ANNAPOLIS, MD (October 25, 2010) – Governor Martin O’Malley, Montgomery County Executive Isiah Leggett and City of Rockville Mayor Phyllis Marcuccio today announced that Choice Hotels International (NYSE:CHH), one of the world’s largest lodging companies currently headquartered in Silver Spring, today signed a letter of intent with the State, County and City to move its headquarters to Rockville when its current lease expires in 2013.
Since mid-2008, the company has been looking for a new headquarters of 130,000 square feet or more in the Capital Region to accommodate a growing number of employees and is in negotiations to lease office space in Rockville Town Center. Once at their new location, the company plans to add 75 new employees, adding to its current base of approximately 400 employees in Maryland. Also under consideration is a Cambria Suites hotel near the proposed headquarters site to accommodate an estimated 10,000 stays per year generated by employee and franchisee training programs, as well as other community, vendor and hotel developer events.
“Choice Hotels’ decision to continue to invest and create new jobs in Maryland is a great win for the State and for Montgomery County,” said Governor O’Malley. “We know that in today’s global economy, companies have many location choices and we are pleased that we can offer Choice Hotels the kind of highly-skilled, highly-educated workforce, strategic location and outstanding quality of life that will enable the company to continue to grow here for years to come.”
“Over the past two years, we’ve conducted extensive site reviews and considered a number of locations for our new headquarters that will continue to provide our employees with a great working environment. Paramount in our decision was to identify a location convenient to where the vast majority of our employees currently live and which provides easy access to public transportation, as well as shops and services,” said Stephen P. Joyce, president and CEO of Choice Hotels. “Additionally, we are pleased with the support shown to us by the State of Maryland, Montgomery County and the City of Rockville for Choice Hotels to remain in Maryland just 10 miles from our current home.”
“Choice Hotels International has been one of Montgomery County’s leading corporate citizens for the past forty years, so we are thrilled they continue to see the competitive business advantage a Montgomery County, Maryland location brings them,” said County Executive Leggett. “We value every business in Montgomery County, but it is industry-leaders like Choice, who consistently create high-quality jobs, attract highly-skilled employees and display a true connection to their community, that are truly a vital component of our business community. We are grateful Choice will continue to call us home for many more years to come.”
“Rockville Town Center is the ideal location for Choice’s headquarters,” said Mayor Marcuccio. “Choice Hotels will benefit from and contribute to the growing vitality and vibrancy of Rockville’s downtown. The City is thrilled with the company’s desire to relocate here, and welcomes Choice with open arms.”
To help retain Choice Hotels in Maryland, and assist the company with its relocation, the State, County and City are providing $4.3 million in conditional loans and grants that are contingent upon job creation at the new headquarters. In addition, the company is eligible for State, County and City tax credits, including the County’s New Jobs Tax Credit, and could also receive Tax-Exempt Recovery Zone Facility Bonds.
The Choice announcement comes on the heels of other successful Montgomery County company openings, expansions and attractions this year, including Zynegnia, Inc.’s new 14,000-square-foot headquarters in Gaithersburg, Howard Hughes Medical Institute’s $75 million expansion of its world headquarters and conference center in Chevy Chase, expansion of the U.S. Nuclear Regulatory Commission into a new 362,000-square-foot building in North Bethesda, the National Cancer Institute’s new 575,000-square-foot, $200 million satellite campus at the Shady Grove Life Sciences Center in Rockville, QIAGEN’s 117,000-square-foot, $52 million North American headquarters and manufacturing facility expansion in Germantown, EDF Inc.’s new 16,000-square-foot North American headquarters in Chevy Chase, and International Baccalaureate’s new 36,000-square-foot Americas Global Center headquarters in Bethesda.
In the past year, the O’Malley-Brown Administration has implemented an aggressive agenda of new and expanded programs to create jobs, retain jobs and improve the conditions that allow businesses large and small to create and save jobs, including:
· Pioneering the Jobs Creation and Recovery Tax Credit;
· Expanding the Small Business Loan Guaranty program to increase access to credit; and
· Creating InvestMaryland, an administrative and legislative proposal designed to support the growth of the state’s knowledge based industries by stimulating investment in the Maryland Venture Fund.
About Choice Hotels
Choice Hotels International, Inc. franchises more than 6,000 hotels, representing more than 490,000 rooms, in the United States and more than 35 other countries and territories. As of June 30, 2010, more than 580 hotels are under construction, awaiting conversion or approved for development in the United States, representing more than 47,000 rooms, and approximately 100 hotels, representing approximately 8,700 rooms, are under construction, awaiting conversion or approved for development in 20 other countries and territories. The company's Comfort Inn, Comfort Suites, Quality, Sleep Inn, Clarion, Cambria Suites, MainStay Suites, Suburban Extended Stay Hotel, Econo Lodge and Rodeway Inn brands serve guests worldwide. In addition, via its Ascend Collection membership program, travelers in the United States, Canada and the Caribbean have upscale lodging options at historic, boutique and unique hotels. For more information, visit http://www.choicehotels.com/. Choice Hotels, Choice Hotels International, Comfort Inn, Comfort Suites, Quality, Sleep Inn, Clarion, Cambria Suites, MainStay Suites, Suburban Extended Stay Hotel, Econo Lodge, Rodeway Inn and Ascend Collection are proprietary trademarks and service marks of Choice Hotels International.
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