On Thursday, PPL Corporation announced it will relocate its corporate headquarters to downtown Allentown.
Reaffirming its commitment to the city with a long-term lease agreement, the company said it would move to Two City Center as it looks to “right-size” its real estate space.
“We have been proud to call Allentown home for a century and, with the signing of a 20-year lease, plan to remain part of the city’s growth story for years to come,” PPL President and Chief Executive Officer Vincent Sorgi said. “As we look to the future, we’ve decided to move from our current location to optimize our use of real estate and to reduce overall costs for our customers.”
Officials said the company’s current location in and around the PPL Building has served the company well, but the new space will be better suited for current and future workforce needs. The company expects to move in the fall and will occupy about 107,000 square feet of space in its new location at 645 Hamilton Street. About 400 employees will come back to the office when the company moves, the company said.
“With this move, we remain as committed as ever to downtown Allentown, and we’re excited about our employees supporting downtown businesses,” Sorgi said. “We look forward to remaining a steady presence in the city, to engaging as we have for years to build a stronger community, and to keeping our corporate headquarters here as we create the utilities of the future in Pennsylvania, Kentucky, Virginia and Rhode Island.”