Virginia Gov. Robert McDonnell (R) yesterday said ITT Corp.’s [ITT] Defense & Information Solution business segment will invest as much as $5 million to create a new corporate headquarters in the Tyson’s Corner area of Fairfax County once it completes its spinoff from the parent organization later this year.
Earlier this month, ITT Corp. said the Defense & Information Solution segment would be renamed and rebranded as ITT Exelis–a new, stand-alone company that will be publically traded as “ XLS,” an industry-leading provider of innovative technologies and operational services to meet the requirements of global military, government and commercial customers (Defense Daily, July 15).
The project is expected to create 100 new jobs over the next three to five years across all of its business operations in the Commonwealth. Virginia successfully competed against Maryland and Washington, D.C., for the project.
“We are excited to continue our relationship with the state of Virginia and locate our corporate headquarters in Fairfax County,” said David Melcher, president of ITT Defense & Information Solutions, who will serve as chief executive officer of ITT Exelis. “The county’s proximity to our customers, its highly skilled workforce and business-friendly climate will allow us to continue to deliver essential products and services to our customers. I appreciate the hard work of the Fairfax County Economic Development Authority and other Virginia officials in helping us reach our decision.”
ITT’s Defense & Information Solutions segment already has a strong presence in Virginia with its headquarters in Tysons Corner, its Information Systems division based in Herndon and its Geospatial Systems division based in Roanoke.