2U Inc. Relocates To Expanded Operations Center In Lanham, Maryland
According to the Maryland Department of Commerce, the company is targeting the creation of more than 900 jobs in the county in the next five years and is leasing space at 7900 Harkins Road, located within the New Carrollton Transit Oriented Development site.
“We’re investing in our future and the 2U team with a new state-of-the-art facility that will match our unique corporate culture,” said 2U CEO/Co-founder Chip Paucek. “With the assistance of the Maryland Department of Commerce and Prince George’s County, our new headquarters will support our growth as we continue to acquire new university partners, launch new programs and empower the world’s greatest universities as they build great digital versions of themselves.”
To assist with the expansion, the Maryland Department of Commerce is providing a $2 million conditional loan through the Maryland Economic Development Assistance Authority and Fund program. Additionally, Prince George’s County is providing a $1.5 million conditional loan through its Economic Development Incentive Fund.
“Working with 2U and our partners in Prince George’s County, we are proud to support this innovative company’s new headquarters and the creation of hundreds of new jobs,” said Governor Larry Hogan. “Thanks to visionary companies like 2U, we are continuing to see the creation of exciting job opportunities throughout Maryland – opportunities which are helping to strengthen our private sector and provide a healthy, thriving economy for all Marylanders.”
“2U has made tremendous progress in online education since it was formed in 2008 and is now among the fastest growing companies in Maryland,” said Commerce Secretary Mike Gill. “We are excited to see this pioneering company continue to grow in Maryland and commend them on their innovative approach to empower universities and colleges to educate the leaders of tomorrow.”
“2U’s decision to relocate to the once vacant Harkins Road building is a major victory for Prince George’s County. Not only have we successfully retained an award-winning technology business that is recognized as one of the fastest growing companies in the Washington region, it also supports our Transit Oriented Development strategy to expand this type of development at key locations around the County,” said County Executive Rushern L. Baker, III. “2U’s decision to grow in Prince George’s County demonstrates that we are continuing to retain and attract companies to the County. It also is evidence that we are making great progress and dramatically improving the business climate here, so that businesses come and stay.”
Supply Chain Bottlenecks Creating New “Logistical Hotspots”
The “Great Resignation” Is Impacting Corporate Relocations
Workforce Q4 2021
Changes in the Incentives Landscape
2020 Top States for Doing Business Showcase Their Pro-Business Environments
2021 Gold & Silver Shovel Awards Recognize State and Local Economic Development Efforts
How an International Business Can Enter the U.S. Market Via M&A