02 CMA CGM Group Recommits to Virginia

CASE STUDY CMA CGM Group Recommits to Virginia

Founded in 1978 in France, CMA CGM Group is the nation’s top ocean freight carrier, with an emphasis on maritime logistics solutions. With over $31 billion in revenue, the company operates in 160 countries, has 110,000 employees worldwide, and operates more than 560 vessels moving product through 80% of the world’s ports. CMA CGM employs over 650 at its U.S. headquarters in Norfolk and is among the top users of The Port of Virginia, moving approximately 238,000 containers annually.

Based upon CMA CGM’s continued growth in global coverage and maritime and intermodal services, the company began evaluating plans to either grow its presence in the Hampton Roads region or relocate and expand operations in competing markets in other states—representing a potential loss of more than 650 existing Virginia jobs.

Following a competitive site selection search process and several weeks of incentive negotiations, CMA CGM chose to retain its North American headquarters in Norfolk and expand in Virginia, announcing a $36 million investment and more than 400 new jobs, primarily in customer care and financial services. The company’s plans also include establishing ZEBOX in Arlington County, a startup incubator and accelerator designed to assist innovative startups in developing new technologies for transportation, logistics, mobility, and industry 4.0.

VEDP worked with the General Assembly’s Major Employment and Investment (MEI) Commission, The Port of Virginia, the city of Norfolk, and the Hampton Roads Alliance to secure the project for the Commonwealth. In addition to local incentives, CMA CGM Group will be eligible to receive an MEI custom performance grant of $9.5 million, as well as incentives from The Port of Virginia Economic and Infrastructure Development Zone Grant Program. CMA CGM will also receive recruitment and training support through the Virginia Talent Accelerator Program.

CMA CGM’s decision to expand its presence in Virginia is a testament to the Commonwealth’s standing as an entry point for domestic and global commerce and a leading national competitor for projects in the supply chain sector.

KEY PARTNERS:

Administration of Governor Ralph S. Northam • City of Norfolk • Hampton Roads Alliance • The Port of Virginia • Virginia Employment Commission Virginia General Assembly and MEI Commission