Updated at 1:40 p.m. — Corrects description of MicroStrategy and lease renewal date.
MicroStrategy Inc. scored $1 million to expand in Tysons.
The Fairfax County’s Board of Supervisors approved grant funding from the Commonwealth at its meeting on Tuesday (May 21).
The funds will help the company with its tenant build-out of its facility (1850 Towers Crescent Plaza) in Tysons, which could lead to 300 new jobs at the facility, according to county documents.
Last March, MicroStrategy, which provides a data analytics platform, renewed its lease for its Tysons headquarters for $150 million, keeping the company based in Northern Virginia for another 13 years, the Washington Business Journal reported.
As part of the grant, Fairfax County must provide a local match, which will be in the form of accelerating construction on the Magarity Walkway project, a roadway improvement that is already planned and funded in the county budget. The road improvement was identified by coordinating with the Fairfax County Department of Transportation.
Fairfax County competed with another jurisdiction for the expansion of MicroStrategy’s headquarters, according to county documents.