Newport News is currently the headquarters location of Wolseley subsidiary Ferguson Enterprises, which has been housing Wolseley North America since it was created as the umbrella company of Wolseley's three North American entities in early 2005. The new headquarters facility will sit on a 10-acre parcel near the Ferguson site that the Industrial Development Authority of the City of Newport News plans to sell to the company.

Both local and state entities participated in wooing Wolseley. Maryland is providing about $4 million in incentives. Construction of the new office facility is scheduled to get under way in the spring of 2006, with an estimated completion date in 2007.