Citizens Bank announced this week it will create 525 new jobs and pledged to invest $40 million in renovation and expansion projects in Rhode Island in the next 16 months. The new jobs bring the total added in the state by Citizens since 1999 to 2,000.
President and CEO Joseph J. MarcAurele said the bank is adding the jobs and starting the expansion projects as a result of Citizens’ growth in New England, mid-Atlantic and Midwest states.
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Most of the new positions are in consumer finance, phone banking, technology, investments and operations. The salaries for the new jobs range from $30,000 to $70,000.
The renovations are slated for Citizens’ locations on Jefferson Boulevard East, South and West locations in Warwick, costing $4.7 million. At its Cranston operations center in the former Davol building, the bank plans to spend $7.5 million to house a major call center. More than $15 million is earmarked for two locations in East Providence operations facility.
The bank has begun renovating the former Bacou Dalloz USA Building in Smithfield at an estimated cost of $10.9 million. Approximately 150,000 square feet of new space is planned for the Cranston and Smithfield locations.
Also included in the $40 million total is a temporary facility in the former Apex building in Warwick.
For the expansion projects, Citizens received an exemption from the state sales tax on capital equipment purchases and construction materials. According to Citizens, the project indirectly contributed to $5.5 million construction jobs.
Rhode Island Gov. Donald L. Carcieri said by investing in both buildings and personnel, Citizens is “reaffirming its strong commitment to Rhode Island.”
“(The) announcement is further testimony to the fact that Rhode Island is a premier location for the financial services industry to grow and prosper.”
