Burlington Stores is preparing to move its longtime corporate headquarters from New Jersey to Philadelphia, marking a notable loss for the state’s business community.
The off-price retail company, best known for Burlington stores across the country, has maintained its headquarters in Burlington County, New Jersey, for decades. The company is now planning to relocate its corporate offices across the Delaware River to Philadelphia.
The move is significant because Burlington is one of New Jersey’s most recognizable retail companies, with deep roots in the state. Its departure means New Jersey will lose a major corporate headquarters along with the economic activity, jobs and prestige that come with it.
The company has not indicated that its retail stores in New Jersey are closing. The change affects its corporate headquarters, not its broader store network.
Philadelphia has increasingly competed with New Jersey for major employers by offering access to a large workforce, transportation infrastructure and downtown office space. Burlington’s decision adds to ongoing concerns about whether New Jersey is doing enough to retain large companies and corporate offices.
The relocation also comes at a time when state and local officials are paying close attention to business costs, taxes and economic competitiveness.
For New Jersey, Burlington’s move is more than a change of address. It represents the loss of a longtime corporate presence that has been associated with the state for generations.
Source: News 12 New Jersey
By NJ RADAR Team