FOR IMMEDIATE RELEASE
February 04, 2009

Gordon Hickey
www.governor.virginia.gov
(804) 225-4260


Ellen Gonda
Hilton Hotels Corporation
(310) 205-7676
Suzanne West
VEDP
(804) 545-5806
GOVERNOR KAINE ANNOUNCES HILTON HOTELS CORPORATION TO MOVE HEADQUARTERS TO FAIRFAX COUNTY
-Global hotel giant will invest more than $17 million, create more than 300 jobs-


RICHMOND - Governor Timothy M. Kaine today announced global hotel powerhouse Hilton Hotels Corporation will invest at least $17 million to relocate its headquarters from Beverly Hills, California, to Fairfax County, Virginia. The project will create more than 300 permanent, full-time jobs in Fairfax County within the next 36 months. Virginia successfully competed with Maryland and the District of Columbia for the project.

“Hilton is a globally recognized brand that will be a great corporate addition to Fairfax County,” Governor Kaine said. “Adding this hospitality industry leader to the Commonwealth’s list of corporate headquarters is a major coup for Virginia. I commend everyone involved in bringing Hilton to the Commonwealth.”

Hilton Hotels Corporation is the world’s leading hospitality company, with more than 3,200 hotels and 545,000 rooms in 77 countries and territories, including 135,000 team members worldwide. The company owns, manages or franchises a hotel portfolio of some of the best known and highly regarded brands, including Hilton, Conrad Hotels & Resorts, Doubletree, Embassy Suites Hotels, Hampton Inn, Hampton Inn & Suites, Hilton Garden Inn, Hilton Grand Vacations, Homewood Suites by Hilton, Home2 Suites and The Waldorf Astoria Collection.

“We are pleased to announce that our global headquarters will be located in Fairfax County, Virginia, and are grateful to the Commonwealth and County for their efforts to create such compelling economic incentives for Hilton,” said Christopher J. Nassetta, President and Chief Executive Officer of Hilton Hotels Corporation. “Virginia offers a more central location from which to operate a global organization and will ease coordination across our business, help us to better execute on strategic opportunities and allow us to significantly reduce our costs. The cost and quality of living in the area are also tremendously appealing.”

The Virginia Economic Development Partnership worked with Fairfax County to secure the project for Virginia. Governor Kaine approved a $1 million grant from the Governor’s Opportunity Fund to assist Fairfax County with the project. The Governor also approved $2.5 million in funds from the Virginia Economic Development Incentive Grant (VEDIG). This program 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 wages that are higher than average for that particular area. The company also qualifies for a Major Business Facility Job Tax Credit, a statutory incentive available to all qualifying companies. The Virginia Department of Business Assistance will provide training assistance through the Virginia Jobs Investment Program.

The Hilton relocation is the latest in a series of prominent moves by major corporations to the Commonwealth. Since Governor Kaine took office companies including Philip Morris, Volkswagen, Rolls-Royce, and AREVA, among others have contributed significant investment to Virginia. In the last year alone, Virginia has drawn more than $5 billion in investments that created more than 20,000 new jobs for Virginians.

“It is a great day for Fairfax County and the Commonwealth of Virginia when we can add a corporate headquarters to our business community, and it is a rare day when we can add a corporate name and a good corporate citizen such as Hilton to our business community,” said Gerald L. Gordon, Ph.D., president and CEO of the Fairfax County Economic Development Authority. “Hilton will further diversify the local economy and gives further credence to the many advantages of doing business in Fairfax County and the Commonwealth.”

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