Ferguson Enterprises will expand its headquarters and build a new facility, the governor and mayor of Newport News announced June 5.

Gov. Terry McAuliffe on Monday said the company will invest $82.8 million and create 434 jobs.

The new campus will be located in City Center at Oyster Point, which is located in Newport News, Virginia. The additional site will house IT staff and other corporate functions.

“Ferguson’s decision to expand its headquarters operation in the City of Newport News is a major victory for the Hampton Roads region and the Commonwealth of Virginia,” said Gov. McAuliffe. “This global company dominates the plumbing industry and has been an exceptional corporate steward in Newport News for more than 60 years. We couldn’t be prouder that Ferguson calls the Commonwealth home, and we thank the company for its continued investment in our efforts to build the new Virginia economy.”

Added Ferguson CEO Frank Roach: “Ferguson is deeply rooted in the Commonwealth and we have been proud to call Virginia home for more than 60 years. We are excited to further invest in the City of Newport News which allows us to retain more than 1,000 existing jobs and create 434 new jobs for the region”.

“Ferguson isn’t just a multi-national corporation, it’s a ‘hometown’ company that employs many of our citizens,” said Florence G. Kingston, director of Newport News Department of Development. “The jobs created by this expansion will provide a boost for our workforce and our local economy.”