Citizens building campus in Johnston

CITIZENS BANK CEO Bruce Van Saun said the Johnson site will allow the bank to "cost effectively build a campus with modern amenities to suit our needs." / PBN FILE PHOTO/TRACY JENKINS
CITIZENS BANK CEO Bruce Van Saun said the Johnson site will allow the bank to "cost effectively build a campus with modern amenities to suit our needs." / PBN FILE PHOTO/TRACY JENKINS

(Updated 2:40 p.m., 3:48 p.m. and 6:20 p.m.)
JOHNSTON – Citizens Financial Group Inc. will build a new 420,000-square-foot corporate campus on the west side of Interstate 295 to consolidate more than 3,200 employees in 2018.
Bank executives on Wednesday met with city and state leaders at the Senior Center in Johnston to announce the new development, which will feature office and meeting space, a call center and executive offices, along with such amenities as dining, fitness and retail facilities for colleagues. The parent company of Citizens Bank, with $138.2 billion in total assets, has an 11-state footprint and is the largest Rhode Island-based bank. Its Providence headquarters are expected to stay put.
The consolidation will also include bringing together employees from the bank’s offices in Smithfield, East Providence and Warwick. The property is located north of the intersection of Greenville Avenue and Interstate 295 near the Greater Rhode Island Baptist Temple.

“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.
Construction is slated to begin later this year, with occupancy projected for late 2018. The timing coincides with the ending of the bank’s current lease for facilities in Cranston. The total projected cost of the project was not immediately disclosed, but it will require some new infrastructure. The Narragansett Bay Commission will need to extend sewer lines into the area and the bank says it’s splitting costs with the R.I. Department of Transportation to construct a new exit off of I-295.
The cost of building new ramps for I-295 will cost about $6 million and the state will contribute $3 million, according to a RIDOT spokesman, with construction set to begin in the spring of 2017.
A 20-year property tax treaty is pending approval with the Johnston Town Council.
A R.I. Commerce Corporation spokeswoman told Providence Business News that Citizens to date has not applied for, or received, any of the state’s business incentive programs.
“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,” Van Saun continued.

Gov. Gina M. Raimondo in a statement lauded the bank for its decision to build the corporate campus in Johnston, saying she’s proud Citizens is “choosing to stay true to its roots.”
“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,” she said.
Anthony Botelho, president of the R.I. Bankers Association, said Citizens’ announcement is a positive development from the association’s perspective because it “maintains jobs in Rhode Island and a renewed commitment to the state by a solid financial organization.”
Johnston Mayor Joseph Polisena estimates the new campus will deliver an immediate boost to his tax base and attract other businesses to his city.
“Today’s announcement marks a major milestone in the history of Johnston,” he said. “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.”

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  1. unlike many companies that are giving up their suburban campuses to move to a more urban environment. Citizens has chosen to buck the trend. This is a very anti public transit location..