VW Credit Inc. has said on Friday to invest several million dollars for a 30,000-square-foot expand its office in Ill., planning to add about 150 new jobs through 2018.
The expansion that started on Friday will double the size of its Libertyville, Ill. office. According to the company’s statement, the expansion is to accommodate the growth that the German automaker is facing. As a subsidiary of Volkswagen Group of America, VW Credit Inc. provides financial products and services to its dealers and customers.
“VW Credit, Inc. has been experiencing an upsurge in growth in recent years, and we are pleased to be able to create additional jobs to accommodate this growth,” said Andrew Stuart, CEO and President of VW Credit, Inc.
As one of the largest employers in Libertyville, the VW Credit Inc. facility in Illinois currently employs nearly 500 employees. The expansion, according to the company, will include additional workstations and conference rooms, a larger dining area, fitness center, and parking spaces that can accommodate 650 cars.
The auto industry has seen a significant growth recently. Last year, the auto industry sold more than 444,000 units in the United States, which is an increase of 23.3 percent, according to the statement.
“VW Credit, Inc.'s expansion, coupled with increased U.S. sales among our brands during the first quarter of 2012 by 40 percent, aligns with Volkswagen Group of America's ambitious growth strategy,” said Stuart.
Last month, Volkswagen has also announced to add 800 jobs at its plant in Chattanooga, Tenn.