Governor Bob McDonnell today announced
that ITT Defense and Information Solutions, an operating segment of ITT
Corporation, will invest up to $5 million to establish its new corporate
headquarters in Fairfax County following completion of
its previously announced spin-off from ITT later this year.
ITT’s Defense and Information Solutions segment
already has a strong presence in Virginia with its headquarters
in McLean, its Information Systems division based in Herndon and its Geospatial
Systems division based in Roanoke.
Following completion of its spinoff from ITT
Corporation (www.itt.com), the existing Defense and Information Solutions
business segment will be renamed and rebranded as ITT Exelis – a new,
publicly-traded standalone company and industry-leading provider of innovative
technologies and operational services to meet the enduring requirements of
global military, government and commercial customers. The company's products
and services will include premier technologies such as next generation night
vision, integrated electronic warfare, networked communications, force
protection, radar, global intelligence, surveillance and reconnaissance
systems, composite structures, space-based satellite imaging, weather and
climate monitoring, and navigation and imaging systems, as well as maintenance,
engineering and professional services.
The project to establish its corporate
headquarters will create 100 new jobs over the next 3-5 years across all of its
business operations in the Commonwealth. Virginia successfully competed
against Maryland and Washington D.C. for the project.
Speaking about today’s announcement, Governor McDonnell said, “ITT Exelis
is a top-tier supplier of highly-engineered products and services to military,
government and commercial customers around the world. Choosing Fairfax as the location for
their corporate headquarters is a win for our economy and a testament to our
state’s strong business climate. Our region offers access to one of the world’s
largest information-based networks for defense and I am pleased that the new
company will call Virginia home.”
“Governor McDonnell and I were
committed to ensuring that ITT Exelis chose the Commonwealth for its corporate
headquarters,” said Jim Cheng, Virginia Secretary of Commerce and Trade. “Fairfax County offers a solid business
foundation that is in line with the company’s ever-growing military, government
and commercial customer base. We are thrilled that ITT Exelis will expand its
presence in Virginia.”
“We are pleased that the Commonwealth of Virginia will serve as our
corporate headquarters as we continue to deliver essential products and
services to customers around the globe,” said David F. Melcher, currently
president of ITT Defense & Information Solutions, who will serve as chief
executive officer of ITT Exelis. “Virginia’s economics, proximity
to a number of our customers and our existing relationship with the state made
it an ideal choice. I am thankful to Governor McDonnell, Secretary Cheng
and other Commonwealth officials who played a role in the process.”
The Virginia Economic Development Partnership
worked with Fairfax County and the Fairfax County
Economic Development Authority to secure the project for Virginia. Governor McDonnell approved a $100,000
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.
“In the process of restructuring and evaluating
its mission and goals, ITT Exelis had any number of options to locate the
headquarters of its defense business unit and it chose Fairfax County,” said Gerald L.
Gordon, Ph.D., president and CEO of the Fairfax County Economic Development
Authority. “Its decision to choose Fairfax County again validates the
long-term, consistent effort to make this one of the best business locations in
the world and we are proud to have this company as part of a dynamic business
community that is an important part of the quality of life here.”
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