JOHNSTON – Citizens Financial Group Inc. is on schedule to complete its 420,000-square-foot campus in time for employees to start working there in August.
Chairman and CEO Bruce Van Saun last week told Providence Business News the Johnston project is moving along smoothly.
Rhode Island business boosts efficiency and sustainability with Rhode Island Energy
Hexagon, a global technology and software company, develops products that combine sensor, software and autonomous…
Learn More
“We’re on schedule, pretty much on budget and we’ve had great cooperation from local and state authorities,” he said.
The Providence-based parent of Citizens Bank broke ground in August 2016. About 3,000 employees are expected to work there beginning in August. Construction costs were originally expected to exceed $200 million. Van Saun said the development to date has stayed relatively close to that estimate.
The buildings are now enclosed, Van Saun added, and builders are working on the interior. The campus will include various recreational grounds that will be open to the public. The chief executive plans to celebrate the opening of the campus with a ceremonial bocce game against Johnston Mayor Joseph M. Polisena.
The town in 2016 struck a tax-stabilization agreement with Citizens, which helped lure the company to build its campus there. The company is expected to pay the town $250,000 per year for 20 years for a total of $5 million.
“I marvel at how well the whole project is progressing,” Van Saun said.
Correction: An earlier version of this story misstated how much Citizens would pay Johnston each year under the tax-stabilization agreement.
Eli Sherman is a PBN staff writer. Email him at Sherman@PBN.com, or follow him on Twitter @Eli_Sherman.
