Washington, D.C. is losing a prominent employer as the real estate company CoStar Group is moving across the river to Rosslyn from its current location in downtown D.C.
The move is said to relocate 500 jobs and bring an additional 150 new jobs to the area.
This is the group’s second recent investment in Virginia, following a 2021 announcement to build a corporate headquarters in Richmond, supplying that region with an additional 2,000 new jobs.
Governor Glenn Youngkin shared the following thoughts in a press release issued by his office:
“Virginia’s a great choice for a new corporate headquarters location, and we are excited that CoStar Group, a leading provider of online real estate marketplaces, information, and analytics in the property markets, sees the economic advantage in moving to the Commonwealth. As states compete for business and jobs, the Commonwealth’s diverse, world-class talent, exceptional quality of life and stable business climate continues to stand out. We are proud that CoStar has chosen Virginia as its home.”
Even Democrats are happy with the current pro-business environment in the Commonwealth.
State Senator Barbara Favola, who represents Arlington, noted that “the decision to relocate the CoStar headquarters to Arlington County reinforces the positive environment state and local leaders have created for business. The well-educated workforce, world-class public schools, transit opportunities, and recreational spaces will be welcome assets for CoStar employees.”
Governor Glenn Youngkin approved nearly 5 million dollars in grants to incentivize the move. This included a “$1.25 million grant from the Commonwealth’s Opportunity Fund” as well as “$3.5 million in funds from the Virginia Economic Development Incentive Grant.”