PORTSMOUTH, Va. (WAVY) — International shipping company CMA CGM will keep its North American headquarters in Norfolk and expand its operations, adding 400 new jobs overall in the commonwealth.

Virginia Gov. Northam and CMA CGM officials made the announcement in a joint Zoom press conference on Thursday. Norfolk was chosen after a “competitive site-selection search” that included many other North American port cities.

“This project is a tremendous victory for Virginia that will add significant momentum to our economic recovery as we emerge from this pandemic,” Northam said. “Hampton Roads has a well-deserved reputation as a maritime services hub and our renowned tech workforce in Northern Virginia continues to attract leading companies. Securing CMA CGM’s expansion sends a powerful message that The Port of Virginia stands among the world’s greatest and our Commonwealth is prepared to keep adapting to the demands of our global economy.” 

The company, which is headquartered in Marseilles, France, established its North American headquarters in Norfolk in 2005. It already has more than 655 employees currently working in Norfolk. Many of those 400 new jobs will be in Hampton Roads, company officials said.

“CMA CGM’s decision to continue direct investment and support for jobs in Norfolk is a testament to our role as a hub for innovation in international maritime and logistics.  Their 15-year presence has proven Norfolk’s role as a platform for regional business development and catalyst for job growth for the Commonwealth of Virginia,” said Mayor Kenneth Cooper Alexander.

$30 million of the investment will go toward a complete renovation of the Norfolk HQ in the Lake Wright Executive Center.

CMA CGM will also establish a new incubator center in Northern Virginia to promote innovation in transportation and logistics. Company officials pointed to Virginia’s talent pool, including graduates in computer science and other technologies.

To read more about the announcement, click here.