Coty Inc. Signs Lease at Cumberland Commerce Center
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March 16, 2009 | Print this page | Share This |
The Economic Development Foundation of Rhode Island, Inc. (“EDFRI”) announced that Coty Inc. has signed a lease for 5,500 square feet in Cumberland Commerce Center, Building II, Highland Corporate Park, Cumberland, Rhode Island.
Coty Inc. is a $4 billion, global beauty company employing over 8,500 people worldwide. Coty Inc. is headquartered in New York City and has manufactu ring and research and development facilities in the United Kingdom, Spain, France, Monaco and the United States. Coty Inc. has been in business for over 100 years and is a defined leader in the beauty industry with the mission to deliver fragrances and beauty products to consumers worldwide. Coty is active in the fragrances, color cosmetics, toiletries, skin care, sun care and personal care markets.
Marcel A. Valois, Chairman of the EDFRI, lauded Coty’s selection of the Cumberland Commerce Center for their new office facility. As stated by Valois, “Coty is a recognized global leader in their industry. Coty joins a prestigious list of quality companies that have selected the Highland Corporate Park/Cumberland” for new facilities.”
“In this time of high unemployment in Rhode Island and local budget constraints, it is very important to Cumberland to have a new business locate in our community,” said Cumberland Mayor Daniel J. McKee.
“We are very pleased to welcome Coty Inc. to Rhode Island,” said J. Michael Saul, interim executive director of the R.I. Economic Development Corporation (EDC). “Coty will be a great addition to the already robust consumer goods industry in the state, [and] the Highland Corporate Park is a perfect fit for Coty,” he said. “We are thrilled that Coty will expand their footprint, and look forward to working with the EDFRI to support Coty’s continued growth in Rhode Island.”
The Cumberland Commerce Center project encompasses three buildings totaling 78,000 square feet of flexible space. As explained by Scott A. Gibbs, President of EDFRI, Cumberland Commerce Center is being developed by EDFRI to accommodate quality companies seeking quality facilities in Rhode Island’s best planned corporate park. The first building was constructed in 2008 and is leased in its entirety to Neurotech Pharmaceuticals. Construction of the second building is nearing completion with a projected move-in date for Coty of May of this year. Gibbs indicated that EDFRI is currently working with several prospective companies for the second building. According to Gibbs, these prospective companies operate within the pharmaceutical and biotechnology industries.
CVS/Caremark recently announced the construction of two new office buildings in Highland/Cumberland totaling approximately 340,000 square feet. Other companies located in Highland/Cumberland include Tiffany & Co., Cintas Corporation, Polyrack North American Corp., The Hart Companies, Numark, TriLiteral, Proctor & Gamble, Unilever, Johnson & Johnson, Tedor Pharmaceuticals, Collegium Pharmaceuticals, and Novartis.
The Highland Corporate Park in Cumberland is a master planned, 240-acre technical manufacturing and office park. Highland/Cumberland is a project of The Economic Development Foundation of Rhode Island, a private, not-for-profit economic development corporation with the mission to retain and create quality jobs and to strengthen the tax bases of Rhode Island’s cities and towns.
More information about the EDFRI can be found at www.edf-ri.com. More information about the Highland Corporate Park in Cumberland can be found at www.hcpv.com. The EDFRI is located at 1300 Highland Corporate Drive, Suite 202, Cumberland, Rhode Island.
