Citizens Bank Announces New Corporate Campus in Johnston
Thursday, March 10, 2016
Citizens Bank announced Wednesday that it plans to build a new corporate campus in Johnston, which will bring over more than 3,200 employees primarily from the current Cranston location, whose lease is set to expire in 2018.
The new Citizens Bank campus will be located on a currently undeveloped parcel of land on the west side of Interstate 295 in Johnston. It will include 420,000 square feet of office and meeting space including a call center and executive offices.
Citizens announced the facility will feature dining, fitness and retail facilities for employees and fields and trails that will be available for use by the local community.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTThe Citizens headquarters will remain in Providence.
Citizens, Leaders on the Record
“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, Citizens 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.
Related Slideshow: Top 15 Business Stories in 2015
Related Articles
- NEW: Citizens Bank Back Online After Computer Problems
- Citizens Bank Exec Jeanne Cola to Head RI LISC
- Citizens Bank Donates to RI Food Bank for Every PawSox Strike-Out
- NEW: Citizens Bank’s Ned Handy to Join Washington Trust
- PODCAST: Citizens Bank Looking at Superman Building for Corporate Headquarters
- Citizens Bank Provides $6.1 Million Loan for Wildtree Herbs, Inc.
- EXCLUSIVE: Citizens Bank Looking at Superman Building for Corporate Headquarters
- Citizens Bank Finances Moses Brown Construction With $27 Million
