Following the spinoff, the company will be renamed and rebranded as ITT Exelis a new, publicly traded stand-alone company and industry-leading provider of innovative technologies and operational services to meet the requirements of global military, government and commercial customers.
ITT Exelis will have headquarters in the Tysons Corner area of Fairfax County, Va.
The headquarters project will create 100 jobs over the next three to five years across all of its business operations in Virginia.
"We are excited to continue our relationship with the state of Virginia and locate our corporate headquarters in Fairfax County," said David F. Melcher, president of ITT Defense and Information Solutions, who will serve as chief executive officer of ITT Exelis.
"The county's proximity to our customers, its highly skilled workforce and business-friendly climate will allow us to continue to deliver essential products and services to our customers."
ITT's Defense and Information Solutions segment has a strong presence in Virginia with its headquarters in Tysons Corner, its Information Systems division in Herndon and its Geospatial Systems division in Roanoke.