Virginia Governor Glenn Youngkin announced June 20 that ZIM American Integrated Shipping Services, a subsidiary of the Israeli international shipping company ZIM Integrated Shipping Services, would be investing about $30 million to relocate and expand its U.S. headquarters in the Hampton Roads region of Virginia Beach, Virginia.

Virginia was reportedly able to beat out several other U.S. states for the investment, which is expected to create “several hundred jobs” over the next five years, according to a statement from the Office of Governor Youngkin.

The project was secured thanks to efforts from the Virginia Economic Development Partnership, the City of Virginia Beach, the Hampton Roads Alliance and the General Assembly’s Major Employment and Investment (MEI) Project Approval Commission. Governor Youngkin also approved a $1.4973 million grant from the Commonwealth’s Opportunity Fund to assist Virginia Beach with the project.

Following the expansion, ZIM American will be eligible for benefits from the Port of Virginia Economic and Infrastructure Development Zone Grant Program. Meanwhile, financing to support employee training activities will be provided by the Virginia Jobs Investment Program.

ZIM president Eli Glickman said that the new office will provide the company with a “first-rate work environment for our valued employees as they continue to deliver our signature personal, top-quality service to customers.” Glickman also described the expansion as vital to the company’s “commitment to the North American market.”

“It was a priority for ZIM American Integrated Shipping Services Co., LLC to retain its headquarters in the Commonwealth and secure employment opportunities in the Hampton Roads region for years to come,” said Governor Youngkin. “Virginia is a leader in supply chain management thanks to our infrastructure, robust transportation network, and world-class Port of Virginia, and ZIM is a vital shipping partner that advances our position in this important industry. We are pleased that ZIM will continue its growth in the Commonwealth.”