PHILADELPHIA (KYW Newsradio) — Philly-based clothing retailer Urban Outfitters is taking advantage of state tax credits to expand its operations at the Navy Yard and in Bucks County.
It is adding more than 1,000 new jobs in the area — 450 at its Navy Yard headquarters, and 600 more with the addition of a new warehouse for its clothing rental service Nuuly in Falls Township, Bucks County.
Gov. Josh Shapiro is touting the investment as a sign of major economic growth in Pennsylvania.
“Urban will be investing $150 million here in Pennsylvania,” he said. “They could have practically done this anywhere. They didn’t have to expand here in our commonwealth, but they chose to grow their operations right here.”
The company is receiving Keystone Opportunity Zone tax credits for its investment. Urban has grown from a storefront near Penn 26 years ago to a worldwide lifestyle brand.
“If we didn’t have that relationship with the various government agencies — particularly the state of Pennsylvania, the Commonwealth of Pennsylvania — we would not have been able to grow at the rate that we’ve grown,” said CEO Dick Hayne.
Urban’s headquarters has been at the Navy Yard for 20 years, and Hayne said the company has no thoughts of leaving.
Shapiro added his administration has attracted more than $41 billion in private sector investment and created more than 23,000 jobs since he took office.
The minimum $150 million investment promises to create more than 1,000 jobs
The minimum $150 million investment promises to create more than 1,000 jobs
