ARLINGTON, Va. – Chocolate maker Nestle USA announced Wednesday the company is moving its headquarters from California to Arlington County, Virginia.

Nestle USA is a subsidiary of Switzerland-based Nestlé S.A. and considered the largest food company in the world. The company specializes in global nutrition, health and wellness.

Virginia Governor Terry McAuliffe announced the deal that is projected to create 748 new jobs.

“Adding a global brand like Nestlé USA to Virginia’s corporate roster is a huge win for our commonwealth,” said McAuliffe, speaking at the announcement. “This project is a clear sign that our efforts to build a new Virginia economy are paying off.”

He said the company will invest $39.8 million to relocate to Virginia.

Nestle USA will occupy 206,000 square feet of 1812 North Moore Street, the tallest building in the D.C. metropolitan area. It has been vacant since its 2013 opening.

“Nestlé USA carefully considered a number of locations and Arlington hits all the marks. The area offers appealing benefits for our current employees, as well as a great talent pool for the future,” said Paul Grimwood, Chairman and CEO of Nestlé USA. “This location allows us to be closer to our business operations, our customers and other important stakeholders.”

Nestlé in the U.S. consists of eight main businesses: Nestlé USA, Nestlé Purina PetCare Company, Nestlé Waters North America, Nestlé Nutrition, Nestlé Professional, Nespresso, Nestlé Skin Health and Nestlé Health Science.