January 18, 2017
Navy Federal Credit Union, headquartered in Vienna, VA, is investing $100 million in its Winchester, VA operations center. The expansion will ultimately lead to the creation of 1,400 new jobs, and will double the center’s square-footage.
Virginia beat out three other locations for expansion, with help from $6 million in grants and incentives from various state funds. A $2 million grant came from the Commonwealth Opportunity Fund, while $4 million in funds was approved from the Virginia Economic Development Incentive Grant.
Navy Federal is expanding in other areas as well. The financial institution is in the midst of a $115 million expansion of its Vienna headquarters, and has also embarked on a more than $200 million expansion of operations in Pensacola, FL.
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