Governor Kathy Hochul and American Express announced plans Wednesday for the financial services giant to build its new global headquarters at 2 World Trade Center, marking a major milestone as the final commercial office tower at the Lower Manhattan site.
The project involves a nearly 2 million square foot building spanning 55 floors. American Express will be the sole occupant of the tower, which is expected to be finished in 2031. The move represents a relocation from its current home at 200 Vesey Street, where the company has been based since 1986.
“The evidence keeps building: There is no better state than New York to do business,” Hochul said in a statement. She noted that the project will bring an iconic skyscraper to the skyline while creating thousands of jobs for New Yorkers.
Designed by the architecture firm Foster + Partners, the building at 200 Greenwich Street will feature flexible workspaces and more than an acre of outdoor space, including terraces and gardens. Silverstein Properties will develop the tower on land owned by the Port Authority of New York and New Jersey.
Construction is scheduled to begin in the spring of 2026. State officials estimated the project will create more than 2,000 union construction jobs and roughly 3,200 total jobs during the development phase. The project is expected to contribute approximately $5.9 billion to the economy of New York City and $6.3 billion to the state.
Stephen J. Squeri, the chairman and CEO of American Express, called the new headquarters an investment in the future of the company and the local community. Squeri said the building will be designed to encourage innovation and collaboration among the 10,000 employees it is built to host.
The announcement closes a long chapter in the redevelopment of the 16 acre World Trade Center campus. American Express, which traces its roots in the city back to 1850, plans to maintain its presence at its current headquarters until the new facility is ready for occupancy. The new tower will incorporate advanced building technology and focus on environmental sustainability, according to the company. While the total cost of the project was not disclosed, American Express stated the investment would not have a material impact on its financial results.
For Governor Hochul, the agreement serves as a cornerstone of her broader economic development agenda, which emphasizes corporate retention and the revitalization of New York City as a premier global hub. By securing a long term commitment from a major financial institution, she directly addresses concerns about businesses leaving the state for lower tax jurisdictions. The project also aligns with her “Let Them Build” initiative to streamline major infrastructure and development across New York. Furthermore, the emphasis on union labor reinforces the governor’s alliance with organized trades, positioning the completion of the World Trade Center site as both a symbolic and economic victory for her administration.
