2U Inc., a Prince George’s County-based technology-enabled education company, is moving its headquarters to Lanham, MD to accommodate its growing workforce. The company expects to create more than 900 jobs in Maryland in the next five years.
“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 to launch 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 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 new headquarters, 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. “The Harkins Road building is located just north of one of those key locations, the New Carrollton Metro Station, where I am confident that 2U will help to bring new energy to this multi-modal location. 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.”
“We purchased this building anticipating that we could position it as a uniquely progressive asset. What we found in 2U was a tenant who shared that vision and pushed the boundaries for redevelopment far beyond what we originally thought possible,” said Cohen Equities Principal Meir Cohen. “While working with the 2U team, they displayed a remarkable degree of care in regards to the kind of workplace they were creating, what it expressed about their corporate culture and what that could mean for their employees and partners. We’re looking forward to helping 2U accomplish their progressive vision for the building.”