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Experience Management Software Leader Qualtrics to Expand in Fairfax County, Creating 400 New Jobs
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Qualtrics (NASDAQ: XM) is set to invest $15.9 million in expansion within Fairfax County, Virginia, moving to a new 85,000 square foot facility. This project will generate 400 new jobs and follows Qualtrics’ recent acquisition of Clarabridge. Governor Ralph Northam announced the investment, supported by a $1.4 million grant and a $2 million Virginia Economic Development Incentive Grant. The expansion underscores Virginia's robust tech talent and the strategic growth opportunities for Qualtrics in the experience management software sector.
Positive
Investment of $15.9 million for expansion in Fairfax County.
Creation of 400 new jobs, enhancing local economy.
Acquisition of Clarabridge strengthens market position.
Negative
None.
FAIRFAX COUNTY, Va.--(BUSINESS WIRE)--
Gov. Ralph Northam today announced that Qualtrics (Nasdaq: XM), an experience management software company, will invest $15.9 million to expand in Fairfax County. The company will move from its former office in Reston to 85,000 square feet of space at 1906 Reston Metro Plaza. Virginia successfully competed with Pennsylvania and Ohio for the project, which will create 400 new jobs.
“Organizations everywhere are undergoing an experience transformation and Qualtrics has an incredible opportunity in front of us. With its strong talent pool, Virginia is a perfect place for Qualtrics to grow,” said Qualtrics CEO Zig Serafin. “The investments we’re making today will put us in an even stronger position to help our customers build their next great customer, employee, product, and brand experiences.”
Qualtrics is the leader and creator of the experience management (XM) category, one of the fastest-growing software markets. The Qualtrics XM Platform™ is used by more than 13,500 organizations around the world to drive customer and citizen engagement, improve loyalty and retention, and grow revenue. Qualtrics recently acquired Reston-based Clarabridge, a leader in omni-channel conversational analytics.
“This marks the second vote of confidence that Qualtrics has made in our business community this year,” said Victor Hoskins, president and CEO of the Fairfax County Economic Development Authority. “First was the purchase of Clarabridge, a homegrown tech success story, and now the expansion being announced today. We thank and congratulate Qualtrics for this tremendous growth and we stand ready to assist the company further as it expands its footprint here.”
“Fairfax County invests heavily to build and sustain a community that attracts innovative companies and talented workers to match. Today’s announcement about Qualtrics expanding in Reston is welcome confirmation that our strategy continues to be successful,” said Fairfax County Board of Supervisors Chairman Jeffrey C. McKay. “We thank the company for its significant investment and look forward to its continued growth here.”
The FCEDA worked with the Virginia Economic Development Partnership to secure the project for Virginia. Governor Northam approved a $1.4 million grant from the Commonwealth’s Opportunity Fund to assist Fairfax County with the project. The governor also approved $2 million in funds from the Virginia Economic Development Incentive Grant. Support for job creation will be provided through the Virginia Talent Accelerator Program.
“Virginia offers access to the highest concentration of tech talent in the United States,” Northam said. “The Commonwealth’s diverse tech ecosystem is driven by our stable business climate, competitive operating costs, and a world-class workforce. We look forward to Qualtrics’ continued success in Fairfax County.”
The Fairfax County Economic Development Authority promotes Fairfax County as one of the world’s best locations for business and talent. In addition to its headquarters in Tysons, Fairfax County’s largest business district, the FCEDA maintains business investment offices in six important global business centers: Bangalore/Mumbai, Berlin, London, Los Angeles, Seoul and Tel Aviv. Follow the FCEDA on Facebook, LinkedIn, Twitter and YouTube. Follow Work in Northern Virginia on Instagram and LinkedIn.
The FCEDA is a member of the Northern Virginia Economic Development Alliance. Other members: the Alexandria Economic Development Partnership, Arlington County, City of Fairfax, City of Falls Church, Fauquier County, Loudoun County, City of Manassas, City of Manassas Park and the Prince William County Department of Economic Development.
