NEW YORK — American Express (NYSE: AXP) has unveiled plans to establish a new, cutting-edge global headquarters at 2 World Trade Center in Lower Manhattan. The company will serve as both the sole owner and occupant of the tower, which is scheduled for completion in 2031.
The project represents a long-term investment in the company’s growth, its workforce, and the Lower Manhattan community. Stephen J. Squeri, Chairman and Chief Executive Officer of American Express, emphasized that the move reinforces the company’s deep historical connection to New York City, where it has operated for nearly 200 years.
He described the future headquarters as more than just office space — a dynamic environment designed to inspire collaboration, innovation, and professional development.
Building Details And Design Vision
The new headquarters will encompass nearly two million square feet across 55 floors and is expected to accommodate up to 10,000 employees. The workspace will feature flexible, modern layouts intended to foster creativity and teamwork.
A notable highlight of the design is more than one acre of outdoor space, including landscaped terraces and gardens offering panoramic views of the Manhattan skyline. The building will incorporate advanced smart-building systems and operate with fully electric, energy-efficient infrastructure. The development aims to achieve Leadership in Energy and Environmental Design (LEED) certification.
The project is being developed by Silverstein Properties, with architectural design led by Foster + Partners.
Location And Development Structure
Situated at 200 Greenwich Street, the tower will be constructed on land owned by the Port Authority of New York and New Jersey, under a long-term ground lease arrangement.
Construction is slated to begin in spring 2026, with employees expected to move into the completed building in 2031. Until then, American Express will continue operating from its current headquarters at 200 Vesey Street, where it has been based since 1986.
Importantly, the company noted that the development is not anticipated to have a material effect on its financial results.
Economic Impact And Job Creation
The project is projected to generate substantial economic benefits for both New York City and the broader state. Over the course of construction, the development is expected to create more than 3,200 direct and indirect construction-related jobs within New York City.
Economic analysis estimates the project will contribute approximately $5.9 billion to New York City’s economy and $6.3 billion to the overall New York State economy.
Official Reactions
New York State Governor Kathy Hochul praised the investment as further evidence that New York remains a premier location for business expansion. She highlighted the creation of thousands of well-paying union jobs and the broader economic impact tied to the project.
Port Authority Chairman Kevin O’Toole described the advancement of 2 World Trade Center as a major milestone for both the campus and the region, reinforcing its status as a key commercial and transportation hub.
Executive Director Kathryn Garcia emphasized the project’s role in completing the World Trade Center office complex while strengthening the area’s appeal to global companies and workers.
Vice Chairman Jeffrey Lynford noted that developments of this magnitude support long-term financial performance for the Port Authority and generate steady revenue that can be reinvested into regional transportation infrastructure.
New York City Mayor Zohran Kwame Mamdani underscored the importance of union labor in delivering projects of this scale, describing the development as a meaningful source of good-paying jobs for working New Yorkers.
Project Partner Perspectives
Lisa Silverstein, CEO of Silverstein Properties, characterized American Express’ decision as a powerful endorsement of Lower Manhattan’s future and expressed confidence in completing the World Trade Center campus alongside such an established global brand.
Norman Foster, Founder and Executive Chairman of Foster + Partners, explained that the building’s design centers on sustainability and employee well-being. The inclusion of terraces and landscaped gardens is intended to create a healthier, more engaging work environment that aligns with American Express’ long-term vision.
About American Express
Founded in 1850 and headquartered in New York, American Express is a global payments and premium lifestyle company driven by technology. The brand is known for its longstanding commitment to trust, security, service excellence, and innovation.
Serving consumers, small and medium-sized enterprises, and large corporations, American Express manages relationships with millions of merchants worldwide while delivering differentiated products, services, and experiences aimed at supporting both personal lifestyles and business success.