$114M Navy Federal Expansion to Bring 600 Jobs to Fairfax County
- Mar 26, 2015
Gov. Terry McAuliffe announced last week that Navy Federal Credit Union, one of the largest credit unions in the world, with more than 5 million members, will expand its headquarters campus in Fairfax County. The expansion project will cost $114.6 million and will create 600 new jobs.
Navy Federal has called Fairfax County home for more than three decades. The credit union’s headquarters campus is located in the town of Vienna. The expansion project calls for the construction of a new office building and parking deck on a 10.8-acre site. The office building will stand four stories tall and will offer 234,000 square feet of space. An elevated walkway will connect it to the rest of the headquarters campus.
The Fairfax County Economic Development Authority worked together with the Virginia Economic Development Partnership to secure the project for Virginia, and Gov. McAuliffe approved a $1 million grant from the Governor’s Opportunity Fund to assist Fairfax County with the project. Navy Federal will use additional funding and services from the Virginia Jobs Investment Program to support its employee training activities.
“It’s critical in maintaining our high standards for exceptional member service that we continue to expand our presence in Fairfax County and Virginia,” Cutler Dawson, president & CEO of Navy Federal, said in a statement for the press. ”This state has a great wealth of talent, and Vienna is a community we are proud to be a part of.” Navy Federal has more than $63 billion in assets, including 260 branches employing more than 12,000 people worldwide. It serves all Department of Defense and Coast Guard active duty, civilian and contract personnel and their families.