Gov. Ralph Northam on Monday announced that Block.one, a provider of blockchain software, will invest $10 million and establish its U.S. headquarters in Arlington County.
Virginia successfully competed with Washington, D.C. for the project, which will create 170 new jobs over a period of three years.
“Block.one maintains a strong presence at its Blacksburg operation, and we are thrilled that this global company will expand its footprint in Virginia by locating its U.S. headquarters in Arlington County,” Northam said in a news release. “Blockchain and other technologies are rapidly evolving, and industry pioneers like Block.one help to bolster the commonwealth’s reputation as a leader in the information technology sector.”
Block.one is the publisher of the EOSIO blockchain software, the fastest public blockchain protocol in the market. The free, open-source protocol is designed to be adapted and used by the developer community and companies to create a more secure and transparent digital infrastructure.
Block.one has locations around the world, including Hong Kong and Los Angeles, and the Arlington location complements the company’s significant presence in Blacksburg, where it employs over 80 engineering and research and development workers at the Virginia Tech Corporate Research Center.
The Arlington County office will house corporate services talent as well as highly skilled IT professionals.
“Block.one continues to expand its presence in the U.S., where we are creating high-skill jobs,” said Block.one Chief Operating Officer Andrew Bliss. “Our decision to open our U.S. headquarters in Virginia underscores our commitment to investing in the economic growth of the Commonwealth, and our confidence in the talented workforce and support of local leadership.
“Arlington’s proximity to Washington, D.C. also allows us to continue building constructive business and government relationships as we provide insights for the application of blockchain based technologies. We are excited to be heading down new paths of growth.”
The Virginia Economic Development Partnership worked with Arlington County to secure the project for Virginia.
Northam approved a $600,000 grant from the Commonwealth’s Opportunity Fund to assist Arlington County with the project. The company is also eligible to receive a Major Business Facility Job Tax Credit for new, full-time jobs created.
“Arlington welcomes Block.one, and the jobs it will create in our community,” said Arlington County Board Chair Christian Dorsey. “Arlington’s strategy of positioning ourselves as a tech hub is paying off through the creation of high-paying jobs, the ongoing reduction of our office vacancy rate, and the expansion of our tax base. I want to thank the Governor and the Virginia Economic Development Partnership for helping Arlington close this deal.”