FOR IMMEDIATE RELEASE
September 06, 2007

Kevin Hall
www.governor.virginia.gov
(804) 225-4260


Mindy Noonan
Volkswagen of America, Inc.
248-754-4391
Christie Miller
VEDP
(804) 545-5805
Governor Kaine Announces Volkswagen To Locate U.S. Headquarters In Fairfax County
-Volkswagen to invest more than $100 million, create 400 jobs-


RICHMOND - Governor Timothy M. Kaine today announced that Volkswagen of America, Inc. will invest more than $100 million to relocate its U.S. corporate headquarters to Fairfax County. The new 185,000-square-foot facility in Woodland Park business park will serve as the U.S. headquarters for Volkswagen of America, Inc., and will include the U.S. headquarters for Audi of America, Inc., Audi Financial Services, Volkswagen Credit and other affiliated operations. The project will create 400 new jobs in Fairfax County.

“Volkswagen’s decision to locate in Virginia is a strong affirmation of the Commonwealth’s business-friendly environment, location, market access and infrastructure,” said Governor Kaine. “The caliber of companies already located in this region and the proximity to Washington Dulles International Airport were significant factors in the company’s decision.”

Founded in 1955, Volkswagen of America, Inc. is a wholly-owned subsidiary of Volkswagen AG, headquartered in Wolfsburg, Germany. Volkswagen is the world’s fourth largest producer of passenger cars and is Europe’s largest automaker.

“This move is part of our company’s new corporate strategy of connecting even more closely with our customers, and encouraging fresh ideas and bold thinking,” said Stefan Jacoby, CEO of Volkswagen of America. “Virginia’s workforce and business culture are in line with that strategy, and its location is convenient to vitally important markets for all our brands. We are excited to become part of the Virginia community.”

The Virginia Economic Development Partnership worked with Fairfax County to secure the project for Virginia. Governor Kaine approved $1.5 million from the Governor’s Opportunity Fund to assist Fairfax County with the project. The Governor also approved $4.5 million in funds from the Virginia Economic Development Incentive Grant (VEDIG). VEDIG was established as a self-funded program of performance-based incentives that the Commonwealth awards to exceptional economic development projects with large numbers of employees and very high wages relative to average wages for that particular area. The Virginia Department of Business Assistance will provide training and training assistance through the Virginia Jobs Investment Program.

“Fairfax County is delighted to welcome Volkswagen of America to our community,” said Gerald E. Connolly, Chairman of the Fairfax County Board of Supervisors. “Volkswagen of America will find Fairfax County to be an excellent U.S. headquarters because of the highly skilled workforce, access to Europe and the world through Washington Dulles International Airport, and the high quality of life we enjoy here.”

In July, Governor Kaine announced that Virginia again led the nation in Forbes.com’s “Best States for Business” ranking, achieving top honors for a second consecutive year. The Forbes review examined multiple objective measurements, including business cost, regulatory climate, quality of the workforce, and economic growth. Forbes.com is the official Internet site of the Forbes family of business publications.

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