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Arconic scraps headquarters move to Fairfax County

New York City-based Arconic Inc. has decided not to relocate its corporate headquarters to Tysons, following announcements this week of a new chief executive and plans to split into two companies.

Company spokesman Justin Falce cited “changing company circumstances” for the decision. It’s all part of a new strategic direction for Arconic, a lightweight metal manufacturer that has experienced significant upheaval since spinning off in late 2016 from aluminum producer Alcoa Corp., including a series of leadership changes, boardroom opposition and falling aluminum prices.

Arconic (NYSE: ARNC) had announced in August that it signed a lease with Lerner Enterprises for 23,183 square feet at Tysons II. The company was set to receive $750,000 in incentives from the Virginia Economic Development Partnership, which teamed up with the Fairfax County Economic Development Authority to secure the corporate relocation.

The move was set to bring 50 new jobs to region and, at the time, was a big win…

Read the full story from the Washington Business Journal.