Volkswagen to move U.S. headquarters to Virginia

RP news wires, Noria Corporation

Virginia Governor Timothy Kaine announced September 6 that Volkswagen of America Inc. will move its U.S. corporate headquarters to Fairfax County.

The site also will be the U.S. headquarters for Audi of America, Inc., Audi Financial Services, Volkswagen Credit and other affiliated operations. The company will invest more than $100 million and create 400 jobs for the local economy when it moves into the Herndon area of the county in 2008.

Time magazine this year called Fairfax County one of the great economic success stories of our time, and Volkswagen of Americas decision is further proof of that, said Gerald L. Gordon, Ph.D., president and CEO of the Fairfax County Economic Development Authority (FCEDA). The company will find this to be a great headquarters location because of our highly skilled workforce, ready access to markets around the country and the world through Washington Dulles International Airport, and the high quality of life we enjoy here. We are delighted to welcome Volkswagen of America to our dynamic business community.

The companys new U.S. corporate headquarters will be at 2260 Woodland Pointe Avenue, a 185,000-square-foot building in the Woodland Park business campus, three miles from Dulles Airport. The company intends to occupy the entire building, which is still under construction.

Founded in 1955, Volkswagen of America, Inc. is a wholly owned subsidiary of Wolfsburg, Germany-based Volkswagen AG. The company is No. 16 on the Fortune Global 500 list and is the worlds fourth-largest automobile company.

Volkswagen of America is eager to embark on a long and fruitful partnership with Virginia, and to call Fairfax County home. Virginia is a perfect fit for us as we take our company in an aggressive new direction, said Stefan Jacoby, president and CEO of Volkswagen of America. I thank everyone in the Fairfax County government and community for making us so welcome in our new neighborhood."

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