Burlington plans to invest $370 million to relocate its corporate headquarters to Philadelphia. The Commonwealth is investing $30 million in the project, which will create at least 2,000 new jobs over the next five years.
The company is purchasing property at 3151 Market Street in West Philadelphia that will serve as Burlington’s headquarters.
“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.”
Burlington Stores Inc. received a funding proposal from DCED for a $20 million Redevelopment Assistance Capital Program (RACP) grant and a $10 million Pennsylvania First grant.
“Burlington’s decision to make Philadelphia its new corporate headquarters is a powerful vote of confidence in Pennsylvania and our economic future,” said DCED Secretary Siger. “This $370 million investment will bring 2,000 new jobs to the Commonwealth and strengthen Philadelphia as a national hub for business and innovation.”
The City of Philadelphia is supporting this investment 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.
“Burlington’s decision to make Philadelphia its new corporate home is a powerful vote of confidence in our city and our people,” said Philadelphia Mayor Cherelle L. Parker. “Through SEPTA Key Advantage, we’re also making it easier for Burlington employees to get to work and experience all our city has to offer. This is a great example of a safer, greener and cleaner Philadelphia, with access to economic opportunity for all.”
