An Erie native will move the headquarters for his $7 million technology company Federal Resources Corp. to Erie.

The announcement came during a news conference Thursday at the headquarters for the Erie Innovation District.

The company, which is currently located in northern Virginia, provides IT modernization solutions and services that focus on cyber security, cloud, data analytics and infrastructure to the U.S. government.

Initially, Federal Resources Corp. plans to hire between five and 10 employees locally. Their tentative start date will be June 1.

Erie native Jeremy Young operates the company. The 42-year-old D.C. resident said he went elsewhere due to the lack of local opportunities.

Young wants to be part of downtown Erie's renaissance and create opportunities for young professionals who want to stay in Erie.

“The opportunity to leverage the experience I have gained over my career in an industry that allows geographic flexibility creates a unique opportunity to impact the socio-economic landscape of my hometown,” said Young in a news release. “The ability to work with key stakeholders in our community like the Erie Innovation District and Erie Downtown Development Corporation gives business leaders, like myself, confidence and excitement in the future of Erie.”

Young plans to live in the City of Erie and will offer a stipend to employees who agree to live downtown or in close proximity.

He is working with Erie Downtown Development Corporation CEO John Persinger to find suitable office space.

The Erie Innovation District said this is the first-time a business plans to move to Erie and provide jobs as a result of its initiatives, as well as those of the Erie Downtown Development Corporation.