Microsoft (Nasdaq: MSFT) plans to spend $64M on a research and development hub in Reston, Va., as part of the company's software development and business expansion efforts.
The technology provider will lease and occupy 400K square feet of space at Two Freedom Square beginning in the summer of 2021, the Fairfax County Economic Development Authority said Wednesday.
FCEDA projects the establishment of a regional Microsoft R&D center in the region will create as many as 1,500 jobs and noted that the company intends to continue operations at an existing 153K-square-foot facility in the region.
“Virginia, like the rest of the nation, is facing unprecedented job loss due to COVID-19, so this announcement couldn’t come at a better time,” said Virginia Gov. Ralph Northam.
"Microsoft’s continued investment here is a testament to our top-ranked business climate, infrastructure and world-class workforce.”
The Redmond, Wash.-based company maintains an enterprise data center in Mecklenburg County and another office in the Richmond area. Its first Reston location was established in 2002.