargan – who was tasked with extolling the benefits of Loudoun to technology companies looking to move to this region.

“Our neighbors in Montgomery and Fairfax counties are working hard to get these companies,” Waters said. “So we can't just sit back and wait for them to come to us. We have to be proactive.”


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