Burlington Stores Inc. has invested millions into a plan to move its corporate headquarters to Philadelphia, officials announced Thursday. The effort is expected to create at least 2,000 jobs over the next five years. During an event in University City on Thursday morning, Gov. Josh Shapiro j oined Philadelphia Mayor Cherelle Parker as well as officials from Burlington Stores Inc. to announce the investment. To help facilitate this effort, officials said, the state is investing $30 million into the project, as well. Officials said these funds come from a $20 million Redevelopment Assistance Capital Program grant and a $10 million Pennsylvania First grant. “Pennsylvania is competing to win — and today, we’re delivering a major win for Philadelphia and our Commonwealth,” said Governor Shapiro in a statement released ahead of Thursday morning’s event. “Burlington is a fast-growing Fortune 500 company and they have committed to invest hundreds of millions of dollars in our economy and create 2,000 new jobs in our Commonwealth as part of the largest headquarters relocation to the city in years. Our economic development strategy makes smart, targeted investments to make choosing Pennsylvania an easy yes for major companies like Burlington, create good-paying jobs in our Commonwealth, and strengthen our communities. It’s working — and we’re going to keep showing the world that Pennsylvania is open for business.” During the morning, Burlington Stores Inc. CEO Michael O’Sullivan told a gathered crowd that the move happened because the company has outgrown the location in New Jersey’s Burlington County where it was founded in 1972. “As the size and complexity of out business has increased we’ve outgrown our old headquarters,” said O’Sullivan. As an example of this growth, O’Sullivan said that the company plans to open 115 new stores and hire about 5,000 new employees across the county before the end of the year. “I’m very proud and excited that, in the years ahead, at Burlington Stores, we will be calling Philadelphia our home,” said O’Sullivan. Though, in a statement to NBC10, the company said it had no plans to leave New Jersey in its wake as it forges ahead into Philadelphia. “Burlington remains committed to New Jersey with its recently opened Logan facility and Edgewater Park distribution center, and we continue to open stores in the state. The HQ footprint will transition to Philadelphia.” Burlington Stores said in a statement. “This is in no way a reflection of the current business climate in New Jersey and Burlington looks forward to continued warm relations with New Jersey state government. Burlington currently has 8,000 associates in New Jersey, and a portion of these will eventually transition to the new HQ in Philadelphia. The 2,000 jobs created in Philadelphia represent a combination of migration and growth.” The City of Philadelphia, officials said, is providing the company with a $7 million forgivable loan and a Job Creation Tax Credit award. “Philadelphia and the Commonwealth of Pennsylvania is open for business and today is proof,” said the mayor. SEPTA and the Philadelphia Parking Authority also plan to offer discounted commuter savings for new Burlington employees, officials said in a statement. Also, to facilitate this move, Burlington Stores Inc. is purchasing a property along the 3100 block of Market Street in West Philly. ...read more read less