Alarm.com, which makes smart home and business security systems, will invest $2.6 million to expand its technology research & development division at its headquarters in Tysons, Virginia.
The company will hire an additional 180 employees as part of its growth.
Alarm.com, headquartered at 8281 Greensboro Drive in Tysons, currently has 700 employees in Virginia and about 1,500 employees companywide.
“Alarm.com, which has office locations in several other states, chose to make this investment in Virginia due to Northern Virginia’s strong workforce, including its high concentration of STEM workers, numerous higher education institutions, and desirable quality of life,” said Victoria Schillinger, vice president of human resources at Alarm.com.
“It was only a decade ago that our company was 10% of the current size, and with our passion for research, development and technology, we look forward to welcoming new talent to our team.”
The company is eligible to receive $700 per new job created, up to $126,000 for 180 jobs, from the Virginia Jobs Investment Program, once the new hires have been on the company’s payroll for at least 90 days.
Alarm.com, founded in 2000, had $749 million in total revenue last year, a 21.2% increase over 2020 revenue. It forecasts 2022 revenue of as much as $819 million.
The company’s products integrate with Internet of Things devices through apps and interfaces, and include security, video, access control, automation and energy management, such as smart thermostats.
