For Immediate Release:
February 2, 2016
Contact:
Hannah Marr hannah.marr@maryland.gov
Shareese Churchill shareese.churchill@maryland.gov
410-974-2316
2U to Open New Headquarters to Accommodate Rapid Growth
Targets Creation of More Than 900 Jobs in the County by end of 2020
ANNAPOLIS, MD – 2U Inc., a leader in technology-enabled education headquartered in Prince George’s County, is moving its headquarters to Lanham to accommodate its growing workforce. 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 and 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.”
In 2015, 2U experienced unprecedented growth through the addition of New York University and Yale University to its partner portfolio and the announcement of eight new 2U-powered programs in 2016 and beyond. 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 company’s priority in developing a rewarding and high-energy work environment earned them a place on the 2015 lists of The Washington Post’s ‘Top Workplace’ and DC Inno’s ’10 Coolest Companies.’
“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.”
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 (MEDAAF) program. Additionally, Prince George’s County is providing a $1.5 million conditional loan through its Economic Development Incentive (EDI) Fund.
“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 TOD (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.”
About 2U, Inc.
2U partners with leading colleges and universities to deliver the world’s best online degree programs so students everywhere can reach their full potential. 2U’s Platform, a fusion of cloud-based software-as-a-service technology and technology-enabled services, provides schools with the comprehensive operating infrastructure they need to attract, enroll, educate, support and graduate students globally. Blending live face-to-face classes, dynamic course content and real-world learning experiences, 2U’s No Back Row® approach ensures that every qualified student can experience the highest quality university education for the most successful outcome. Learn more at 2U.com
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