BNP Paribas Leaving KOP, Adding 300 Jobs In Wayne Expansion

KING OF PRUSSIA, PA — A growing global bank is expanding its footprint in southeastern Pennsylvania.

BNP Paribas, whose local headquarters is in King of Prussia, will move to a larger facility in Wayne as it enters the next phase of its expansion, bringing 300 new jobs to the area economy. They've committed $18 million to the project.

The move and expansion were facilitated by the state, which offered a $1.15 million grant and $837,000 in job creation tax credits.

“This is a major expansion supporting BNP Paribas’ global economic footprint that will bring many new jobs to the region,” Gov. Tom Wolf said Tuesday.

The 300 new jobs will all be full-time and will be added over the course of the next three years. In addition, 100 existing jobs will be retained.

BNP's current Pennsylvania headquarters is at the Croton Road Corporate Center and includes some 14,000 square feet.

The new Wayne facility on Chesterbrook Boulevard, which will be moved into by mid-2021, is nearly 59,000 square feet. The lease for the building is 20 years, the state said.

Bank officials said there will be workspace upgrades, and that they have plans to use the new headquarters to "support new ways of working" in light of the changes to work habits over the past year.

Europe-based BNP is in 71 countries worldwide and employs some 199,000 people.

This story was reported by Justin Heinze.

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