Suzanne West Clark
Governor McAuliffe Makes His First Economic Development Announcement
-Telos Corporation to invest $5 million in facility upgrade and renovation in Loudoun County-
RICHMOND - Governor Terry McAuliffe announced today that Telos Corporation, a leading cybersecurity company, will invest $5 million in its operations in Loudoun County. The company will undergo a major renovation to its headquarters facility and increase cybersecurity capacity, creating 160 new jobs over 36 months. Virginia successfully competed against Maryland for the project, and also retains 240 existing jobs.
“My top priority as governor is to grow and diversify Virginia’s economy and make Virginia a leader in 21st Century industries like cybersecurity,” said Governor McAuliffe. “I am pleased that Virginia has retained Telos Corporation with this project and that such a major employer will add 160 new jobs here in the Commonwealth. Investing in a significant facility upgrade and increased cybersecurity capacity is a great testament to the assets Virginia has and Telos’ confidence in a long and successful future in the Commonwealth.”
Telos Corporation has provided innovative IT solutions and services to the government and commercial organizations for more than 30 years, focusing since 1997 on cybersecurity. The company’s solutions ensure that the most security-conscious organizations, including Department of Defense, the Intelligence Community, and financial services firms, comply with demanding information security mandates.
“Telos has long been committed to Loudoun’s economic development,” said Telos Chairman and CEO John B. Wood. “We’re pleased to continue to make our home in this vibrant business environment.”
The Virginia Economic Development Partnership worked with Loudoun County to secure the project for Virginia. Former Governor Bob McDonnell approved a $500,000 grant from the Governor’s Opportunity Fund to assist Loudoun County with the project. The company is also eligible to receive a Major Business Facility Job Tax Credit. Through its Virginia Jobs Investment Program, the Virginia Department of Business Assistance will provide funding and services to support the company’s recruitment and training activities.
Loudoun County Board of Supervisors Chairman Scott K. York said, “Not only is Telos an important business for Loudoun County, they’re also a very active community partner. Mr. Wood was a co-founder of the CEO Cabinet and a Past Chair of our Economic Development Commission, and the company has been at the lead of many initiatives from education to support for our military. I’m proud to say that Loudoun will continue to be the home for Telos for years to come.”
Loudoun County Economic Development Director Buddy Rizer said, “The cybersecurity industry in Loudoun County is poised to grow ten-fold over the next 10 years, and Telos is a leader in that arena. Loudoun has over 900 federal government contractors, and Telos has made the Washington Technology Top 100 Government Contractors list for the 10th year in a row.”