If construction continues as planned, GTECH Holdings Corporation will be able to move its world headquarters into its new 10-story, $80 million building in downtown Providence by the end of 2006.
GTECH, the world's number one provider of lottery systems and services, was founded in Providence in 1978, but located its headquarters in West Greenwich, R.I. in 1990. The company chose to relocate to Providence over Boston as part of a deal made by Governor Donald Carcieri '65, Rhode Island's economic development agency, legislative leaders and congressional delegation, which gave GTECH the right to run the state's lottery operations for 20 years.
Although the top of the building, located on the corner of Francis Street and Memorial Boulevard, will feature a 6.5 foot tall illuminated GTECH logo, the company will only occupy four of the floors. GTECH will be the primary tenant, though USAA Real Estate owns the building. GTECH has collaborated with developer Commonwealth Ventures, LLC, the architect firm Spagnolo, Gisness & Associates and the construction firm Gilbane Company, helping to design the building.
The first floor of the building will have restaurants and shops designed to attract business from workers in the building and also complement the Providence Place Mall. There will be a 250-space parking garage included in the project to accommodate increased business. While new tenants are not yet public, Commonwealth Ventures, LLC will make announcements soon, according to Richard Galvin '79, president and founder of the company. The building's owners just began to actively market the other office space in the building, Galvin said, adding that the company chose to "hold off until the steel was up."
Right now, the majority of the construction effort, which began in December 2004, has centered on finishing the exterior walls of the building and getting the building weather-tight for the upcoming winter. After that has been done, the interior systems can be put in.
The modern design of the building was approved after a six-month process by the Capital Center Commission, an oversight board charged with supervising development of the 77-acre Capital Center District in front of the Rhode Island State House. The central location of the building will "further upgrade the skyline of Providence and cement Water Place Park and the capital as a center for growth," Galvin said.
GTECH's 500 employees, its customers and employees of other companies in the building will bring business to the downtown. The central location will give GTECH's local, national and international customers better access to hotels and restaurants in Providence. In addition, the headquarters will offer an easier commute than the 22-mile trek from Providence to West Greenwich. About 50 percent of GTECH's customers come from international locations, according to Donald Stanford '72 GS '77, adjunct professor of computer science.
Brown also stands to benefit from GTECH's relocation. Currently, GTECH pays $25,000 as a partner in the Computer Science Department's Industrial Partners Program. This partnership helps to connect professors and students with leaders in computer-related industries.
"The academic-industrial relationship needs constant work to keep it vibrant," Stanford said. Stanford is a recently retired GTECH employee and GTECH Holding Fellow who currently advises the company. He sees roles for both students and faculty in the company, particularly in helping with research and development through computer science and engineering. He added that GTECH is very interested in hiring graduates with the "right skill sets to help keep them in Rhode Island," which will offer an "opportunity to strengthen both institutions."
Stanford echoed Galvin's assessment of the effect of GTECH's move into the downtown area: "Overall, this is a positive thing for Providence."
