Seaborne Airlines to move its headquarters to Puerto Rico

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Seaborne Airlines is moving its headquarters from the U.S. Virgin Islands to Puerto Rico.

The company said Wednesday that the move will be complete by March 2014 and generate a total of 400 jobs in Puerto Rico.

Seaborne also plans to add new routes from the Puerto Rican capital of San Juan to St. Kitts and Nevis, as well as to St. Maarten and to Punta Cana in the Dominican Republic.

Officials said there will be no changes to existing routes.

Puerto Rico Gov. Alejandro Garcia Padilla said the U.S. territory provided $16 million in incentives to Seaborne, with the state Economic Development Bank becoming a minority shareholder in the company.

He said the move is expected to generate a total of more than $85 million in revenue for the government by 2015.