Fairfax County Economic Development Authority Business News – June 9

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Nodal Exchange to expand headquarters in Fairfax County

Earlier today, Governor Glenn Youngkin announced that Nodal Exchange, a Fairfax County-based derivatives exchange that provides price, credit and liquidity risk management solutions to North American market participants raw materials, will increase capacity at its headquarters at 1921 Gallows Road in Tysons. . The expansion will create 37 new jobs.

“Nodal Exchange was founded in Fairfax County, which we believe is an ideal location to attract and retain the exceptional professional team needed to operate a derivatives exchange and clearinghouse, and we are delighted to be able to continue to grow and develop here. It’s a wonderful place with a highly skilled and diverse workforce, said Paul Cusenza, Chairman and CEO of Nodal Exchange and Nodal Clear. “It is also centrally located to our trading and clearing community and close to our regulators in Washington, DC”

“Nodal Exchange offers the largest suite of energy and environmental contracts in the world, and we are proud that this Virginia company manages risk in such a critical market, resulting in impressive growth at its headquarters in the county of Fairfax”, said Governor Youngkin. “Northern Virginia has a deep talent pool to support a range of industries, and we’re thrilled to see another business partner grow and create 37 high-quality jobs.”

Raytheon HQ comes to NoVa

Aerospace and defense giant Raytheon Technologies announced on Tuesday that it will move its global headquarters from Boston, Massachusetts to Arlington, Virginia in the third quarter of this year, a move that will see four of the world’s five largest contractors from aerospace and defense company based in Northern Virginia. Economic Development Alliance Jurisdictions. Raytheon’s announcement comes after Boeing said in May that it would move its global headquarters from Chicago to northern Virginia. Raytheon, the world’s second-largest defense company, joins Northrop Grumman in Falls Church and General Dynamics in Reston. With the world’s largest defense contractor, Lockheed Martin, based in Bethesda, Maryland, the National Capital Region will now be home to the world’s five largest aerospace and defense contractors. Virginia Business and The Washington Post have more.

“Raytheon’s decision to move its headquarters to Northern Virginia is another example of a large global company choosing to base its operations here,” said Victor Hoskins, President and CEO of Fairfax County Economic Development. Authority. “This decision, among other recent announcements from major aerospace and defense companies, is a testament to the unparalleled access and resilient business environment we provide here in the Greater Washington, DC area.”

Destination Reston

General contractor Winmar Construction, one of Greater Washington’s largest private companies, is moving its headquarters from Washington, DC to Reston, according to the Washington Business Journal in an article for subscribers. Rockville commercial real estate company Edge said Tuesday it was representing Winmar in a 7,000 square foot lease at 2100 Reston Parkway. Winmar said it will maintain a presence in its Washington, DC space. The company also has regional offices in Miami and Baltimore.

Acquisition of health technologies

Digital consulting and services firm Fairfax ICF International has reached an agreement to buy digital health services company Herndon SemanticBits for $220 million, the Washington Business Journal reported in a subscriber article. SemanticBits is a regular partner with federal health agencies on digital modernization efforts, primarily the Centers for Medicare & Medicaid Services. It employs more than 450 federal health technologists and practitioners and conducts work on more than 30 technology platforms.

Career Fair for Veterans and Military Spouses

The Fairfax County Economic Development Authority hosted its second biannual Veteran and Military Spouse Career Fair, connecting more than 400 former military personnel and military spouses with 75 companies seeking to expand their workforce through in-person and online engagements. FCEDA has partnered with the Virginia Chamber Foundation and the Virginia Department of Veterans Services to present the event on May 11 and a virtual job fair on May 12. The job fair was designed to provide veterans, transitioning military members and military spouses with employment opportunities in government, information technology, finance, defense and other sectors in the goal of attracting and retaining talent in Northern Virginia. ExecutiveGov has more.

Fight against natural disasters

Reston-based SAIC is working on initiatives focused on how technology can help combat natural disasters and climate change, according to technical.ly in a feature article that includes interviews with Jay Meil, director of the SAIC Data Science and Artificial Intelligence, and SAIC Chief Climatologist Stephen Ambrose. According to the article, SAIC is working with entities such as NASA, the Department of Defense and NOAA to mitigate the impact of climate change. SAIC’s current initiatives include projects with the US Navy, determining the impact of sea level rise on naval infrastructure; and with NASA and the Forest Service to prepare for wildfire season. Along with AI and machine learning, the company is developing virtual reality, drone work and a technology called “artificial intuition”, which helps firefighters understand the massive amounts of data collected and how to respond to disasters. at this moment.

Space overlay

Northrop Grumman, based in the Falls Church area, will work with Aeronix, based in Melbourne, Fla., to build a prototype Space End encryption unit that will link common architecture weapon systems and other platforms in low Earth orbit under a Department of Defense contract to support the DOD objective. to connect the joint force, ExecutiveBiz reported. “Our prototype open-architecture spatial mesh network delivers new capabilities in Space Layer Networking to meet emerging and evolving customer needs,” said Kevin Berkowitz, director of network solutions at Northrop Grumman.

Deal done

Centerville-based Parsons has completed its $400 million acquisition of Reston-based Xator. The deal was first announced in May. Xator, which expects to register $300 million in revenue this year, provides technical and infrastructure protection services to defense and intelligence agencies. Parsons said the acquisition expands its presence within the U.S. Special Operations Command and intelligence community, as well as federal civilian and critical infrastructure markets. Army technology has more.

Refinancing

Tysons-based Cvent, a meetings, events and hospitality technology developer, said it has secured a new five-year, $500 million credit facility through a syndicate of banks, led by PNC Bank. The facility replaces the Company’s existing $266 million term loan facility and $40 million revolving credit facility. Cvent expects the refinancing to result in annual interest savings of approximately $4 million. Potomac Tech Wire produced the release.

Data for diplomacy

Consulting services firm Guidehouse has been recognized by the US State Department for its data analytics efforts within the department, ExecutiveBiz reported. The Data for Diplomacy Award is a new honor given to a selected organization. Through a demonstration of its national security and advanced services, the award was extended to companies that used data as a strategic asset in accordance with foreign policy missions.

Supply chain protectors

Mandiant, based in Reston, and Interos, based in Arlington, Va., have partnered with the goal of helping businesses and governments avoid cyberattacks on supply chain operations through the use of intelligence on the risks. The two companies are looking to introduce an offering that will allow organizations to use data-driven insights from Mandiant’s threat research and Interos’ software-as-a-service platform for threat risk management. supply chain, ExecutiveBiz reported.

New first software

Capital One Financial Corp., based in Tysons, bundles cloud and data management software it has developed for internal use into products it can sell to other companies. Last week, Capital One announced Capital One Software, a B2B software company for businesses operating in the cloud. The division’s first product is Capital One Slingygushot, a data management tool for customers of Snowflake, a company that provides data warehousing, data engineering and other data services, according to American Banker.


About Fairfax County
Economic Development Authority

The Fairfax County Economic Development Authority (FCEDA) promotes Fairfax County, Virginia as a center for business and technology. FCEDA offers site location and business development assistance, as well as relationships with county and state government agencies, to help businesses locate and grow in Fairfax County. .

Want to learn more about FCEDA services or how economic development helps Fairfax County? Visit the FCEDA website or email [email protected].

Fairfax County: “One of the great economic success stories of our time” — TIME

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