November 09, 2007

Gordon Hickey
(804) 225-4260

Suzanne Lauer
GridPoint, Inc.
(703) 862-3137
Christie Miller
(804) 545-5805
-GridPoint, Inc. to invest $5 million and move headquarters to Virginia-

RICHMOND - Governor Timothy M. Kaine today announced that GridPoint, Inc., a clean technology company, will invest $5 million as it relocates its operations from Washington, D.C. to Arlington County and continues to expand its business. The project expects to create approximately 250 new jobs over the next three years. Virginia successfully competed with Texas for the project.

“Virginia is honored to serve as GridPoint’s headquarters,” said Governor Kaine. “As a pioneer of clean technology that reduces the carbon footprint of utilities and homeowners, the company’s project supports my administration’s push for energy efficiency. GridPoint will help establish Arlington County and the Commonwealth as a center of ‘green’ energy in the U.S.”

A private company founded in 2003, GridPoint applies information technology to the electric grid to increase reliability, efficiency and the adoption of renewable energy sources. GridPoint also provides protection from power outages and online energy management, allowing homeowners to easily control and monitor their energy usage and costs.

“We chose Virginia as GridPoint’s headquarters for a variety of reasons, including its status as a business-friendly state with a highly skilled technology workforce, as well as the opportunity to collaborate with its world-class educational, training and research institutions,” said Karl Lewis, Chief Operating Officer, GridPoint. “We also recognize that Virginia’s policy, legislative, and regulatory regime is at the leading edge of promoting clean technologies to enable the Smart Grid.”

The Virginia Economic Development Partnership worked with Arlington County to secure the project for Virginia. Governor Kaine approved $500,000 from the Governor’s Opportunity Fund to assist Arlington County with the project. The company also qualifies for the Major Business Facility Job Tax Credit. The Virginia Department of Business Assistance will provide training assistance through the Virginia Jobs Investment Program.

“Arlington is proud that GridPoint has chosen us for their corporate headquarters,” stated Arlington County Board Chairman Paul Ferguson. “Arlington has successfully created a culture which emphasizes energy and environmental conservation. GridPoint's technologies will have a major impact on energy markets and will assist in reducing greenhouse gas emissions.”


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