SCV News | Groundbreaking Ceremony Held for New Logix Headquarters
[Press Release]- Logix Federal Credit Union hosted a groundbreaking ceremony October 26 for its new headquarters in Valencia, located at Commerce Center Drive and Franklin Parkway.
Dave Styler, President & CEO of Logix Federal Credit Union welcomed all in attendance and was excited to share that the largest financial institution headquartered in the San Fernando Valley will move to Santa Clarita Valley. Logix chose this location after exploring multiple areas for its future headquarters. With four branches already in the area and plans to add more, this location was the perfect place for long-term growth while also offering its employees a great community and quality of life.
Holly Schroeder, President & CEO of Santa Clarita Valley Economic Development Corporation also spoke at this event, stating that Logix was a great fit for the Santa Clarita Valley, bringing 350 – 400 new jobs from the construction of their headquarters, resulting in $4 million in fiscal revenue. The credit union worked closely with the Santa Clarita Valley Economic Development Corporation, NewGround, and the CBRE Group, Inc., in selecting the site for the new building.
Santa Clarita Mayor Bob Kellar shared with the audience that Logix has been a great partner and supporter of the community for years, and expressed his enthusiasm about the the credit union’s move to Santa Clarita Valley. Kathryn Barger, Chief Deputy for Los Angeles County Supervisor Mike Antonovich, shared a proclamation from the Supervisor, and recognized all those who worked to bring Logix to the Santa Clarita Valley.
The new headquarters, located near the junction of Interstate 5 and State Highway 126, will be designed and built by St. Louis-based NewGround, and construction will begin in early 2017, with completion by late 2018. The building will be 170,000 square feet and will house more than 500 Logix employees at opening, and offer the capacity for significant future expansion. CBRE Group, Inc., arranged the sale of the 12-acre vacant parcel in the Valencia Commerce Center in August of last year.
During its 79 years in Burbank, Logix has grown from a small credit union, exclusively serving employees of Lockheed Aircraft Corporation, to an institution serving the community, with more than 170,000 members and nearly $5 billion in assets. After 29 years in its current headquarters building in Burbank, the credit union needed a larger facility to accommodate its rapidly expanding employee population.
Logix will retain its Burbank facility, which will continue to house a flagship branch to serve local customers.(c) 2016 SCVTV