July 29, 2026
Eric Hartline/IMAGN Images via Reuters
Gov. Josh Shapiro said the state will invest $710,000 to support Nasdaq adding 100 new Philadelphia-based jobs over the next three years.
Nasdaq will expand its presence in Philadelphia by investing $6.2 million into operations in its University City office and pledging to add 100 new jobs over the next three years.
Gov. Josh Shapiro (D) announced the development Wednesday and said the state will support the company’s investment with a $710,000 grant from the Department of Community and Economic Development that will support the global financial technology firm's job creation initiative and help retain an additional 150 existing full-time roles.
The $6.2 million investment will be used to support a "long-term" lease extension at the Nasdaq PHLX office inside the FMC Tower at 2929 Walnut St. and to update trading technology and infrastructure.
“This investment reflects our confidence in Philadelphia and our long-term commitment to the region — growing our presence, creating new jobs and investing in the talent and operations that will support our business for years to come,” Tal Cohen, president of Nasdaq, said in a statement.
The Philadelphia Stock Exchange, the oldest securities exchange in the country, was acquired by Nasdaq for $652 million in 2007. It moved from its longtime home at 19th and Market streets to a 75,000 square foot space at the FMC tower in 2017.
Representatives with Nasdaq did not immediately respond to requests for comment about the length of the lease extension.
"This project brings new jobs and economic activity to Philadelphia while further strengthening Pennsylvania's position as a destination for leading global companies," Rick Siger, secretary of the Department of Community and Economic Development, said in a statement. "Investments like this demonstrate that our economic development strategy is working and reinforce why Pennsylvania is one of the best places in the nation to start, grow and expand a business."
