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FOR IMMEDIATE RELEASE
Alan Fogg,
Director of Communications
afogg@fceda.org, 703-790-0600
Fairfax County Companies Add More Than 1,200 Jobs in February and March
"Knowledge engineering" and venture philanthropy firms among 19 creating jobs, FCEDA says
Fairfax County, Virginia, April 16, 2001— Nineteen corporations — including a "knowledge and data engineering" company that is moving its headquarters from Maryland, a venture philanthropy firm that helps entrepreneurs with disabilities, a network monitoring firm that recently received $45 million in venture capital investment, and seven foreign-owned firms — announced in February and March that they would expand in or relocate operations to Fairfax County. The companies will add 1,251 new jobs to the economy, according to the Fairfax County Economic Development Authority (FCEDA).
Typically, every new job in the primary economy spins off two to three jobs in the secondary economy. Fairfax County's growth as a business center and technology hub has helped fund one of the nation's top-rated public school systems, excellent public services and an enviable quality of life. Technology-sector jobs also typically pay higher-than-average salaries, which is one reason the Claritas market research firm last June found Fairfax County's median household income the highest in the nation.
Relocations and expansions during February and March include:
* Foreign-owned firm.
CTX Corporation, which specializes in knowledge and data engineering to manage company operations, is locating its headquarters into Fairfax County from Montgomery County, Md. "Moving into Fairfax County gets us closer to our customer base and partners we work with on a daily basis. This move furthers our commitment to provide the best technology solutions to our customers by increasing our accessibility," said Tracy Graves-Stevens, President of CTX Corporation.
The Ovation Fund Inc. also is new to Fairfax County. The non-profit fund targets assistance at entrepreneurs with disabilities through grants, loans, advisory services and equity financing. "Fairfax County is the locus of some of the most innovative developments in entrepreneurship and philanthropy. As the first venture philanthropy fund in the U.S. targeting entrepreneurs with disabilities, we felt it was an ideal place to center our operations," said Michael D. Haaren, Esq., Managing Director of The Ovation Fund.
A company that is expanding its presence in Fairfax County, SevenSpace, announced in February that it received $45 million in second-round venture financing. The company operates and monitors e-commerce networks.
"The economy of the region is slowing but there companies that are growing and these numbers are a demonstration that technology companies still regard Fairfax County as the premier place in the region to do business," said Gerald L. Gordon, Ph.D., President and CEO of the FCEDA.
For technology companies, Fairfax County offers a state-of-the-art telecommunications infrastructure, access to domestic and international markets through Washington Dulles International Airport, a well-educated workforce and an excellent quality of life.
The Fairfax County Economic Development Authority (www.FairfaxCountyEDA.org) promotes Fairfax County as the business and technology hub of the Washington, D.C., area and the east coast. The FCEDA assists firms by identifying possible sites and facilities, sources of funding and other business connections, and is a source for up-to-date demographic and economic statistics. The FCEDA maintains marketing offices in London, Frankfurt and Tokyo.
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