Commercial real estate data giant CoStar Group Inc. said Friday it is embarking on the construction of an expanded corporate campus in Richmond that will ultimately house 3,000 of its employees.
The D.C.-based company is investing $460 million into the project, according to the Virginia governor’s office. CoStar said it considered a variety of alternatives for its expansion but settled on Richmond because of its pool of college-educated talent, as well as “efficiencies of scale with existing operations and state and local support for the project.”
The project will result in 2,000 new jobs for the company, according to the governor’s office. CoStar already has a big presence in Virginia’s capital city, opening its research headquarters there in 2016 and growing its local headcount to a little more than 1,000. CoStar said the new hires will make it the largest technology company in Richmond and one of the city’s largest employers.
