Mar 10 2016
Citizens Financial Group (“Citizens”) today announced plans to build a new corporate campus in Johnston, RI. The new campus will bring together more than 3,200 colleagues, primarily from a Cranston location with a lease set to expire in 2018. The Citizens headquarters will remain in Providence.
The new Citizens Bank campus will be located on a currently undeveloped parcel of land on the west side of Interstate 295 in Johnston. The design unveiled today includes approximately 420,000 square feet of office and meeting space including a call center and executive offices. It will feature dining, fitness and retail facilities for colleagues and fields and trails that will be available for use by the local community.
“As we continue to work towards our goal of making Citizens Bank one of the top-performing regional banks in the country, we are very excited today to announce Johnston, Rhode Island as the future home of a new Citizens campus,” said Bruce Van Saun, Chairman and CEO. “This is a great site that will allow us to cost effectively build a campus with modern amenities to suit our needs. We are grateful for the collaboration we have received from state and local officials leading up to this decision and we look forward to breaking ground later this year.”
The Citizens campus is made possible in part by infrastructure improvements like the extension of sewer lines into the area by the Narragansett Bay Commission. The project also will include the construction of a new exit for Interstate 295, the estimated cost of which will be split by the Rhode Island Department of Transportation and Citizens. A 20-year property tax agreement is pending approval from the Johnston Town Council.
“I couldn’t be more proud that Citizens is choosing to stay true to its roots by building a remarkable corporate campus here in Johnston while maintaining its headquarters in downtown Providence,” said Governor Gina M. Raimondo. “This project will bring much-needed construction jobs to our state in the short term as well as significant long-term economic activity that will contribute to Rhode Island’s comeback.”
“Today’s announcement marks a major milestone in the history of Johnston,” Johnston Mayor Joseph Polisena said. “The new Citizens campus will deliver an immediate boost to our tax base, and I fully expect that other businesses will want to come to Johnston to serve the more than 3,000 Citizens colleagues who will be here every day, creating additional jobs and tax revenue. Local residents and developers who want to build in this area also will benefit from the coming infrastructure improvements. This is a big win for Johnston. I am very proud that Citizens has chosen our town for a project of this size, and I look forward to the Citizens Bank family becoming part of our Johnston family.”
Construction is expected to commence later this year, with occupancy projected for late 2018.
Source: http://www.citizensbank.com/