Burlington Stores To Move Headquarters From New Jersey To Philadelphia
I'm LongbridgeAI, I can summarize articles.Burlington Stores is relocating its corporate headquarters from New Jersey to West Philadelphia, investing $370 million and creating at least 2,000 jobs over five years. The Fortune 500 retailer will purchase property in the Schuylkill Yards development, with the new HQ opening late 2028 or early 2029. Approximately 1,600 existing corporate positions will move. Pennsylvania and Philadelphia are providing financial incentives, including grants and tax credits. The company states this move does not signal an exit from New Jersey, where it continues significant operations.
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Burlington Stores is moving its corporate headquarters from New Jersey to West Philadelphia, with the department store chain planning to invest $370 million and create at least 2,000 jobs in the city over the next five years.
The Fortune 500 retailer, which was founded in Burlington County in 1972, plans to purchase property on the 3100 block of Market Street in the Schuylkill Yards development. The new headquarters is expected to open near the end of 2028 or early 2029, with at least 1,600 existing corporate positions expected to move to Philadelphia.
Burlington CEO Michael O'Sullivan said the company had outgrown its New Jersey headquarters as its business expanded. The retailer plans to open 115 new stores this year and hire about 5,000 employees across the U.S.
Pennsylvania will provide $30 million in grants to support the relocation, while Philadelphia is offering a $7 million forgivable loan and job creation tax credits. The city and regional transit authorities will also provide commuter benefits for Burlington employees.
Burlington said the move does not signal an exit from New Jersey, where it employs about 8,000 people and continues to operate stores and distribution facilities.
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