FreightWaves announced plans to expand its operations and move into a new headquarters building in Chattanooga, Tenn.

The $3.9 million expansion will create 260 new jobs.

"A major reason why FreightWaves has become one of the fastest-growing technology startups in the country is the talent and experience of our Chattanooga-based team,” says Craig Fuller, chief executive officer. “Steve Case, the internet pioneer and venture capital investor recently described Chattanooga as the ‘Silicon Valley of Trucking’ and highlighted Chattanooga as an ideal place to build a market data business for the freight industry because of the significant role the city plays in the future of the industry. The city also has one of the highest concentrations of individuals connected to the freight sector in North America. Not only is Chattanooga a great place for any technology startup, [but] the city and the State of Tennessee [also] offer FreightWaves an unparalleled advantage in the freight industry.”

FreightWaves plans on adding nearly 22,000 square feet to the facility, which is the former World of Beer and Club Fathom location. The company plans to turn the bar into an employee and guest community center.