“Wells Fargo’s decision in choosing Irving-Las Colinas for its corporate office marks one of the largest real estate deals in our community in the last two decades,” said Beth A. Bowman, President and CEO of the Greater Irving-Las Colinas Chamber of Commerce and the Irving Economic Development Partnership. “We look forward to integrating their team into Irving-Las Colinas and building a strong partnership that will benefit both the company and the community in the future.”
Volkswagen Picks Port Freeport For New Gulf Coast Hub
Earlier this month, Volkswagen Group of America, Inc. selected Port Freeport as the new major Gulf Coast hub for its future vehicle logistics port operations, in collaboration with Port Freeport and developer PRP and KDC. With a 20-year lease agreement, Volkswagen Group of America aims to further improve vehicle logistics efficiency and increase importation capacities to serve nearly 300 dealers in the U.S. The new port facilities are set to be operational in early 2024.
Volkswagen Group of America, Port Freeport and developer KDC plan to break ground on the new location in late 2022 and expect for the facility to be operational in early 2024. The company’s current port operations in Houston and Midlothian will be consolidated into the new hub at Port Freeport.
Developing Port Freeport will enable Volkswagen Group of America to import approximately 140,000 vehicles per year, primarily from its production hubs in Mexico, as well as imports from Europe. Port Freeport will allow utilization of low-emission LNG vessels, supporting Volkswagen Group’s goal to improve the environmental footprint of its global logistics.
A rendering of the Port Freeport site. (Image: Volkswagen Group of America)
“Moving Volkswagen Group of America’s major Gulf Coast hub to Port Freeport is part of our network and growth strategy for the United States,” said Anu Goel, Executive Vice President, Group After Sales & Services, Volkswagen Group of America, Inc. “We’re continuously working to optimize the business and environmental impact of our logistics operations. Our new hub at Port Freeport will allow us to serve nearly one-third of our U.S. dealer network more efficiently and more sustainably. We couldn’t be more excited to work with Port Freeport and developer KDC on this next chapter.”
Currently, Volkswagen Group of America relies on eight ports in the U.S., chosen to optimize distances to its more than 1.000 dealerships and reduce emissions in transportation.
“We are thrilled with Volkswagen Group of America’s decision to choose Port Freeport, which offers state-of-the-art infrastructure and is a rapidly growing port with water, highway and rail accessibility. The port’s proximity to Houston and access to major manufacturing zones make it an ideal location as Volkswagen’s major Gulf Coast hub,” said Phyllis Saathoff, Executive Director and CEO, Port Freeport. “We look forward to working with Volkswagen Group of America on their expanding operations over the next twenty years.”
Volkswagen Group of America’s future operations at Port Freeport are anticipated to create 113 jobs directly at the terminal facility plus many more indirectly through related fields such as trucking and rail, vessel unloading, vessel pilots, and more.