Posted on June 26, 2023
ZIM American Integrated Shipping Services Co., LLC, a subsidiary of publicly held Israeli international cargo shipping company ZIM Integrated Shipping Services Ltd., plans to expand and relocate its U.S. headquarters to Virginia Beach, Virginia. The $30 million project is expected to create hundreds of jobs over the next five years.
The Virginia Economic Development Partnership (VEDP) worked with the City of Virginia Beach, the Hampton Roads Alliance, and the General Assembly’s Major Employment and Investment (MEI) Project Approval Commission to secure the project for Virginia.
“We are very pleased with the purchase of this first-class new office building, which will serve our growing shipping business in the U.S., a pivotal country for our strategy and our global network,” ZIM President & CEO Eli Glickman said. “The new office will provide a first-rate work environment for our valued employees, as they continue to deliver our signature personal, top-quality service to customers. This office expansion is vital to ZIM’s commitment to the North American market and to the expansion of our capacity in the region with our new LNG- Green Energy vessels fleet.”
Governor Youngkin approved a $1,497,300 grant from the Commonwealth’s Opportunity Fund to assist Virginia Beach with the project. The company is eligible to receive benefits from the Port of Virginia Economic and Infrastructure Development Zone Grant Program. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program. “The Hampton Roads region’s strategic location and proximity to The Port of Virginia will help align ZIM American Integrated Shipping Services Co., LLC for further growth in the U.S. market, and we are proud that this global shipping leader will remain and expand in the Commonwealth,” noted Secretary of Commerce and Trade Caren Merrick. “A pro-business environment, robust workforce, and effective collaboration are the hallmarks of economic development in Virginia, and this significant project will make the Commonwealth even more attractive for additional investments in the logistics sector.”
Founded in Israel in 1945, ZIM is a leading global container liner shipping company with established operations in more than 90 countries serving approximately 34,000 customers in over 300 ports worldwide. The company’s differentiated global-niche strategy, based on agile fleet management and deployment, covers major trade routes with a focus on select markets where the company holds competitive advantages.
“The Port of Virginia has a collaborative relationship with ZIM, and we are pleased that it has elected to remain in Virginia and grow its presence here,” said Stephen A. Edwards, Virginia Port Authority CEO and executive director. “ZIM is an important global ocean carrier and its benefits to the region and state can be counted in terms of jobs, investment, and growing cargo volumes. The company’s decision to remain in Virginia is a clear indicator that this state is a world-class destination for maritime-related business.”
“The Hampton Roads Alliance (the Alliance) congratulates ZIM on its growth plans and its decision to continue to headquarter its United States operations here in the Hampton Roads region,” added Doug Smith, President and CEO of the Hampton Roads Alliance. “The Alliance had a hand in recruiting ZIM to the region 22 years ago as the company relocated is headquarters operations from New York City to Hampton Roads. At that time, the company selected our region to best meet their customers’ needs and position the company for future growth. It appears Hampton Roads was the right location choice then and now. ZIM’s decision to re-invest in Hampton Roads speaks volumes to the region’s strategic location and competitive advantage offered to the shipping and logistics industries.”
