Two Arlington-based companies are set to receive incentive-based economic development grants as they expand in the county.
Rosslyn-based technology company Higher Logic and Clarendon-based media firm Axios are both in line to receive $60,000 each under the county’s incentive-based Gazelle Grant program. The program, administered through Arlington Economic Development, encourages businesses to move into or stay in Arlington.
Under the terms of the grants, both companies must commit to leasing a certain amount of office space and creating more full-time jobs. If they do not fulfill the terms as of December 31, 2020, they will be required to pay back at least some of the grant.
For its grant, Higher Logic must lease at least 31,000 square feet of office space, maintain its existing 107 full-time jobs and create 133 new full-time positions.
Founded in 2007, Higher Logic had been exploring a new location for its headquarters, having expanded to take up 15,000 square feet by 2015. It will move to 1919 N. Lynn Street in Rosslyn and occupy an entire floor of the building on a 10-year lease.
Axios, meanwhile, must lease at lease 15,000 square feet of office space, maintain its existing 60 full-time jobs and create 60 new full-time positions.
Having initially located at the MakeOffices coworking space at the office building at 3100 Clarendon Blvd, Axios is set to expand into the 13th floor at the same address and sign a 10-year lease.
The Arlington County Board will vote on whether to award the grants at its meeting Saturday (January 27). Staff recommended approval of both.