Advertisement

Header Utility Menu

  • Subscribe
  • Advertise
  • Contact Us
  • Events

LinkedIn Facebook Twitter Instagram Get Our App

  • Login

Virginia Business

Mobile Menu

  • Issues
  • Industries
    • Banking/Finances
    • Business Law
    • Commercial Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • Coronavirus 2020
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • Diversity Leadership Series
    • Vote Now for Women in Leadership
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read the issue
    • Order a copy
    • Buy an award plaque
    • Nominate execs for 2021

Advertisement

Header Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Home News Industries Commercial Real Estate Arconic to relocate headquarters from New York City to Fairfax County

Arconic to relocate headquarters from New York City to Fairfax County

Published April 30, 2018 by Paula C. Squires

Gov. Ralph Northam

Arconic Inc., a Fortune 500 metals manufacturer, said Monday that it plans to relocate its global headquarters from New York City to Fairfax County.

The move would bring about 50 jobs to the county. No decision has been made yet on an exact location, according to the Fairfax County Economic Development Authority (FCEDA). The announcement came during a gathering of officials, including Gov. Ralph Northam at the Tower Club at Tysons.

“We are pleased to establish Arconic’s global headquarters in Fairfax County, Virginia — an area that is home to several aerospace and defense customers, a world-class talent base, and which offers a favorable quality of life for employees and a high level of connectivity to our key locations,” Arconic CEO Chip Blankenship, said in a statement.

The Virginia Economic Development Partnership worked with the FCEDA to secure the project for Virginia. Gov. Ralph Northam approved a $750,000 grant from the Commonwealth’s Opportunity Fund to assist the county with the project.

Northam noted in his comments that Arconic already has multiple locations in Virginia.  The company, with more than 60 facilities in the U.S., currently has offices in Hampton, Harrisonburg and Martinsville.

Arconic was created in November 2016 when Alcoa split into two public companies. Alcoa’s bauxite and aluminum products were spun off into Alcoa Corp. Alcoa Inc. became Arconic, which creates aluminum products used in the aerospace, automotive and construction industries.

On the same day it was announcing relocation plans, Arconic’s share price dropped by nearly 21 percent to $17.81 by the close of the stock market. The drop followed the release of the company’s first-quarter earnings, which slashed its 2018 forecast for profit. Arconic said it expects increased operation costs, with aluminum prices expected to  remain high this year as a result of sanctions on Russian supplies and a 10 percent duty on Russian imports. President Donald Trump has imposed sanctions on Rusal, Russia's biggest aluminum producer, and some other companies, in response to Moscow's alleged interference in the 2016 U.S. election.

In terms of corporate announcements, April was a busy month for Northern Virginia. Arconic is the third corporate announcement in as many weeks with Gerber Products  announcing plans in mid April to relocate its U. S. headquarters from New Jersey to Arlington. On April 16, Appian, a fast-growing vendor of business process management software, said it was moving from Reston to the former Gannett Co. headquarters building at Tysons in a headquarters expansion that will retain 600 existing jobs in Virginia and create 600 new jobs over the next five years.

Related Stories

Virginia Business logo

US Foods will nearly double its space in Prince William County

Virginia Business logo

Gerber to move its headquarters from New Jersey to Arlington

Virginia Business logo

Loudoun announces major mixed-use development along Silver Line

Rivana at Innovation Station will include apartments, office, retail, hotel

Trending

Finance/Insurance: STEPHAN Q. CASSADAY

Finance/Insurance: PAUL B. MANNING

Federal Contractors/Technology: JASON PROVIDAKES

Education: ANNE M. KRESS

Artemis I to launch with help from Va. contractors

Sponsored Stories

Why is my Less Than Truckload (LTL) freight pricing going up and my service level going down?  

Beyond Juneteenth – How Capital One is Commemorating and Implementing Change

How We Help Your Business Operate Better

Before the Breach: Get Serious About Cyber Resilience

Professionals are Discovering What it Means to Live Uniquely in the Alleghany Highlands of Virginia

Riverside Logistics Celebrates 25th Anniversary!

Girls for a Change Empowers Black Youth for the Future Workforce

The Jackson Ward Collective is equipping Black-owned small businesses with the tools for success

Advertisement

Advertisement

Trending

Finance/Insurance: STEPHAN Q. CASSADAY

Finance/Insurance: PAUL B. MANNING

Federal Contractors/Technology: JASON PROVIDAKES

Education: ANNE M. KRESS

Artemis I to launch with help from Va. contractors

Sponsored Stories

Why is my Less Than Truckload (LTL) freight pricing going up and my service level going down?  

Beyond Juneteenth – How Capital One is Commemorating and Implementing Change

How We Help Your Business Operate Better

Before the Breach: Get Serious About Cyber Resilience

Professionals are Discovering What it Means to Live Uniquely in the Alleghany Highlands of Virginia

Riverside Logistics Celebrates 25th Anniversary!

Girls for a Change Empowers Black Youth for the Future Workforce

The Jackson Ward Collective is equipping Black-owned small businesses with the tools for success

Get Virginia Business directly on your tablet or in your mailbox!

Subscribe to Virginia Business

Advertisement

Advertisement

Footer Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Footer Secondary Menu

  • Industries
  • Regions
  • Reports
  • Company News
  • Events

Sign Up For Our Newsletter

Sign Up

LinkedIn Facebook Twitter Instagram Get Our App

Privacy Policy Cookie Policy

Footer Utility Menu

Copyright © 2023 Virginia Business. All rights reserved.

Site Maintained by TechArk