Office of Governor Bob McDonnell Press Release
RICHMOND - Governor Bob McDonnell today announced that Cvent (NYSE: CVT), a leading cloud-based event management platform that recently went public, will move its headquarters to SAIC's former headquarters building in Tysons Corner, the recently renamed "Greensboro Station." Virginia successfully competed against Maryland for the project, which will create 400 new jobs in three years and retain 451 jobs.
Speaking about today's announcement, Governor McDonnell said, "As a corporate citizen that has called Virginia home since 1999, it is tremendous news that Cvent will continue to grow in Fairfax County with this headquarters expansion. The company benefits from the large, well-educated labor pool in the region that provides a qualified workforce, and the available site located on the new Silver Line Metro route is an ideal location that meets Cvent's needs and allows room for future growth. We welcome 400 new jobs and celebrate the company's Fairfax employee base of more than 450 that will continue to thrive in Virginia."
"Cvent provides a unique event management platform that continues to grow in demand," said Jim Cheng, Virginia Secretary of Commerce and Trade. "We are thrilled that the company's success requires the need for larger headquarters operations in Fairfax County, and this exciting project is a great testament to the ideal business climate found in Virginia."
Cvent is a leading cloud-based enterprise event management platform that offers software solutions to event planners for online event registration, venue selection, event management, mobile apps for events, e-mail marketing, and web surveys; and to hotels for targeted advertising to event planners looking for suitable venues to host their events.
"As a growth-oriented tech company it is critical to be located in an area that offers access to a highly qualified talent pool and aligns with our entrepreneurial culture," said Reggie Aggarwal, CEO and Founder of Cvent. "Virginia offered a very competitive package that is supportive of our expansion and gives us the ability to continue to grow."
The Virginia Economic Development Partnership worked with the Fairfax County Economic Development Authority to secure the project for Virginia. Governor McDonnell approved a $1 million grant from the Governor's Opportunity Fund to assist Fairfax County with the project. 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. Cvent will lease about 130,000 square feet of space at 1710 Solutions Drive, and plans to invest $7 million to expand its headquarters operations. The company plans to move in the latter half of 2014.
"Cvent is a great example of the kind of entrepreneurial company we want to help stay and grow in Fairfax County," said Gerald L. Gordon, Ph.D., president and CEO of the Fairfax County Economic Development Authority. "We know there are other location options in the region and elsewhere. We are proud that the company's leadership has chosen Fairfax County, and confident that the company will continue to benefit from the high-quality workforce at its disposal and the quality of life that the county offers."
Greensboro Station was recently acquired and will be repositioned by the Meridian Group, a D.C.-area based real estate private equity firm.