Two people who are familiar with the situation said that Boeing (NYSE) Co will be moving its corporate headquarters to Arlington in Virginia from Chicago.

This move is likely to be made as soon as next week. It comes in the wake of successive crises, industrial problems, and Boeing’s efforts to repair relationships with U.S. regulators, lawmakers, and customers. Arlington, which is across the Potomac River to the U.S capital.

Boeing spokespeople were unable to comment immediately.

Reuters reported in October that Boeing has made cost-cutting and a more personal corporate culture a concern. This raises questions about the long-term prospects for Chicago and what direction Boeing will take to regain its momentum.

Chicago Headquarters – an impressive 36-story skyscraper overlooking the Chicago Riverfront and valued at $200 million – is located in the middle of cost-cutting campaigns that have seen Boeing reduce real estate including its Seattle commercial aircraft headquarters.