Educational technology firm 2U has plans in the works to relocate its HQ, but won’t be moving that far away from its current digs.
The interactive online course provider has agreed to an incentives package of state and county funds worth an estimated $3.5M to remain in Prince George’s County. The company will stay in New Carrolton and relocate to a larger building at 7900 Harkins Rd, the Washington Post reports.
By 2019, 2U plans to double its current workforce from 650 employees to 1,315, followed by the addition of another 300 employees to its roster by 2020. The company is initially signed-on for 168k SF at 7900 Harkins, a number that will increase to 252k SF by 2020.
2U was founded as 2tor Inc back in 2008 and went public in 2014. The company partners with colleges and universities, including Georgetown, NYU and Yale, to provide interactive online courses and boasts a current market valuation of around $870M.
Retaining one of the fastest growing public firms in the DC area is a big win for Prince George’s County and helps to advance initiatives by county executive Rushern Baker, who has helped to usher in the county’s transformation. [WaPo]
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