Hyundai building $200 million US headquarters in Fountain Valley
- May 15, 2013
- Jan Brueckner, economics professor and department chair, comments on Southern California Public Radio May 15, 2013
“We simply needed a larger building," said Chris Hosford, a spokesman for Hyundai Motor America, which distributes Hyundai cars in the United States. So Hyundai demolished its old building in Fountain Valley and is spending $200 million on a new facility that will more than double its size to 500,000 square feet. But the company thought about moving elsewhere, including Irvine. City of Fountain Valley officials said Alabama, where Hyundai has a manufacturing plant, was also on the list of possibilities. Fountain Valley didn't offer Hyundai any financial incentives, but Hyundai decided to stay there. UC Irvine economics professor Jan Brueckner said foreign car companies are drawn to Orange County. "They want to keep in touch with the trendy parts of the United States, where fashion trends and car trends are set," Brueckner said.
For a transcript or to listen in, visit http://www.scpr.org/news/2013/05/15/37269/hyundai-building-200-million-u....