Boeing says it will shift headquarters to Virginia
Youngkin involved in discussions about move from Chicago
Boeing Co. said Thursday it will move its headquarters from Chicago to the Washington area, where company executives would be closer to key federal government officials.
The company said it will use its campus in Arlington as its new headquarters, and it plans to develop a research and technology hub in the area.
“The region makes strategic sense for our global headquarters given its proximity to our customers and stakeholders, and its access to world-class engineering and technical talent,” Boeing CEO David Calhoun said.
The move marks a win for Republican Gov. Glenn Youngkin, who campaigned last year on a promise to bring new businesses and jobs to the state.
“The decision to call Virginia home shows that the Commonwealth is the premier location for aerospace companies,” Youngkin said in a statement. “I look forward to working with Boeing to attract even more talent to Virginia especially given its reputation for engineering excellence.”
Youngkin retired in 2020 as co-CEO of private equity giant the Carlyle Group. He was personally involved in discussions about the move and had a prior business relationship with Calhoun, who also was an executive in the investment industry, according to a person familiar with the matter who was
not authorized to discuss the negotiations publicly.
A spokeswoman for the state’s economic development agency said the project will not receive any state incentives. A spokeswoman for the county’s economic development office did not immediately respond to questions about whether Boeing had been offered local incentives.
Boeing is a major defense contractor, and the move will put executives close to Pentagon leaders. Rival defense contractors, including General Dynamics, Lockheed Martin and Northrop Grumman, already are based in the D.C. area.
Company executives would also be near the Federal Aviation Administration, which certifies Boeing passenger and cargo planes. Boeing had 142,000 employees at the end of 2021, according to a regulatory filing. The filing did not say how many work in Chicago.
Many Virginia officials celebrated the news.
Democratic U.S. Sen. Tim Kaine, a member of the Senate Armed Services Committee, said Boeing’s decision was a testament to Virginia’s skilled workforce and strong national security community.
U.S. Sen. Mark Warner, also a Virginia Democrat, indicated the deal had been in the works.
“For well over a year, I’ve been making my case to Boeing senior leadership that Virginia would be a great place for its headquarters, and late last year, I was happy to learn that my efforts were successful,” he said in a statement.