Richard Hayne, president of Urban Outfitters, announced this morning that it will expand its corporate headquarters at the Philadelphia Naval Yard. Hayne, a Chestnut Hill resident, said this would create 1,000 new jobs over a three-year period. The company currently has 1,200 permanent employees at its corporate headquarters.
Urban Outfitters will acquire and redevelop two Navy Yard buildings totaling more than 100,000 square feet, investing about $30 million in the expansion.
Mayor Nutter in a statement said he applauds Urban Outfitters for creating more jobs for Philadelphia. “This expansion is one of the most important business expansion announcements of my Administration,” he said.
Urban Outfitters recently announced a jump in earnings during the Christmas holiday season with net sales of $520 million or 15% over the same period last year.
Urban Outfitters also is the parent company Anthropologie, Free People, Leifsdottir, Terrain.
(Update to this story) On Thurs, Feb 10 while delivering remarks to the Greater Philadelphia Chamber of Commerce Mayor Michael Nutter he used the expansion of Urban Outfitters as an example of how the city’s economy is rebounding.
Just yesterday I was at the Philadelphia Navy Yard to announce that Urban Outfitters is investing $20 million to develop the Cruise Ship Terminal Building in order to accommodate their rapid growth. With this expansion the company will add 1,000 new jobs over the next 3 years.
Since Dick Hayne moved this 40 year old Philadelphia company to the Navy Yard five years ago, Urban has doubled its headquarters workforce to almost 1,300 people and invested over $140 million in building renovations. What Dick and his team at Urban have done down there is nothing short of remarkable.