Auditing giant KPMG LLP will be bringing $30 million dollars and 500 new jobs in a sweeping expansion of its Tysons operations.
KPMG will be moving into seven floors of Boro Tower, part of a massive mixed-use development near the Greensboro Metro station, Virginia Gov. Ralph Northam (D) announced Wednesday morning.
The building, expected to open in early 2019, is a block away from the offices that KPMG currently occupies at 1676 International Drive. That building, in turn, is also set for a substantial renovation.
A $1 million grant from the Commonwealth’s Opportunity Fund was approved by Northam as an economic incentive to facilitate the move. Virginia also offered a slew of other incentives, including a Major Business Facility Job Tax Credit for the new full-time jobs coming with the expansion and employee retraining activities provided by the Virginia Jobs Investment Program.
“We’re committed to Fairfax County and are excited about the growth that we’re seeing here in world-class innovation and leading-edge technology — two areas that align with our own core services and strategic approach,” said Jerry Carlson, a KPMG managing partner, in a press release.
The expansion was also facilitated with local help from the Fairfax County Economic Development Authority (FCEDA) and the Virginia Economic Development Partnership.
“KPMG has been a major employer and corporate citizen in Fairfax County for years, and we are delighted to see that the company has chosen the county as a base to expand its audit, tax and advisory business significantly,” said Gerald Gordon, president and CEO of the FCEDA, in a press release. “This coincides with the continued growth and diversification of the county economy and the increasing realization that this is a great draw for the workforce the company wants to attract and retain.”
“This illustrates our strength in the professional services sector that creates so many jobs here, and is a great vote of confidence in the kind of business community that we promote here,” a FCEDA spokesman added.