In a meeting today with California Gov. Arnold Schwarzenegger, Hyundai Motor Company Chairman Mong-Koo Chung committed to build a new North American headquarters in Orange County Hyundais home since its arrival in the United States in 1985. The new building will be constructed on Hyundais current Fountain Valley campus, securing the companys long-term future in California. Hyundai will invest about $150 million, the largest investment ever made by Hyundai Motor Company in the state. During the approximately two-year project, it is estimated that as many as 1,530 new construction jobs will be created with a $273 million total economic output, according to the Los Angeles County Economic Development Corporation.
The new facility will double the size and occupant capacity of the current headquarters. Plans call for approximately half-a-million square feet in floor and garage space, growing considerably from todays current 220,000 square-foot structure. Capacity will grow to approximately 1,400 occupants, up from 700. Construction is expected to begin in mid 2011 and be completed by the end of 2012. Hyundai employees will work from temporary office space in Orange County during that time. In line with Hyundais commitment to sustainability, all construction will be LEED certified.
This investment ensures that Orange County will remain Hyundais U.S. hub, with our headquarters in Fountain Valley, for the foreseeable future, said John Krafcik, president and CEO, Hyundai Motor America. The new building will give us the flexibility to grow with our brand, reflect our modern design sensibility, and showcase our commitment to sustainability.
Hyundai Motor Company has grown to become the fifth largest automotive company in the world, taking the global leadership position thanks to its focus on quality and innovation. California in particular is a critical market for Hyundai and a barometer of success in the United States. Since its start in 1985, Hyundai has housed its U.S. Headquarters in California, contributing vastly to the states economy. Currently, in California, the company:
Employs approximately 1,400 people
Invested $152 million in facility development
Oversees 63 franchised California dealers
Hyundai Facilities Across California
California City Proving Grounds
Chino Technical Center
Costa Mesa Logistic Operations
Fountain Valley Regional Sales Office
Fountain Valley Hyundai Motor America, U.S. Headquarters
Huntington Beach Innocean Worldwide Advertising
Irvine Design and Technology Center
Irvine Hyundai Capital
Ontario Parts Distribution Center
Port Hueneme Richmond Port Vehicle Processing