The company will employ more than 300 people at its new site and will be hiring in the coming months. According to John Rago, director of communication and policy development for the city, such grants are commonplace. "We will work out various incentives to companies to move to the city, depending on the number of employees and the additional jobs they plan to add within a certain period of time," he tells GlobeSt.com.

The Phillips and Cohen lease is one of five new leases secured by Pettinaro Co. for the company's Christina Riverfront properties here. These include the Christina Crescent Building on North West Street, and the Red Brick Building and Shipyard Shops, both located on South Madison Street.

Other leases include 10,129 sf on the ground floor of the Christina Crescent Building on N. West Street by the Gooddard School; 4,360 sf by the Star Group, on the ground floor of the Christina Crescent Building; and Crescent Dental's lease for 1,945 sf at the same building. These three new tenants, along with current tenants Cosi Restaurant and Barclays Bank take the Christina Crescent Building to 100% occupancy. The Red Brick Building on South Madison Street also came to full occupancy with the final 1,378 sf of available office leased to a new advertising and marketing company.