K2M Group Expands HQ, R&D Operations in Leesburg
- Dec 16, 2014
Virginia Gov. Terry McAuliffe announced on Dec. 12 that K2M Group Holdings Inc. will relocate to a larger facility. However, the global medical device company will not be leaving Leesburg.
K2M Group Holdings is currently located at 751 Miller Drive. The facility, which offers about 83,000 square feet of space, according to PropertyShark, is unable to meet the company’s needs. K2M went public in May, and it has expanded rapidly since then.
The company’s new global headquarters will be located in a new, 146,000-square-foot facility, to be built in the Oaklawn Development, owned by the Trammell Crow Co. and Keane Enterprise Inc. The project will cost approximately $28 million. It will be funded through contributions from Trammell Crow, Keane Enterprises, K2M, the town of Leesburg, Loudoun County and the commonwealth of Virginia.
Gov. McAuliffe said the project will help retain 268 jobs and will also create 97 new jobs.
The Virginia Economic Development Partnership worked with the town of Leesburg and Loudoun County to secure the project for Virginia. Incentives include a $450,000 grant from the Governor’s Opportunity Fund to help Loudon County with the project, as well as a $400,000 performance-based grant from the Virginia Investment Partnership program. K2M will also have access to additional funding and services to support its employee training activities through the Virginia Jobs Investment Program.
“This is a significant win for Virginia, to retain a 10-year corporate partner that will continue to operate its headquarters and light manufacturing operation in Leesburg and Loudoun County. Creating these high-tech jobs of the 21st century is key for building a new Virginia economy. We are confident that this tremendous project will encourage the future growth and viability of K2M,” Gov. McAuliffe said in a news release.
“Loudoun County has been an ideal location to attract excellent high-quality employees. The proximity to Dulles Airport has been critical to our international shipping and travel requirements,” added Eric Major, K2M’s co-founder, president & CEO. “When exploring options for the company’s new headquarters and light-manufacturing facility, the town was an obvious choice. We have deep Virginia roots, and we are proud to be a success story for the commonwealth. We look forward to continuing our partnership with the town of Leesburg, Loudoun County and the commonwealth, and remain committed to doing our part as a responsible corporate citizen by giving back to the community both locally and globally.”