Last week, we learned that Hilton Hotels Corporation is planning a move from their current Beverly Hills location to Fairfax County in Virginia. The move could help the state’s economy. The company has 3,200 hotels and 545,000 rooms in 77 countries, and the move to Fairfax County is anticipated to create more than 300 permanent, full-time jobs there within 36 months.
In a statement, CEO of the Fairfax County Economic Development Authority (FCEDA) Gerald L. Gordon, Ph.D. noted that Hilton will diversify Fairfax County’s tax base as it creates jobs and leases office space, he also stated that the exposure associated with the company will spotlight Fairfax County as a location for further business growth. The FCEDA worked with the Virginia Economic Development Partnership to create a $4.6 million incentive package that secured the project for Virginia. Hilton also qualifies for a Major Business Facility Job Tax Credit. The Virginia Department of Business Assistance will provide $162,500 in training assistance through the Virginia Jobs Investment Program.
In 2007, two other big-name companies decided to relocate their headquarters to Fairfax County: Volkswagen Group of America and CSC (formerly Computer Sciences Corporation). Hilton is currently negotiating with possible landlords and will invest $17 million in the move.