RICHMOND – Governor Terry McAuliffe today announced that Favor TechConsulting, LLC (FTC), a leading provider of IT solutions to the federal government, will invest $1.65 million to expand in Virginia and establish its principal headquarters in Fairfax County. The company will fulfill additional contracts with federal agencies, creating up to 1,200 new jobs over five years.
“Founded in the Commonwealth, Favor TechConsulting is a designated service-disabled, veteran-owned, woman-owned, and minority-owned small business, and is one of the fastest growing private companies in America,” said Governor McAuliffe. “This remarkable IT company provides vital services to improve government and veteran healthcare, and its exponential growth illustrates how Virginia’s infrastructure and regulatory environment promotes success in businesses of all sizes. We are confident that FTC will benefit from the dynamic technology workforce pipeline in Fairfax County, and we celebrate another step forward in our ongoing efforts to diversify and build a new Virginia economy.”
“FTC is an important member of our corporate roster of thriving, Virginia-headquartered IT companies,” said Secretary of Commerce and Trade Todd Haymore. “With the second-highest concentration of tech workers in the country, Virginia has become an epicenter for the IT industry. The Commonwealth’s robust workforce is bolstered by our acclaimed higher educational system, which produces nearly 4,000 IT-related degrees every year. These skilled workers stay in Virginia, thanks to quality job opportunities provided by companies like Favor TechConsulting, which has been named to the prestigious Inc. 500 list for a second year in a row.”
Favor TechConsulting, LLC delivers leading edge information management and information technology (IM/IT) services to a wide variety of federal government clients. The company’s success is built upon a proactive, customer-centric, and best practices-based approach which incorporates continuous process improvement. This focus on excellence extends to all aspects of client organization, resulting in a client partnership which is flexible, transparent, and responsive, providing services and products that organizations can rely upon. FTC offers a wide variety of IT services to support enterprises at every level, which include management consulting, cloud computing, Agile software development, Agile implementation and coaching, business intelligence and data analytics, logistics support, IT infrastructure, cybersecurity, and other IM/IT services.
“FTC is very excited to be a part of the Commonwealth of Virginia’s and Fairfax County’s efforts in diversifying and expanding its economy and job market,” said Vaseal Montgomery, Founder and CEO, Favor TechConsulting. “One of our core corporate tenets is that our people drive FTC success. With the support and participation in the Virginia Jobs Investment Program, we will continue to improve and grow FTC. We truly appreciate being recognized and afforded the opportunity to participate in a program that is so vital to the community.”
The Virginia Economic Development Partnership (VEDP) will support Favor TechConsulting’s new job creation through its Virginia Jobs Investment Program (VJIP). VJIP provides consultative services and funding to companies creating new jobs or experiencing technological change to support employee training activities. As a business incentive supporting economic development, VJIP reduces the human resource costs of new and expanding companies. VJIP is state-funded, demonstrating Virginia’s commitment to enhancing job opportunities for its citizens.
“Fairfax County is a great location for Favor TechConsulting to grow because the county economy is so strong in IT and professional services, has the kind of IT-savvy workforce that the company needs, proximity to a huge number of public- and private-sector clients, and has the kind of educational offerings and amenities that companies want for their employees,” said Gerald L. Gordon, Ph.D., president and CEO of the Fairfax County Economic Development Authority. “We are honored to welcome FTC to the business community.”
“I am very pleased that Favor TechConsulting is continuing to expand its business and to create more good jobs in Virginia,” said Delegate Mark Keam. “This news affirms what we already know, that Northern Virginia is the best place for innovative tech firms to launch and to grow. As Tysons becomes America’s next great city, I am proud to have such a dynamic veteran, woman, minority-owned company as FTC leading the transformation.”