Burlington stores HQ moving to Philadelphia

Key Points:

• Clothing retailer Burlington is relocating its corporate headquarters from Burlington, New Jersey, to the Schuylkill Yards development in Philadelphia in a $370 million move expected to create at least 2,000 jobs over five years.
• Pennsylvania officials, including Mayor Cherelle Parker and Gov. Josh Shapiro, praised the move as a significant vote of confidence in Philadelphia and one of the largest headquarters relocations to the city and state in years.
• New Jersey business leaders expressed concern over the loss, citing the state's high corporate tax rate of 11.5% compared to Pennsylvania’s lower and declining rate, and called for tax reforms to retain and attract large employers.
• Pennsylvania offered Burlington $30 million in incentives, including grants and forgivable loans, while Philadelphia provided $7 million and additional tax credits tied to job creation to secure the company’s relocation.
• The move highlights increasing competition among states to attract major companies, with New Jersey urged to improve its business environment to prevent further corporate departures.