A tech conglomerate’s corporate relocation to Innsbrook has landed the Richmond region its newest Fortune 1000 company.
ASGN Inc., an IT and professional services firm with subsidiaries that include locally based Apex Systems, announced Monday that it’s moving its corporate headquarters from California to the Henrico office park, where it will share Apex’s building at 4400 Cox Road.
ASGN plans to invest $5 million in the move and $12.4 million in the state overall, with increased operations in Roanoke, Virginia Beach and other locations. The investment is expected to create 700 new jobs, 121 of those in Henrico.
Virginia competed with Massachusetts to land ASGN, which is ranked 698 on the Fortune 1000 list. Its subsidiaries include two located in Virginia: Apex, an IT staffing firm, and Fairfax-based ECS, a government IT contracting arm that earlier this year absorbed the federal division of Blackstone Technology Group in an $85 million deal.
In a statement included in Gov. Ralph Northam’s announcement Monday, ASGN CEO Ted Hanson said the presence of those subsidiaries in Virginia factored into the company’s decision to move its headquarters here.
The company worked with the Virginia Economic Development Partnership on the move, with involvement from Henrico County, the City of Virginia Beach, the City of Roanoke, the Hampton Roads Alliance and the Roanoke Regional Partnership. ASGN is eligible to receive state benefits for enterprise zone location and job creation. The state also approved $900,000 from the Commonwealth’s Opportunity Fund to assist with the projects.
Anthony Romanello, executive director of the Henrico County Economic Development Authority, described the relocation as quick, with wheels getting in motion as recently as March. Henrico supervisors discussed the relocation in a closed session earlier this month.
“Some of their corporate officers are from Virginia. I suspect that was part of it,” Romanello said of the move. “Obviously they had a lot of choices in terms of where to locate. I think having the Apex subsidiary here certainly made it attractive to them coming into Henrico.”
Brian Callaghan, Win Sheridan and Jeff Veatch founded Apex in Richmond in 1995. ASGN acquired it in 2012 for $600 million. Callaghan, who served as co-CEO before the sale, also is an investor and entrepreneur who owns a minority stake in the Richmond Flying Squirrels.
Apex employs about 4,000 workers across Virginia, with most located in Henrico, Northern Virginia, Roanoke and Virginia Beach.
ASGN provides IT and professional consulting services in technology, digital, creative, engineering and life sciences fields. Its client base covers commercial and government sectors in North America and Europe. The company’s shares are traded on the New York Stock Exchange.
ASGN joins 10 other locally based companies that are on the Fortune 1000 list. They include seven Fortune 500s: Altria, Performance Food Group, CarMax, Markel, Dominion Energy, Owens & Minor and Genworth Financial. Others on the larger list include Brink’s (669), Universal (935) and NewMarket (950).