Real estate company CoStar bolts Washington, D.C., for Virginia

Feb 14, 2024, 12:46 PM

ARLINGTON, Va. (AP) — Real estate data firm CoStar Group is moving its headquarters from Washington, D.C., to northern Virginia, a move that will bring roughly 650 jobs to the state.

The company, which operates the and websites, said Tuesday that it expects to move to the Rosslyn section of Arlington County, just across the Potomac River from the nation’s capital, by the end of the year.

The relocation is expected to result in 500 jobs moving from D.C., plus the creation of 150 new jobs.

Virginia is providing $4.75 million in economic incentives to lure the company. The move comes as the Legislature is considering a $2 billion deal to relocate the NBA’s Washington Wizards and NHL’s Washington Capitals from their home in downtown to Washington to northern Virginia.

Critics of the sports team deal have questioned the wisdom of poaching business from the region’s economic core to the suburbs.

In a statement, Virginia Gov. Glenn Youngkin said, “As states compete for business and jobs, the Commonwealth’s diverse, world-class talent, exceptional quality of life and stable business climate continues to stand out. We are proud that CoStar has chosen Virginia as its home.”

As part of the deal, CoStar will pay Arlington County nearly $14 million to obtain sole use of an observation deck located on the 31st floor of the office tower it is buying. The observation deck has been open to the public.

The county says the money will be used to help fund reconstruction of a park in Rosslyn.

CoStar has more than 6,200 employees and already has a large presence in Virginia; the company’s research and data analytics headquarters is in Richmond and employs more than 1,000 workers there, with plans to expand.

Arlington County has successfully recruited numerous corporate headquarters in recent years, most famously landing the second Amazon headquarters in 2018. Boeing, and the U.S. headquarters of Nestle and European supermarket giant Lidl are among other recent arrivals.

JBG Smith, the real estate company selling the office tower to CoStar, declined comment Wednesday.

National News

Associated Press

Several people shot at Oakland Juneteenth Celebration, police say

OAKLAND, Calif. (AP) — A Juneteenth celebration turned violent when several people were shot, police in Oakland, California, said. The Lake Merritt event on Wednesday night was largely peaceful, with as many as 5,000 in attendance, until a sideshow involving “motorbikes and vehicles” took place at Bellevue and Grand avenues at around 8:15 p.m. on […]

2 hours ago

Associated Press

Probe finds carelessness caused Jewish student group’s omission from New Jersey high school yearbook

An investigation into how and why a Jewish student group was erased from a New Jersey high school yearbook found the omission was caused by negligence and carelessness, but was not done on purpose or out of malice, the school district announced Wednesday. East Brunswick Public Schools hired a law firm to investigate after the […]

11 hours ago

Associated Press

Shooting in Philadelphia wounds 7 people, police say

PHILADELPHIA (AP) — Seven people were wounded Wednesday evening in a shooting in Philadelphia, police said. The shooting happened just before 6:30 p.m. in North Philadelphia. The victims include a 19-year-old man who was shot in the leg, a 31-year-old woman shot in the hand, a 23-year-old man shot in the buttock, and two women […]

11 hours ago

Associated Press

Boaters find $1 million of cocaine floating off Florida Keys

MIAMI (AP) — Recreational boaters found $1 million worth of cocaine floating in the ocean off the Florida Keys. Samuel Briggs II, the acting chief patrol agent of the U.S. Border Patrol, wrote about the find in a social media post on X. Briggs posted video Monday night showing the wrapped packages of cocaine being […]

15 hours ago

Associated Press

Police credit New Yorkers for suspect’s arrest in the rape of a 13-year-old girl

NEW YORK (AP) — Residents of a New York City neighborhood were praised for their role in the arrest of an Ecuadorian accused of raping a 13-year-old girl, a crime that the city’s police commissioner said “shocked our entire city.” Christian Geovanny Inga-Landi, 25, was arrested early Tuesday outside a deli in Corona, Queens. He […]

15 hours ago

Associated Press

New law requires all Louisiana public school classrooms to display the Ten Commandments

BATON ROUGE, La. (AP) — Louisiana has become the first state to require that the Ten Commandments be displayed in every public school classroom, the latest move from a GOP-dominated Legislature pushing a conservative agenda under a new governor. The legislation that Republican Gov. Jeff Landry signed into law on Wednesday requires a poster-sized display […]

18 hours ago

Real estate company CoStar bolts Washington, D.C., for Virginia