American Express breaks ground on new tower at 2 World Trade Center

American Express (NYSE: AXP) held a groundbreaking ceremony for its new global headquarters at 2 World Trade Center in Lower Manhattan, marking the start of construction on a building that will span nearly two million square feet and stand nearly 1,250 feet tall.

The company expects to begin welcoming employees to the new building in 2031. The project is described as the final commercial building to complete the World Trade Center campus redevelopment.

According to an economic impact analysis prepared by AKRF, the development is expected to create over 3,200 direct and indirect construction-related jobs in New York City, with an estimated contribution of approximately $5.9 billion to the city's economy and $6.3 billion to the New York State economy overall.

The ceremony was attended by New York City Mayor Zohran Kwame Mamdani, Port Authority of New York and New Jersey Executive Director Kathryn Garcia and Chairman Kevin O'Toole, Silverstein Properties CEO Lisa Silverstein, and Building and Construction Trades Council of Greater New York President Gary LaBarbera, among other officials.

American Express President of Enterprise Shared Services Denise Pickett said at the ceremony: "For American Express, this project is far more than a new headquarters. It is a reaffirmation of our belief in this city, our commitment to our colleagues, and our enduring connection to the community we have proudly called home for nearly two centuries."

New York Governor Kathy Hochul said the project would "cement the status of the World Trade Center campus as a premier location in our city for businesses from around the world to grow and thrive."

American Express was founded in 1850 and has maintained a presence in Lower Manhattan throughout its history. The new tower will be developed in partnership with Silverstein Properties.

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