Business Facilities - November 2007 - (Page 46)

CORPORATE MOVES Virginia By Michelle Janowitz Volkswagen Takes U.S. Headquarters to Virginia n September, Volkswagen of with that strategy, and its location America, Inc. announced its is convenient to vitally important intentions to invest more than $100 markets for all our brands. We are million to relocate its U.S. corpo- excited to become part of the Virrate headquarters in Auburn Hills, ginia community.” MI, a suburb outside the nation’s Nearly $6 million in incentives automotive capital, to a Virginia were authorized by Governor Tim suburb outside Kaine to help the nation’s secure Volkcapital. The swagen’s new 185,000investment. square-foot The incentives facility in the include $1.5 Woodland Park million from business park in the Governor’s welcomed Volkswagen Herndon, VA Virginia Governor Tim Kaineduring an event held Opportunity of America to Herndon, VA (part of Fairfax in September outside of the company’s new Fund to help headquarters facility. County) will Fairfax County not only serve as the U.S. headquar- accelerate road and land projects to ters for Volkswagen, but will also ease Volkswagen’s move, and $4.5 include the U.S. headquarters for million from the Virginia EcoAudi of America, Inc., Audi Finan- nomic Development Incentive cial Services, Volkswagen Credit, Grant to be doled out over five years and other affiliated operations. beginning in 2011, hinging on the Regarding the 1,400 workers company meeting employment and employed in Auburn Hills, the com- investment benchmarks. pany plans to cut 400 positions, In addition, the Virginia transfer 400 people to the new head- Department of Business Assistance quarters in Herndon, and keep 600 will provide training assistance people employed in Auburn Hills through the Virginia Jobs Investwhere the company will still house ment Program. certain business activities. This new investment by Volk“This move is part of our com- swagen would be the largest in pany’s new corporate strategy of Fairfax County since November connecting even more closely with 2004, when the strategic manageour customers, and encouraging ment and technology consulting fresh ideas and bold thinking,” says firm Booz Allen Hamilton Stefan Jacoby, CEO of Volkswagen unveiled plans to invest $133 milof America. “Virginia’s workforce lion over five years, creating up to and business culture are in line 4,600 jobs. I Greater Richmond Lands 600 Jobs Through Medical Lab Expansion B ostwick Laboratories™—a medical laboratory providing services to physicians, patients, and managed care organizations—recently revealed plans to invest $4.6 million to expand its headquarters in Glen Allen, VA (part of the Greater Richmond, VA area). The expansion will result in 600 new jobs for the area over the next three years. Through the help of the Virginia Economic Development Partnership, the company is eligible to receive the Major Business Facility Jobs Tax Credit to help with this project. “The decision to expand our facilities in Virginia was based on the Richmond area’s available labor pool, favorable cost of living, quality of life, and centralized East Coast location,” notes Dr. David Bostwick, president and CEO of Bostwick Laboratories. In 2005, the Greater Richmond Chamber of Commerce recognized Bostwick Laboratories as one of the fastest growing enterprises in the area for the last five years. PHOTO CREDITS: VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP 46 NOVEMBER 2007

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Business Facilities - November 2007 Contents First Words Snapshots Metro Spotlight: Indianapolis Region, Indiana Georgia's Pursuit of Industry Extreme Technology Sites A Tennessee Trifecta A Watershed Moment for Philly Metro Spotlight: Mexico-Texas Border Region High Tech and Aerospace Heat up in Arizona Meeting the Information Technology Challenge IEDC Announces 2007 Winners Corporate Moves: Alabama Northeast Arkansas Scores Major Investments Corporate Moves: Virginia Metro Spotlight: Martinsville-Henry County, VA Renewable Michigan Advertiser Index Ask the Expert

Business Facilities - November 2007

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