Navy Federal Announces 1,500 New Jobs

April 4, 2013

Navy Federal Credit Union announced Wednesday it will expand its corporate operations in Beulah, bringing new building construction and 1,500 new jobs to the region. Construction is planned to start in late 2013, including buildings on the 240 acre former Langley Bell 4-H Center property purchased last year by Navy Federal for $3.6 million.

“Providing the best possible service to our members is our first priority. Our Pensacola expansion is key to supporting the credit union’s strong growth and an important way for us to continue delivering outstanding service,” said Cutler Dawson, president and CEO of the credit union. “We’re proud to be a part of the economic growth for the area.”

Navy Federal’s next phase of growth in Beulah involves the construction of two new buildings, totaling 342,300 square feet at its Greater Pensacola Operations campus. Upon completion, 1,500 corporate and operational jobs will be created. Capital investments for the expansion will exceed $200 million, and also include constructing a central energy plant, auditorium, parking structure and recreation area.

“This is an historic day for Pensacola families. Today’s news that Navy Federal will create 1,500 jobs for families is a huge win for the Sunshine State, and builds on the 640 jobs that were announced last year, said Rick Scott, Governor of Florida. “With our efforts to cut taxes, pay down debt and keep the cost of living low, Florida’s job climate is improving each and every day. With more than 290,000 private-sector jobs created in the past two years, we’re creating a Florida that’s the number one place in the world to find a job and run a successful business, providing families with more opportunities to pursue the American Dream.”

Navy Federal is a growth story in Pensacola, beginning in 2003 with 60 employees. In 2012, Navy Federal added 640 jobs, bringing its current total in the region to over 2,800 employees. The credit union has invested over $225 million in Pensacola and has seven branches along the Florida Panhandle.

“Over the past 10 years, Navy Federal Credit Union in Pensacola has brought 2,800 jobs and invested more than $225 million in their current campus,” said U.S. Rep. Jeff Miller, Florida District 1. “Our friends at Navy Federal have proven to be good corporate neighbors and have shown their commitment to our community. We appreciate them choosing Pensacola and we look forward to having them in our neighborhood for many years to come.”

Navy Federal’s over 10,000 full and part-time employees worldwide are offered a robust benefits package, including competitive salaries, incentive programs, comprehensive medical/dental/vision benefits, and retirement plans with an employer match.

“Navy Federal Credit Union has been an important part of our community for many years,” said Sen. Greg Evers. “Their choice to expand business in Pensacola is a testament to the hardworking people of Northwest Florida.”

In January 2013, FORTUNE Magazine named Navy Federal on its list of the “100 Best Companies to Work For.” This marked Navy Federal’s third appearance on the list, having first been recognized in 2008 and again in 2012.

Pictured top: Navy Federal’s current campus and future expansion onto the 240 acre Langley Bell 4-H Center purchased last year.Pictured inset: Gov. Rick Scott at Wednesday’s Navy Federal announcement.  Pictured below: Expansion plan including two buildings and a parking garage. Courtesy images for NorthEscambia.com, click to enlarge.

Comments

11 Responses to “Navy Federal Announces 1,500 New Jobs”

  1. david Lamb on April 4th, 2013 5:38 pm

    Congratulations Chamber, Commissioners,Navy Federal and All those that had a part in getting this far,
    NOW I ask for one thing!
    Put as much effort in getting 4H some new ground as you did to purcjhase LBC from 4H.
    The Bayer property has allo the anemities needed, is just sitting there, is in a good location and is or has the p[otential to be self- supporting bringing in income to maintain and support many 4H projects.
    Larry the Cable Guy says”Ger ER Done!
    With Carlton Proctors article about the Landing field now being available leads to many questions and shows that someone is playing politics.
    TIME TO STOP- STONEWALLING AND GET 4H WHAT WAS PROMISED!
    BUY BAYER NOW.
    PROMISES WERE MADE –HONOR THEM!

  2. George on April 4th, 2013 10:54 am

    Who cares. Nit pick! It is a good thinbg! JOBS!

  3. Rick on April 4th, 2013 9:24 am

    TheFacts – Corporate in this case refers to the operations of the office, not the nature of the company.

  4. Jacob Gilmore on April 4th, 2013 9:08 am

    I am happy to see that Navy Federal is growing and that they are using the 240 acers purchaesd from 4-H. I just want to remind everyone that escambia county economic development won, Navy Federal won now let’s make sure that the 4-H kids win with a replacement property. This is dragging out way to long and I pray the kids get what they deserve as they really had no reason to sale the land other than it was in the best interest for economic development. This should be a no brainer and a win win for everyone involved. I’m asking the public for there help and ensuring the kids get a replacement 4-H facility that is better than the one that was sold.

  5. Jane on April 4th, 2013 8:58 am

    Let’s hope the military is not hurt anymore by the sequestering that is going on! That could hurt our local economy!

  6. mg on April 4th, 2013 8:54 am

    its obvious from the map where the future buildings beyond 5 and 6 will go… all that empty space in the back

    now there is talk about the OLF going up for sale… I wonder if Navy Federal will be interested in that too

  7. TheFacts on April 4th, 2013 8:33 am

    “And I believe credit unions are a “not-for-profit”, not “non-profit”.”

    True, but either way, not a corporation like a bank is.

  8. William on April 4th, 2013 8:23 am

    >>>Navy Federal is not a corporation like a bank. It is a non-profit organization.

    Would it not be a tax-exempt corporation, a 501(c)(1), “Corporations Organized Under Act of Congress (including Federal Credit Unions)”

    See:

    http://www.irs.gov/Charities-&-Non-Profits/Other-Tax-Exempt-Organizations

    And I believe credit unions are a “not-for-profit”, not “non-profit”.

  9. N/A on April 4th, 2013 8:18 am

    Would not want to work anywhere else in Pensacola (or anywhere else for that matter). I encourage anyone looking for a job within the area to consider Navy Federal.

  10. TheFacts on April 4th, 2013 8:05 am

    “…it will expand its corporate operations…”

    Navy Federal is not a corporation like a bank. It is a non-profit organization.

  11. Previously Unemployed on April 4th, 2013 1:34 am

    How wonderful. They are a great employer and an all around good company to have in the community. We need jobs from companies that do not cause more problems than they repair.





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