Governor Wolf Announces Five Below to Expand and Relocate National Headquarters in Philadelphia

first_imgGovernor Wolf Announces Five Below to Expand and Relocate National Headquarters in Philadelphia SHARE Email Facebook Twitter September 27, 2016center_img Jobs That Pay,  Press Release Harrisburg, PA – Governor Wolf announced today that Five Below, a specialty value retailer catering to teens and pre-teens, will expand and relocate its national headquarters in Philadelphia, a move that will create 154 new, high-wage jobs.“I am pleased that Five Below has chosen to keep its national headquarters in Philadelphia where it can continue its success story at a new location,” Governor Wolf said. “Today’s announcement of 154 new, high-wage jobs marks the second headquarters announcement this month in the City, proving once again that Pennsylvania has the ability to attract and retain major employers.”Five Below will expand operations by relocating to 701 Market Street, Philadelphia. The company has signed a long-term lease to occupy 180,000-square-feet of office space and another 15,000-square-foot of retail space. Five Below will invest $10.5 million in tenant improvements and new equipment, and has committed to create 154 new, full-time jobs over the next three years and retain 211 existing positions.“We knew from Day one we wanted Five Below’s headquarters to be in Philadelphia,” said Joel Anderson, CEO of Five Below. “The brand began its amazing legacy here and that’s where it will continue. We can’t say enough how excited we are to stay in Center City Philadelphia and relocate our national headquarters to the emerging vibrant Market East neighborhood. The new office space is truly incredible. Five Below will always be Philadelphia Proud.”Five Below received a funding proposal from the Department of Community and Economic Development that includes a $900,000 Pennsylvania First program grant, and $462,000 in Job Creation Tax Credits to be distributed upon creation of the new jobs.The project was coordinated by the Governor’s Action Team, an experienced group of economic development professionals who report directly to the governor and work with businesses that are considering locating or expanding in Pennsylvania, in collaboration with the City of Philadelphia and the Philadelphia Industrial Development Corporation.“I am thrilled Five Below has committed to remain in Philadelphia with its recent decision to locate its new headquarters in Market East,” said Mayor Jim Kenney. “For the past 15 years, Five Below has built an iconic brand, and we are proud to support the company as it continues to grow.”Five Below (NASDAQ: FIVE) is a specialty value retailers offering a broad range of trend-right, high-quality merchandise targeted at the teen and pre-teen customer all priced at $5 and below. The company operates more than 500 stores in 32 states.For more information on Five Below, visit www.fivebelow.com.For more information about the Governor’s Action Team or DCED visit dced.pa.gov.Like Governor Tom Wolf on Facebook: Facebook.com/GovernorWolflast_img read more

Dangote: I’ll buy Arsenal in 2021

first_imgRelatedPosts Runarsson joins Arsenal on four-year deal Arsenal, Wolves want Michael Olise Akpom pens Middlesbrough loan deal The richest man in Africa, Aliko Dangote, has revealed his plans to buy Arsenal in 2021, with the billionaire Gunners fan determined to oust absentee owner Stan Kroenke. The Nigerian boasts a net worth of more than £8.5 billion and made his fortune after founding Dangote Cement, Africa’s largest cement producer – with the 62-year-old also owning stakes in publicly-traded salt, sugar and flour manufacturing companies. He had promised a takeover bid in 2020, but with his Dangote Refinery – set to be one of the world’s largest oil refineries – still in construction, he has moved the date forward. Arsenal fans’ frustration with current owner Kroenke has been bubbling for years, with the Denver Nuggets and LA Rams owner rarely showing his face at the Emirates, while Arsenal continue to look rudderless behind the scenes in their search for a route back to the top four. Fans would certainly welcome a change in ownership, and Dangote could radically change Arsenal’s fortunes. “It is a team that yes I would like to buy some day, but what I keep saying is we have $20 billion worth of projects and that’s what I really want to concentrate on,” Dangote told the David Rubenstein Show. “I’m trying to finish building the company and then after we finish, maybe some time in 2021 we can. “I’m not buying Arsenal right now. “I’m buying Arsenal when I finish all these projects because I’m trying to take the company to the next level.” Arsenal have been left languishing in 10th in the Premier League after a torrid end of Unai Emery’s reign, but have shown signs of life after the appointment of Mikel Arteta. Scrutiny on the Arsenal owners and board was ratcheted up during the miserable winless run that eventually saw Emery sacked. Kroenke’s son, Josh, is a Director on the Arsenal board, and told fans to “be excited” in the summer – after the Gunners signed Nicholas Pepe for a club record fee, as well as Kieran Tierney and David Luiz. There wasn’t much excitement by December though, and banners calling for the Kroenkes to leave were on show once again. The pressure will be somewhat relieved if Arteta delivers on the early positives showed in the 2-0 win over Manchester United, but Arsenal fans will still be hoping Dangote follows through on the promise he made in 2018 that: “Even if somebody buys, we will still go after it.”Tags: Aliko DangoteArsenalMikel ArtetaStan Kroenkelast_img read more