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Navy Federal Creates 600 Jobs with $114M Expansion

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Last week Gov. Terry McAuliffe (pictured) announced that Navy Federal Credit Union, one of the largest in the world, will be expanding its HQ in Fairfax County. This $114.6M project in the Town of Vienna will create 600 new jobs. The plan calls for the construction of a new four-story, 234k SF office building and parking deck on a 10.8-acre site. The building will be connected to the rest of the campus via an elevated walkway, Multi-Housing News reports. The Fairfax County Economic Development Authority and the Virginia Economic Development Partnership worked together to secure the project, while Gov. McAuliffe assisted by approving a $1M grant from the Governor's Opportunity Fund. Additional funding and services from the Virginia Jobs Investment Program will be used to support Navy Federal's employee training activities. Navy Federal serves all Department of Defense and Coast Guard personnel and their families, whether active-duty, civilian, or contract. It has more than $63B in assets, with 260 branches and more than 12,000 employees worldwide. [MHN]