Burlington Stores Inc. will move its corporate headquarters to Philadelphia as part of a $370 million investment expected to create at least 2,000 jobs in Pennsylvania over the next five years, Gov. Josh Shapiro and Mayor Cherelle Parker announced Thursday.
The retailer plans to purchase property at 3151 Market St. in West Philadelphia for its new headquarters. The site is part of Schuylkill Yards, a mixed-use development by Brandywine Realty Trust.
The state is providing $30 million in financial support for the project, including a $20 million Redevelopment Assistance Capital Program grant and a $10 million Pennsylvania First grant, according to the Pennsylvania Department of Community and Economic Development.
Philadelphia is also offering incentives, including a $7 million forgivable loan and a job creation tax credit. SEPTA and the Philadelphia Parking Authority are offering discounted commuter programs for Burlington employees.
“Today, we’re delivering a major win for Philadelphia and our Commonwealth,” said Shapiro. “Burlington is a fast-growing Fortune 500 company and they have committed to invest hundreds of millions of dollars in our economy and create 2,000 new jobs in our Commonwealth as part of the largest headquarters relocation to the city in years.
"We’re going to keep showing the world that Pennsylvania is open for business," he added.
Burlington CEO Michael O’Sullivan said the company was attracted to Philadelphia because of its workforce, infrastructure and business environment.
“We are very excited to be relocating our corporate headquarters to Philadelphia,” said O’Sullivan. “We were strongly attracted to the energy, talent, and infrastructure that Philadelphia has to offer."
Parker said the move will add another Fortune 500 company to Philadelphia and bring thousands of employees into the city.
“Burlington’s decision to make Philadelphia its new corporate home is a powerful vote of confidence in our city and our people,” Parker said.
Burlington operates about 1,300 stores in 47 states. As of Aug. 1, the company had more than 40 stores in the Philadelphia designated market area.
The headquarters relocation is expected to take place at Schuylkill Yards, which is being developed by Brandywine Realty Trust.
The state's support for the project is being coordinated through Shapiro's economic development initiative, BusinessPA.
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