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Navy Federal Credit Union Expands Frederick County Operations Center

01/13/2017
Navy Federal Credit Union will invest $100 million to expand its Winchester operations center in Frederick County, Virginia. The project is expected to create 1,400 jobs and nearly double Navy Federal’s workforce employee-count and physical square footage in Frederick County.

“At Navy Federal, our number one goal is to provide exceptional member service,” said Cutler Dawson, Navy Federal President & CEO. “We are delighted with the talented and hardworking employees at our Frederick County-Winchester operations center, and this expansion will allow us to build upon our success there.”

As an incentive, Virginia Economic Development Partnership worked with Frederick County to secure the project for Virginia. Governor McAuliffe approved a $2 million grant from the Commonwealth Opportunity Fund to assist the County with the project.

The Governor also approved $4 million in funds from the Virginia Economic Development Incentive Grant (VEDIG). VEDIG was established as a self-funded program of performance-based incentives that the Commonwealth awards to exceptional economic development projects with large numbers of employees and very high wages relative to average wages for that particular area. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.

“This Virginia-headquartered company’s growth and investment over nearly 40 years is an incredible testament to our unparalleled business environment, infrastructure and top-notch workforce,” said Governor Terry McAuliffe. “An expansion of this magnitude is transformational for Frederick County and for the Commonwealth, as Navy Federal is a critical partner providing good-paying job opportunities for thousands of hard-working Virginians. These jobs and their services help support the men and women of our military and their families worldwide, and we are proud to be the home of Navy Federal as we continue to build the new Virginia economy.”

“Navy Federal Credit Union continues to expand its footprint in Virginia as a major employer, and is consistently ranked one of the best companies to work for in the country,” said Secretary of Commerce and Trade Todd Haymore. “This tremendous expansion in Frederick County will offer residents of the Northern Shenandoah Valley a career option without a considerable commute out of the region, which is paramount to a successful local and regional economy. We look forward to helping to facilitate the company’s continued success in Virginia any way we can.”

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