Market Overview

States Vie To Be Northrop’s New Home (NOC, CBG)


Northrop Grumman (NYSE: NOC) is planning to shift its headquarters from Los Angeles to the Washington D.C. area. Local governments are in a frenzy to land the company. Northrop Grumman (NOC) has consulted CB Richard Ellis (NYSE: CBG) and has focused on several locations in Maryland, Virginia and the District of Columbia. The military contractor is expected to make a final choice within a month.

The move will involve relocating 300 personnel. According to Northrop, the relocation has been undertaken in order to be close to its “largest customer base in the Washington, D.C., region”. Company representatives have made several visits to the capitals of Maryland and Virginia to discuss their proposals. Gaston Kent, vice president for finance at Northrop, said “Our process is open and transparent because that’s the way we do business.

Posted-In: News Wall Street Journal Intraday Update Markets


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