Catalyzes the activation of phenylacetic acid (PA) to phenylacetyl-CoA (PA-CoA). 2-phenylacetate + ATP + CoA = AMP + diphosphate + phenylacetyl-CoA Aromatic compound metabolism; phenylacetate degradation. Monomer. Activated by cAMP receptor protein (CRP), integration host factor (IHF) and by phenylacetyl-coenzyme A that prevents PaaX from binding its target sequences. Inhibited by PaaX. Belongs to the phenylacetyl-CoA ligase family. Extended N-terminus.