Hilton Hotels Corporation to move headquarters from Beverly Hills to Fairfax County

Ellen Gonda, Hilton Hotels, ellen.gonda@hilton.com, 310-205-7676 (o)

Wednesday, February 4, 2009

Virginia Governor Timothy M. Kaine announced today that Hilton Hotels Corporation will relocate its headquarters from Beverly Hills, Calif., to Fairfax County. The company will invest at least $17 million in the move and create more than 300 permanent, full-time jobs in Fairfax County within 36 months. Hilton is negotiating with prospective landlords in Fairfax County and will announce a site when a lease is finalized.

Gerald L. Gordon, Ph.D., president and CEO of the Fairfax County Economic Development Authority (FCEDA, www.FairfaxCountyEDA.org), noted that Hilton will diversify Fairfax County’s tax base as it creates jobs and leases office space. Building the tax base is important as the Fairfax County Board of Supervisors funds programs for a growing population and supports the county’s quality of life.

“We are fortunate to have had the opportunity to work with Hilton on this decision,” Gordon said. “In addition to enhancing the local tax base and improving the quality of life for our residents, this announcement greatly enhances the prestige of Fairfax County as a location for further business growth.”

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. The Hilton decision follows moves announced by Volkswagen Group of America and CSC (formerly Computer Sciences Corporation) in 2007 to relocate their headquarters to Fairfax County.

The FCEDA worked with the Virginia Economic Development Partnership to create a $4.6 million incentive package that secured the project for Virginia. Governor Kaine approved a $1 million grant from the Governor’s Opportunity Fund to match $1 million in incentives granted by Fairfax County. The Governor also approved $2.5 million in funds from the Virginia Economic Development Incentive Grant program. Hilton 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 $162,500 in training assistance through the Virginia Jobs Investment Program.

Video interview with the FCEDA's Dr. Gordon