Montgomery County’s Cybersecurity Company of the Year to Create Hundreds of New Jobs
- Aug 14, 2015
By Adrian Maties, Associate Editor
It’s always good news when an IT company opens an office in your city. They tend to be successful, they tend to grow really fast and they tend to pay their employees a lot of money. But do you know what’s better than having an IT company open an office in your city? Having one expand.
That’s exactly what VariQ Corp. is doing in Montgomery County. The IT and cybersecurity solutions company has recently announced plans to relocate its headquarters to a larger, 26,000-square-foot building on Rockville’s Tower Oaks Blvd. As if that weren’t enough, VariQ will also create hundreds of new jobs over the next five years, increasing the number of its employees from 17 to more than 250.
The expansion marks an important economic win for Montgomery County. In order to help secure the project, the Maryland Department of Business and Economic Development has approved a $280,000 conditional loan through its Maryland Economic Development Assistance Authority and Fund program. The Montgomery County Department of Economic Development is also providing a $100,000 conditional grant through its Economic Development Fund.
VariQ is one of Maryland’s success stories. The company was founded in 2003 and has both government and commercial clients. Over the past three years, it has grown by 336 percent, and has become one of the fastest-growing private U.S. firms, according to Inc. magazine. The Montgomery County Department of Economic Development named VariQ the Montgomery County Cybersecurity Company of the Year in 2015.
“VariQ has consistently ranked among the fastest-growing private companies in the country and we are proud to support their expansion here in Maryland,” Governor Larry Hogan said in a statement. “Our administration is committed to making sure Maryland is truly open for business and partnering with innovative companies like VariQ demonstrates our state is a place where all businesses can grow and thrive.”