IT and cybersecurity solutions company VariQ Corporation is expanding its presence in Rockville, Maryland. The company plans to add more than 250 jobs in Montgomery County. The company plans to relocate its existing headquarters in the county by moving to a larger, 26,000 square-foot space on Tower Oaks Boulevard.
As an incentive to assist with the expansion, 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.
Additionally, the Montgomery County Department of Economic Development is providing a $100,000 conditional grant through its Economic Development Fund. VariQ currently has 17 employees in Maryland and plans to add the new jobs over the next five years.
“We are pleased to continue supporting the cyber efforts of Maryland-based companies as well as federal and local governments. We are excited for the opportunities ahead,” said Ben Edson, Founder/CEO of VariQ. “We thank the Maryland Department of Business and Economic Development and the Montgomery County Department of Economic Development for their support toward our company’s expansion.”
“VariQ has consistently ranked among the fastest-growing private companies in the country and we are proud to support their expansion here in Maryland,” said Governor Larry Hogan. “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.”