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Governor Shapiro secures major new investment from Urban Outfitters, Inc., expanding operations in Pennsylvania and creating at least 1,050 new jobs in Philadelphia and Bucks County. * June 8, 2026 Homegrown, Pennsylvania-based company will add at least 450 jobs at its headquarters at Philadelphia's Navy Yard and a minimum of 600 jobs at a new, state-of-the-art Nuuly facility in Bucks County, while retaining current employment levels in Lancaster and Indiana counties. Since taking office, Governor Josh Shapiro and his Administration have competed for and won over $41 billion in private sector investments that are creating more than 24,000 new jobs and driving economic growth across the Commonwealth. Under the Governor's leadership, Pennsylvania's economy is one of the strongest in the nation ― and is the only state in the Northeast with a growing economy. Philadelphia, PA - Today, Governor Josh Shapiro and Lieutenant Governor Austin Davis announced the Commonwealth has secured a major new investment from Urban Outfitters, Inc. (URBN), a portfolio of lifestyle brands, to expand operations in Philadelphia and Bucks County. As part of its commitment to the Commonwealth, the company will create at least 1,050 new jobs, retain existing jobs, and build a new facility for its Nuuly brand in Falls Township. URBN will invest at least $150 million in capital, create 450 jobs at its headquarters at the Philadelphia Navy Yard, and create an additional 600 jobs at its new, state-of-the-art Nuuly facility in Bucks County. The company will also retain existing positions in Lancaster and Indiana counties. Beyond their initial commitment, URBN may spend more than $50 million in additional capital investments that could further raise the number of new jobs created in the Commonwealth. "Urban Outfitters was built from the ground up in Philadelphia more than five decades ago - and we are proud that this company is continuing to grow and create jobs all across our Commonwealth," said Governor Shapiro. "Pennsylvania is leading in economic development because we are focused on strengthening our skilled workforce, cutting red tape, and making smart, strategic investments that help businesses grow and succeed. That economic development strategy supports growing businesses like URBN who want to take advantage of everything Pennsylvania has to offer - and my Administration is going to continue to create jobs and opportunity all across our Commonwealth." Founded in 1970, URBN has grown from one store in West Philadelphia into a global portfolio. Today, the company includes retail brands like Urban Outfitters, Anthropologie, Free People, FP Movement, and Terrain, as well as a rental subscription service, Nuuly, and restaurants and event venues under the Menus & Venues banner. "We should never forget that Philadelphia is the place where America started and where creativity and freedom have thrived for hundreds of years - so it's no surprise that an innovative company like Urban Outfitters got its start here and has grown over nearly five decades to become a global retailer," said Lieutenant Governor Austin Davis. "With the investments they're making at this facility and across the Commonwealth, this company will continue growing for decades to come. We're not just creating and retaining jobs - we're creating ladders of opportunity, so that everyone can live their American dream, whatever that looks like to them, right here in Pennsylvania." The company relocated its headquarters from Center City to the Philadelphia Navy Yard in 2006, investing more than $100 million to transform several historic shipyard facilities into offices, meeting spaces, photo studios, a coffee shop, a cafeteria, and a gym for URBN employees. The company's presence at the Navy Yard has grown from five buildings to fifteen ― including the newly-opened 117,000 square foot Building 16 - and from 500 hundred employees to more than 2,500. "URBN's roots are firmly in Philadelphia, from our beginnings at 43rd and Locust 56 years ago, to our 20-year history here at the Navy Yard. Celebrating this anniversary alongside the opening of Building 16 is a proud moment for our company," said Richard A. Hayne, Chief Executive Officer, URBN. "Our relationship with the state has been vital to our success, and we look forward to creating more jobs and continuing our investment in Pennsylvania." As part of URBN's commitment to growing in Pennsylvania, the Commonwealth extended state level Keystone Opportunity Zone (KOZ) benefits to the company. "URBN has been a key player in transforming the Philadelphia Navy Yard back into a thriving center for economic activity and we're proud to support their continued investment in Pennsylvania," said Department of Community and Economic Development Secretary Rick Siger. "This new investment from the company not only retains critical jobs in Central and Western Pennsylvania, but also serves as an engine for job growth in Philadelphia and Bucks County. The Shapiro Administration will continue to support thriving businesses like URBN that help boost our economy and create real opportunity for Pennsylvanians." Shapiro-Davis Administration's Progress to Grow Pennsylvania's Workforce and Strengthen the Economy In every corner of the Commonwealth, businesses are expanding and creating real opportunities for Pennsylvanians - from McCarl's in Beaver County, Vylor in Delaware County, Bonduelle in Philadelphia, Mondi Bags in Allegheny County, WebFX in Harrisburg, Premier Brands of America in Lackawanna County, John Brothers Holdings in Union County, TerraPower Isotopes in Philadelphia, Schreiber Foods in Cumberland County, Berwick Industries in Columbia County, Johnson & Johnson in Montgomery County, Eli Lilly in Lehigh County, Eurofins in Lancaster County, Calgon Carbon Corporation in Pittsburgh, DrinkPAK in Philadelphia, Farm Plast in Lycoming County, US Durum in Dauphin County, First Quality in Mifflin County, Eos in Allegheny County, Nichols Portland in Elk County, Imperial Systems in Mercer County, Qualex in Venango County, and Tate in York County. Pennsylvania's Business Climate and Growing Economy is Earning National Recognition Since taking office, Governor Shapiro has made Pennsylvania more competitive - attracting over $41 billion in private-sector investment while creating more than 24,000 good-paying jobs across the Commonwealth and earning national recognition. * Pennsylvania is the only state in the Northeast with a growing economy, based on analysis done by Moody's Analytics Chief Economist Mark Zandi. * Last year, according to a new analysis of data from the U.S. Bureau of Labor Statistics, the Commonwealth ranked third in the nation for job growth. * Area Development ranked Pennsylvania among the top 20 "Best States for Business" - the only Northeastern state to make the list - and placed the Commonwealth in the top 10 for "Site Readiness Programs." * Site Selection Magazine named Pennsylvania one of the top business climates in the nation. * Data from the U.S. Bureau of Labor Statistics shows that Pennsylvania ranks among the top states in the nation for five-year new business survival. Governor Shapiro's 2026-27 budget proposal builds on this momentum by investing in long-term economic growth and ensuring communities across the Commonwealth can compete and win. Over the last three years, the Governor has been laser-focused on delivering results for the people of Pennsylvania - and it's working.

Urban Outfitters' rental subsidiary Nuuly has expanded with an AI-powered styling tool, broader menswear range and partnerships with emerging designers offering over 50 monthly swaps. The move comes as Custom Market Insights projects the global fashion rental market could reach $9.18 billion by 2035. Nuuly recently launched an in-store returns programme at Urban Outfitters locations, linking the rental platform more closely with the core retail footprint. The expansion targets Millennial and Gen Z preferences for sustainable, flexible wardrobes. Urban Outfitters' investment narrative projects $7.5 billion revenue and $563.2 million earnings by 2029, requiring 6.8% annual revenue growth. However, analysts note that rising tariffs and higher operating costs could pressure margins, offsetting potential gains from Nuuly's recurring rental income.