Volkswagen of America, Inc. Revs Up With New U.S. Corporate Headquarters in Fairfax County

FAIRFAX COUNTY, Va.--Virginia Governor Timothy Kaine announced today 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 America’s 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 FCEDA (www.FairfaxCountyEDA.org) worked with the Virginia Economic Development Partnership on the project.

The company’s 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 number 16 on the Fortune Global 500 list and is the world’s 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."

Business growth helps Fairfax County fund public services such as a top-ranked public school system that improve the quality of life. On October 24-25, 2007, Fairfax County will host the 2007 National Conference on the Creative Economy (www.creativeeconomies.org) to help companies and communities attract and retain high-level talent.

The Fairfax County Economic Development Authority promotes Fairfax County as a business and technology center. The FCEDA maintains offices in Silicon Valley, Bangalore, Frankfurt, London, Seoul and Tel Aviv.