Booming Online Company 2U Picks New HQ in PG County

LANHAM, MD — Loans totaling $3.5 million from the state and Prince George’s County have persuaded education-technology firm 2U Inc. to keep its headquarters in the area as it adds 900 jobs in the next five years.

The education technology company has outgrown its offices in Landover, and will move less than a mile away to 7900 Harkins Road in Lanham, reports the Washington Business Journal.

The Maryland Department of Commerce is providing a $2 million conditional loan to the company, while Prince George’s County is offering $1.5 million in loans. County Executive Rushern Baker says the loans helped the county retain one of the area’s fastest-growing companies.

“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 TOD (Transit Oriented Development) strategy to expand this type of development at key locations around the County,” Baker said. “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.”

2U CEO and co-founder Chip Paucek said the new headquarters will support the company as it acquires new university partners, launches new programs and empowers universities as they build “great digital versions of themselves.”

In 2015, 2U’s growth included the addition of New York University and Yale University to its partner portfolio and the announcement of eight new 2U-powered programs to launch in 2016 and beyond.

The company is taking over space vacated by Computer Sciences Corp, which left the 12-story building in 2013. 2U Inc. will move into 169,423 square feet of office space, but that will grow to 252,952 square feet by early 2017.

The new site is close to the New Carrollton Metro station and Amtrak and Greyhound terminals.

From 2010 to 2015, 2U grew its workforce from 98 to 1,007 employees, including more than 600 employees currently working in Prince George’s County, the firm says. The company’s priority in developing a rewarding and high-energy work environment earned it a place on the 2015 lists of The Washington Post’s ‘Top Workplace’ and DC Inno’s ‘10 Coolest Companies.’