Burlington Stores Moving Corporate Headquarters to Philadelphia in $370 Million Deal
the staff of the Ridgewood blog
Paramus NJ— In a major economic win for the region, discount retail giant Burlington Stores Inc. (formerly Burlington Coat Factory) has announced it is relocating its corporate headquarters from Burlington Township, New Jersey, to Market Street in University City, West Philadelphia.
The multi-million-dollar move represents an estimated $370 million total investment and is expected to create up to 2,000 family-sustaining jobs over the next five years.
Key Details of the Relocation and Incentive Package
The relocation brings a major Fortune 500 headquarters directly into Philadelphia’s vibrant University City neighborhood, backed by city and state economic support.
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Incentive Package: Philadelphia is supporting the expansion with an $8 million economic development package, which includes a $7 million high-impact forgivable loan.
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Transit Benefits: The package includes $1 million through the SEPTA Key Advantage program, offering Burlington corporate employees unlimited public transit access for one year.
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Job Growth: Up to 2,000 corporate positions are projected over the next five years, boosting local retail, hospitality, and public transit usage across the city.
Local Impact and Official Response
Burlington Stores currently operates over 1,200 stores across 47 states, including eight retail locations throughout Philadelphia.
Philadelphia Mayor Cherelle Parker highlighted the move as a major vote of confidence in the city’s economic momentum.
“Burlington’s decision to make Philadelphia its new corporate home is a powerful vote of confidence in our city, our people and the momentum we are building,” Mayor Parker said in a statement. “This move will bring up to 2,000 good jobs with family-sustaining wages to Philadelphia… So, this feels like more than a relocation. It feels like a homecoming. Philadelphia is open for business.”
The new Market Street headquarters in West Philadelphia will anchor Burlington’s long-term corporate growth while bolstering Philadelphia’s status as a top hub for major corporate headquarters.
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Tags: #Philadelphia #BurlingtonStores #UniversityCity #PhillyBusiness #EconomicDevelopment #JobGrowth #SEPTA #RetailNews
NJ to Philadelphia.
WOW
War Zone business climate better than NJ?