October 20, 1997

Jill Lawrence
(804) 371-0049
Governor Announces $14 Million Investment in Loudoun and Fairfax Counties
-- Fuisz Technologies Increases Virginia Presence, Adds 270 Jobs - -

Richmond - Governor George Allen today announced that Fairfax County-based Fuisz Technologies Ltd. has inaugurated a new food ingredient research and manufacturing facility in Loudoun County, investing $1 million and creating 70 new jobs. Fuisz, a leading innovator in the fields of advanced drug delivery and food ingredient technologies, will also invest more than $13 million this year in the expansion of their Fairfax County headquarters, creating 200 new jobs.

"Once again, Virginia's pro-business tax and reasonable regulatory policies have attracted further investment by a high-technology company, further securing our reputation as the Silicon Dominion," said Governor Allen. "Fuisz Technologies' decision to expand their operations in Fairfax County and set up new operations in Loudoun County is a vote of confidence in Virginia's most valuable asset -- our people."

Since its founding in 1988, Fuisz has invested approximately $14 million in its Fairfax County headquarters, and plans to invest $13 million more by years end. The new Loudoun County facility, a 17,000-square-foot building in Sterling, will concentrate on research and development of food and nutritional supplement products. Fuisz has an international presence including Dublin, Ireland; Paris, France; and Padova, Italy.

"The location and continued development of our Northern Virginia facilities has provided our growing international operations with several long term strategic benefits including easy access to Dulles International Airport and close proximity to key regulators located in Washington, D.C.," said Ken McVey, chief executive officer of Fuisz Technologies Ltd. "In addition, the importance of a well-educated pool of potential employees - and quality of life for current and relocated employees - cannot be overstated."

The Virginia Economic Development Partnership, the Loudoun County Department of Economic Development and the Fairfax County Economic Development Authority assisted the company with its decisions.

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