The company that owns the Burlington Coat Factory retail chain will build a new $41 million headquarters in South Jersey with $40 million in state aid, rather than moving to Pennsylvania, according to a deal announced by Gov. Christie's office.
The Bain Capital-owned retailer would build a 180,000-square-foot new facility in Florence, Burlington County, to replace headquarters in Burlington that currently employ 626 people. The move would create 120 new full-time positions, the governor's office said.
The Christie administration approved a $40 million GrowNJ award consisting of tax credits for the company, which has 482 stores in 44 states and Puerto Rico. The company did not return a call for comment Wednesday.