GridPoint Inc. to Relocate Headquarters to Arlington

Arlington's workforce, proximity to research institutions attracts green energy company.

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Arlington has one of the highest concentrations of scientific research agencies, anchored by the National Science Foundation and several top university-related research institutes

Arlington, VA (PRWEB) November 9, 2007

Arlington County officials today announced that GridPoint, Inc., a leading clean tech company whose smart grid platform benefits electric utilities, consumers and the environment, will invest $5 million as it relocates its operations from Washington, D.C., to Arlington, Virginia. The project expects to create approximately 250 new jobs over the next three years. Arlington successfully competed against Austin, Texas.

"Virginia is honored to serve as GridPoint's headquarters," said Governor Timothy Kaine. "As the pioneer of an innovative smart grid platform, the company's project certainly supports my administration's thrust for energy efficiency. GridPoint will help establish Arlington and the Commonwealth as the center of 'green' energy in the U.S."

Arlington Board Chairman Paul Ferguson cited the fit between GridPoint's green energy work and Arlington's initiatives to promote energy conservation and efficiency. "Arlington is proud that GridPoint has chosen us for their corporate headquarters," Ferguson said. "Arlington has successfully created a culture which emphasizes energy and environmental conservation. GridPoint's technologies will have a major impact on energy markets and will assist in reducing greenhouse gas emissions."

Move confirms Arlington as attractive option for companies

GridPoint's move confirms Arlington as an amenity-rich, highly sought-after place for companies to locate. "We chose Arlington as GridPoint's headquarters for a variety of reasons, including its status as a business-friendly location with a highly skilled technology workforce, as well as the opportunity to collaborate with its world-class educational, training and research institutions," said Karl Lewis, Chief Operating Officer.

Arlington Economic Development Director Terry Holzheimer agreed with GridPoint's assessment. "Arlington has one of the highest concentrations of scientific research agencies, anchored by the National Science Foundation and several top university-related research institutes," said Holzheimer. "In addition to having an incredibly talented and creative workforce, a location in Arlington allows companies to colocate within a compact, urban environment, and drives both ingenuity and innovation that is limitless in scope."

In May 2007, AED launched an innovative marketing campaign titled "Think Arlington" to attract new companies. The promotion, using the slogan "Brainpower: Arlington's Alternative Energy," positions Arlington as a premier location for expanding high-tech, research, and policy related organizations, by highlighting Arlington's talented, highly-skilled workforce.

The Virginia Economic Development Partnership worked with Arlington County to secure the project for Virginia. Governor Kaine approved $500,000 from the Governor's Opportunity Fund to assist Arlington County with the project. The company also qualifies for the Major Business Facility job tax credit. The Virginia Department of Business Assistance will provide training assistance through the Virginia Jobs Investment Program.

About Gridpoint:
A private company founded in 2003, GridPoint's platform applies information technology to the electric grid to provide utilities with an intelligent network of distributed resources that reside at the point of consumption -- the home or business. Additionally, the platform's modular, scaleable and upgradeable architecture enables utilities to create a practical path for integrating new clean technologies, including plug-in hybrid electric vehicles and fuel cells. For consumers, GridPoint's platform provides protection from power outages, increases energy efficiency through online energy management and integrates utility-controlled renewable energy systems, paving the way for the commercial success of residential and light commercial solar and wind energy sources.

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