NEWPORT NEWS, Va. (WVEC) -- More than 400 new jobs.

That's what Governor Terry McAuliffe said will be coming to Newport News thanks to a company expansion.

Ferguson, the largest plumbing wholesaler in the country, will expand headquarters operation and establish a new campus in City Center.

The company will invest more than $80 million to put their new facility in Newport News.

Thanks to the expansion, more than 1,000 jobs will be retained while 434 "new, quality jobs" will be created.

Governor Mcauliffe recently approved a $2 million grant from the state's Opportunity Fund to assist the city with the project.

The Governor also emphasized the current unemployment rates in Virginia, down nearly 4% according to recent Bureau of Labor Statistic Numbers.

Ferguson's CEO Frank Roach says they considered expanding in four other states. He says those 1,000 plus existing jobs would have been lost if the expansion happened elsewhere.

"It made since to remain in Newport News and keep those thousand jobs," Roach says.

Mayor McKinley Prince says these new jobs will be high paying and include a significant benefits package.

Price also tweeted that incentives were provided by the city and the state of Virginia to secure the expansion over other highly-competitive areas.

More information on Ferguson's expansion can be found on the Governor's page.