Governor Corbett, Mayor Nutter Announce Janney Montgomery Scott's Plans for New Philadelphia Headquarters; Ongoing Job Growth

PHILADELPHIA, Oct. 19, 2011 /PRNewswire-USNewswire/ -- Governor Tom Corbett, along with Philadelphia Mayor Michael Nutter, today toured Janney Montgomery Scott LLC to announce the firm's decision to retain its headquarters in Center City Philadelphia, recognize its recent growth as an employer in the city, and celebrate the firm's plans for creating 100 new jobs in Philadelphia in the next three-to-five years.

"This event today underscores my three main goals: Jobs, jobs and more jobs," said Gov. Corbett. "We need jobs now, here in the commonwealth and this administration is ready to work full-time on making sure our people have them."

At the event, Timothy C. Scheve, president and CEO of Janney Montgomery Scott, LLC, unveiled plans for the new 146,000-square-foot headquarters to be located at 1717 Arch St. in Center City. Along with plans for its new headquarters, which will keep 550 current local employees in the city, Janney announced its plans to add some 100 new jobs in Philadelphia in the next three years.

"Janney Montgomery Scott has made a smart choice by deciding to expand its headquarters here in Center City," said Mayor Michael A. Nutter. "Janney is an exceptional corporate citizen in our community; I am convinced that the firm will continue to grow, adding jobs and keeping more professionals living and working in our region."

"Janney traces its roots in Philadelphia back to 1832 and we are excited to begin the next chapter in our history when we move to our new headquarters on Arch Street next year," said Scheve. "This is a great city for business and this region offers a tremendous quality of life for our employees. We are thankful for the support of the city and the state as we continue our commitment to this region."

Despite a volatile economy, Janney has maintained strong financials and created jobs in recent years. The 100 new jobs to be created will be a range of professional financial services positions, including traders, financial analysts and investment bankers, along with associated administrative support staff.  

"Today marks a win-win for Pennsylvania, for Philadelphia and for the hard-working people of this city," said Corbett.  "What this region offers is talent and work ethic and one of the jobs of government is to recognize and promote those things. We were able to put forward an offer that not only saved 548 Pennsylvania jobs, but also brought a guarantee of another 100 positions."

Established in 1832, Janney Montgomery Scott LLC provides comprehensive financial advice and superior service to individual, corporate and institutional investors. The firm employs almost 1,000 Pennsylvanians statewide.

Media contact: Kelli Roberts, 717-783-1116

SOURCE Pennsylvania Office of the Governor