The Comcast Center will rise toward the sky after all.
Comcast Corp. will move into a 1.2-million-square-foot, state-of-the-art office building, at 1701 John F. Kennedy Boulevard in Philadelphia upon its completion at the end of 2007 after signing a new, 15-and-one-half year lease, Pennsylvania Department of Community and Economic Development secretary Dennis Yablonsky said Monday.
Comcast will initially occupy 534,000 square feet, or approximately 44% of the building's rentable office space, and the company can request the construction of a second, 250,000-square-foot office building on the site.
The MSO currently has 1,300 corporate-headquarters employees, and it expects that number to rise to 1,900 by the time of the move. The company said it will have room for as many as 3,000-4,000 employees over the next decade.
"We are grateful for the support that [Pennsylvania] Gov. [Edward G.] Rendell and his team have given to this very important project,” Comcast chairman and CEO Brian L. Roberts said in a prepared statement.
“Creating jobs and economic development in Pennsylvania is in everyone's best interest, and we are proud to call the Commonwealth our home," he added.
"This project goes a long way in solidifying Comcast's long-term commitment to Philadelphia and the Commonwealth, while providing for future expansion capabilities," Yablonsky said in a prepared statement.
"Companies like Comcast, and the high-quality jobs they create and retain, are essential for Pennsylvania to become the economic leader it should be,” he added.