Volkswagen Group of America Celebrates New U.S. Corporate Headquarters in Fairfax County

FAIRFAX COUNTY, Va., Sept. 18, 2008 - Virginia Gov. Timothy M. Kaine, along with state, local, community and business leaders and Stefan Jacoby, President and CEO of Volkswagen Group of America, and other Volkswagen Group officials today celebrated the grand opening of Volkswagen Group of America’s U.S. corporate headquarters in Herndon, Va.

At the event, Volkswagen Group of America announced a $2.1 million philanthropic campaign of targeted support for educational entities in the Virginia/Washington, D.C., region. The funds will provide financial, educational and other needed resources to George Mason University, Virginia Tech, the University of Virginia, Northern Virginia Community College, Fairfax County Public Schools and the Excel Institute in Washington.

“We are happy to have this chance to give something back to our community. We work here, we live here, and we intend to give here,” Jacoby said. “Our five-year education program is comprehensive and will serve as a catalyst for further educational entrepreneurship. It will help students whether they are in high school, technical school, community college, university or graduate school. With all of these programs, we will train teachers so they can share knowledge on automotive safety and environmental technology.”

“Volkswagen Group is a great company to have in Fairfax County, and its announcement today is yet another example of the benefits that economic development creates for our county and our region,” said Gerald L. Gordon, Ph.D., president and CEO of the Fairfax County Economic Development Authority (FCEDA, www.FairfaxCountyEDA.org). “VW Group also gives us greater diversity in the economic base and enhances the county’s renown as a world-class business community.”

Volkswagen Group’s 185,000-square foot building in the Woodland Park business campus, three miles from Washington Dulles International Airport, also is the U.S. headquarters for Audi of America, Inc., Audi Financial Services, Volkswagen Credit and other affiliated operations. The company has invested more than $100 million and created 400 jobs for the local economy with the move to Herndon.

Time magazine called Fairfax County, just outside Washington, D.C., “one of the great economic success stories of our time.” Business growth helps Fairfax County fund public services such as a top-ranked public school system that improve the quality of life. Fairfax County offers a well-educated workforce, diverse real estate opportunities, access to domestic and international markets through Dulles Airport, and a business community based on technology and professional services.

The Fairfax County Economic Development Authority promotes Fairfax County as a business and technology center. The FCEDA offers a range of services to help companies locate and expand in Fairfax County. The FCEDA maintains marketing offices in San Francisco, Bangalore, Frankfurt, London, Seoul and Tel Aviv.