Burlington investing $370 million in headquarters move
Burlington Stores Inc. is moving its corporate headquarters out of New Jersey.
The off-price retailer is relocating its headquarters from Burlington, N.J., to West Philadelphia. Burlington is investing $370 million in the project, which is expected to create at least 2,000 new jobs during the next four years. The company’s new headquarters will be located in Schuylkill Yards, between 30th Street Station and the Drexel University campus, a development by Brandywine Realty Trust.
Pennsylvania is investing $30 million in the project, while the City of Philadelphia is supporting the project with incentives including a $7 million forgivable loan and a Job Creation Tax Credit award. SEPTA and the Philadelphia Parking Authority also stepped up to offer deeply discounted commuter savings for new Burlington employees in the city.
We are very excited to be relocating our corporate headquarters to Philadelphia,” said Michael O’Sullivan, CEO of Burlington Stores. “We are one of the fastest growing retailers in America, and as we evaluated different options for our new corporate home, we were strongly attracted to the energy, talent, and infrastructure that Philadelphia has to offer. Add to that, we found the vision and priorities articulated by the Mayor and the Governor extremely compelling — fiscal health, education and training, and economic opportunity for all. We look forward to supporting and being part of that vision."
Burlington is moving after being based in New Jersey for more than 50 years. At a press conference, O'Sullivan, said the company has outgrown its current location.
“This is in no way a reflection of the current business climate in New Jersey and Burlington looks forward to continued warm relations with New Jersey state government,” Burlington said in a statement provided to NBC Philadelphia,
Burlington currently has 8,000 associates in New Jersey, according to the statement. A portion of those employees will eventually transition to the new headquarters in Philadelphia.
As of Aug. 1, Burlington operated 1,300 stores in 47 states, including more than 43 in the Philadelphia designated market area.
