(Washington, DC) – Today, Mayor Muriel Bowser and the Office of the Deputy Mayor for Planning and Economic Development (DMPED) announced that Meridiam has relocated its Americas headquarters to Downtown Washington, DC from New York City. Meridiam, a $20B+ global infrastructure manager focused on the development, financing, and management of sustainable infrastructure projects, is the third awardee of the District’s Vitality Fund. Created through a $10 million investment by Mayor Bowser, the Vitality Fund is a multi-year, performance-based incentive program designed to support companies in target industries that are actively planning to relocate, expand, or retain their physical location and create new jobs in the District.
“This is all part of the comeback of Downtown DC. Washington, DC continues to attract global companies like Meridiam that want to be in the nation’s capital and have access to world-class talent,” said Mayor Bowser. “There are many reasons top employers want to be in DC – our workforce and proximity to changemakers, our arts and culture scene, our beautiful parks and world-class transit system – and tools like the Vitality Fund help make the decision even easier for businesses.”
Meridiam Infrastructure North America Corporation is a subsidiary of Meridiam, a certified Benefit Corporation (B Corp) globally headquartered in Paris, France. The Americas headquarters was previously in New York City. Through this relocation, Meridiam is projected to create 60 new jobs in the District. The new headquarters occupy over 20,000 square feet at 1700 Pennsylvania Avenue, NW.
“Washington, DC is the perfect home for Meridiam in the Americas,” said Nicolas Rubio, CEO Americas of Meridiam. “We partner with the public sector over the long-term on sustainable infrastructure projects that seek to improve people’s daily lives. As a global hub for global decisionmakers, engineering services, development banks, and sustainability leaders, DC is the natural place for Meridiam to put down roots and continue to grow. We are grateful to Mayor Bowser and her team for their commitment in helping to bring our new Americas headquarters to life.”
Committed to social and environmental sustainability in its investments, Meridiam specializes in the development, financing, and management of large-scale public infrastructure projects, including transportation, low-carbon solutions, and public service projects. This includes the development of the Purple Line and I-66 managed lanes, important metro-area transportation projects supporting mobility in the Washington, DC region.
“The Vitality Fund is an important tool for the District to attract companies like Meridiam to DC,” said Nina Albert, Acting Deputy Mayor for Planning and Economic Development. “We know the District is a great place for companies to do business, and the investments we have made in the Vitality Fund make that case even stronger. We’re excited that Meridiam has chosen DC for its Americas headquarters and is creating new jobs for District residents.”
To be eligible for the Vitality Fund, companies must:
- Have at least 25 employees;
- Agree to lease or own at least 7,000 square feet for a minimum of five years;
- Do business in an eligible target industry; and
- Be actively considering relocating or expanding its office in DC.
Companies that receive an award from the Vitality Fund must also commit to having their employees on-site at least 50% of the time; provide workforce development programs or commit to local contracting; and comply with all relevant District laws.
Mayor Bowser has previously announced two other Vitality Fund participants—Virtru and Quadrant Strategies. Together, these companies will create an estimated 275 new jobs, lease 33,000 square feet, and invest $6 million in their office spaces. The projects are expected to generate $1.8 million in tax revenue for the District.
DMPED, in partnership with the Washington DC Economic Partnership (WDCEP), continues to invest in programs and initiatives to attract businesses in high-growth sectors to Washington, DC. Businesses considering relocation or expansion should visit obviouslydc.com/vitalityfund for more information about the Vitality Fund. Information about DC’s Comeback Plan can be found at comeback.dc.gov.
To learn more about resources and funding to support DC small businesses, visit obviouslydc.com.