Favor TechConsulting expects to create 1,200 new jobs in five years

Favor TechConsulting LLC (FTC), an IT solutions company, plans to invest $1.65 million in expanding in Virginia as it establishes its headquarters in the Tysons Corner area of Fairfax County.

The company expects to create 1,200 new jobs during the next five years.

FTC is a service-disabled veteran-owned, woman-owned and minority-owned small business.

In October, the company announced that it received 10 Department of Veterans Affairs task orders valued at $112 million under the VA’s Transformation Twenty-One Total Technology Next Generation contract.

Last year, the company ranked no. 405 on the 2016 Inc. 5000 list of America’s fastest-growing companies. The magazine listed FTC as having 2015 revenue of $19.2 million and a three-year growth rate of 949 percent. The company ranked No. 256 on the 2015 list.

The Virginia Economic Development Partnership (VEDP) will support Favor TechConsulting’s new job creation through its Virginia Jobs Investment Program (VJIP). State-funded VJIP provides consultative services and funding to companies creating new jobs or experiencing technological change to support employee training activities.