[December 03, 2012]

Intelsat will relocate its U.S. headquarters to Fairfax County and bring more than 430 employees to local economy

Governor Bob McDonnell announced today that Intelsat (News - Alert), the world's leading provider of satellite services, will relocate its U.S. headquarters to the Tysons Corner area of Fairfax County from its current location in Washington, D.C. Intelsat plans to bring more than 430 employees to the Fairfax County economy when it relocates in mid-2014.

Intelsat will lease approximately 188,000 square feet of space in Tysons Tower, a 20-story office building that is being built by Macerich (NYSE: MAC) at Tysons Corner Center, adjacent to the Tysons Corner Metro station. The Metro station is scheduled to open in December 2013. The decision by Intelsat marks the first major announcement of a company that is locating in a building near one of four Metro stations due to open in Tysons on Metro's Silver Line.

"It gives us great pride to have Fairfax County chosen as the new home for Intelsat's U.S. headquarters," said Gerald L. Gordon, Ph.D., president and CEO of the Fairfax County Economic Development Authority (FCEDA). "As Fairfax County emerges as the Washington region's economic downtown, world-class companies such as Intelsat increasingly are finding this to be an environment conducive to business growth and success."

Gordon also noted that Intelsat will broaden Fairfax County's economic base. "Intelsat's leadership role in the satellite industry gives Fairfax County strength in yet another commercial sector," he said. "As the Washington region's business community prepares for reductions in federal procurement, Intelsat, with its rich history of technical leadership and commercial innovation, represents an important diversification of and stabilization for the Fairfax County economy in the future."

"In selecting a new location for our U.S. headquarters, we sought an environment that reflects the innovative and dynamic nature of our industry," said Intelsat CEO David McGlade. "Given our highly skilled workforce and global presence, our requirements warranted a modern and collaborative workspace with access to well-educated professionals, a first-class transportation system and compelling amenities. I want to thank Governor Bob McDonnell, our partners at the Virginia Economic Development Partnership and the Fairfx County Economic Development Authority in welcoming Intelsat to Tysons Corner, where we will continue to build on our mission of providing critical communications infrastructure throughout the world."

The Fairfax County Board of Supervisors in June 2010 approved comprehensive plan changes for Tysons Corner to transform it into a walkable, sustainable, urban center that ultimately will be home to 100,000 residents and 200,000 jobs. The plan focuses development activity around four Metro stations scheduled to open in December 2013, and Intelsat is the first major office tenant to announce a new location adjacent to one of the stations. "As Tysons evolves, Intelsat represents the first new major tenant in the area," Gordon said. "What better way for the implementation of the Tysons plan to be initiated than with this announcement by an industry leader such as Intelsat."

Tysons Tower will be located at 7900 Tysons One Place. The building is one of three towers that comprise a mixed-use (office, hotel and residential) project. The three towers will be connected by a skywalk bridge plaza, and will be a short walk to the planned Tysons Corner Metro station. Intelsat will occupy the 14^th to 20^th floors of what will be the tallest building in Tysons Corner. Intelsat will remain in its current Washington, D.C., location until it moves to Fairfax County.

The Virginia Economic Development Partnership worked with the FCEDA to secure the project for Virginia. Governor McDonnell approved a $1.3 million 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, training and retraining activities.

Time magazine called Fairfax County, just outside Washington, D.C., "one of the great economic success stories of our time." Business growth helps Fairfax County fund public services that contribute to the quality of life of residents. Fairfax County offers businesses a state-of-the-art telecommunications infrastructure, access to global markets through Washington Dulles International Airport and a well-educated workforce.

The award-winning Fairfax County Economic Development Authority promotes Fairfax County as one of the world's best business centers. In addition to its headquarters in Tysons Corner, Fairfax County's largest business district, the FCEDA maintains marketing offices in six important global business centers: Bangalore, London, Los Angeles, Munich, Seoul and Tel Aviv.

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