Israel Aerospace Industries (IAI), Israel’s largest aerospace and defense company, has plans to expand its North American headquarters operation at a new office in Herndon, Virginia, near Washington Dulles International Airport.
The expansion will create more than 50 new jobs at the company’s subsidiary, IAI North America. The company plans to invest $5.2 million for its office expansion, according to a press release.
.@ILAerospaceIAI will invest $5.2M to expand its North American HQ in @fairfaxcounty, which is at the center of the U.S. aerospace & defense market. IAI will also hire 50+ new employees from the region's world-renowned talent pool. @FairfaxEDA https://t.co/pkFlLSt5u2
— VEDP (@VEDPVirginia) November 20, 2019
This announcement came after Virginia Gov. Ralph Northam met with IAI in Tel Aviv during his international trade and marketing trip to Israel and the United Arab Emirates. Northam made the company’s expansion announcement on Nov. 20.
“This important project demonstrates the long-term benefits of building corporate partnerships and telling Virginia’s business story around the world,” said Northam in a press release. “I am grateful for the opportunity to meet with IAI officials in Tel Aviv to discuss ways we can strengthen economic ties between Virginia and Israel.”
Launched in 1953, IAI manufactures aviation and aerial systems for Military and civilian use, including designing business jets and converting passenger aircraft to refueling and cargo configurations. The company reports having 15,000 employees worldwide, with over 200 team members working at IAI North America.
With this expansion, the company is leasing about 30,000 square feet of office space in Herndon, the Fairfax County Economic Development Authority reports. The company is currently situated in the Rosslyn Center in Arlington, Virginia.
“The area is the logical choice to establish IAI North America’s new corporate headquarters office,” said CEO of IAI North America Swami Iyer in a statement. “Fairfax is at the center of the aerospace and defense market here in the United States, it is close to many of our clients’ head offices, and provides the opportunity for increased coordination and synergy realization for our enterprise growth goals.”
The Virginia Jobs Investment Program (VJIP) will provide funding and services to IAI to support the company’s employee training activities. VJIP is a state-funded program that helps Virginia-based companies creating new jobs or experiencing technological changes by providing consultative services and funding to further support their growing workforces.
The FCEDA teamed up with the Virginia Economic Development Partnership to secure this project for the Commonwealth. FCEDA has had a Tel Aviv-based office since 2004 to conduct business with Israeli companies looking to expand to the U.S. and the Fairfax County region specifically.-30-