$300K Investment By Tysons-Based Nodal Exchange To Create 37 Jobs
TYSONS, VA — Nodal Exchange, a derivatives exchange that provides price, credit, and liquidity risk management solutions, will invest $300,000 to increase the capacity of its capacity in Fairfax County. This will create 37 new jobs at the company’s headquarters in Tysons.
“Nodal Exchange offers the largest suite of power and environmental contracts in the world, and we are proud that this Virginia-grown business manages risk in such a critical market, resulting in impressive growth at its headquarters in Fairfax County,” Gov. Glenn Youngkin said, in a release on Friday. “Northern Virginia boasts a deep bench of talent to support a range of industries, and we are pleased to see another corporate partner expand and create 37 high-quality jobs.”
Nodal Exchange began as startup 15 years ago and has grown into a thriving Virginia business, according to Secretary of Commerce and Trade Caren Merrick.
“The advantages of a Fairfax County location attract and retain leading firms, and a renowned workforce remains one of its greatest assets,” she said. “We thank Nodal Exchange for its commitment to the Commonwealth and look forward to a continued partnership.”
Paul Cusenza, chairman and CEO of Nodal Exchange and Nodal Clear, sees Fairfax County as an ideal location to attract and retain an outstanding professional team.
“We are thrilled to be able to continue to grow and further expand here,” he said, in a release. “It is a wonderful location with a highly educated and diverse workforce. It is also centrally located for our trading and clearing community and in close proximity to our regulators in Washington, D.C.”
Fairfax County Board Chair Jeffrey McKay and State Sen. Janet Howell both congratulated Nodel Exchange on its choice to invest in Fairfax County.
“We are excited about Nodal Exchange’s growth and expansion in Tysons, further demonstrating that Fairfax County continues its national leadership as an innovation hub,” McKay said.
Fairfax County Economic Development Authority and the Virginia Economic Development Partnership teamed up to secure the project for the county. They will continue to work support Nodal Exchange’s job creation effort via the Virginia Jobs Investment Program.
Nodal Exchange’s headquarters is located at 1921 Gallows Road in Tysons.