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LI firm to supply Freedom Tower cornerstone at July 4 event.

Innovative Stone is donating--as well as cutting, polishing, engraving and transporting--a 22-ton slab of granite and garnet to be used as the cornerstone on the new Freedom Tower site.

Dubbed by Innovative as "Freedom Stone," it will be unveiled by Gov. George Pataki at a special ceremony on July 4 and was specially selected by the Governor as garnet is the official gemstone of New York State.

Also, the New York State Common Retirement Fund recently announced a $3 million investment in Innovative Stone, to be matched by private equity firm Easton Hunt Capital Partners, for a total of $6 million in financing.

The investment is part of New York State Comptroller Alan Hevesi's instate investment program, "helping New York's home-grown businesses expand while providing a strong return for the Fund."

Karen Pearse is founder and CEO of Innovative Stone, a Long Island-based company that locates, quarries, designs, fabricates and supplies natural stone for thousands of hotels, malls, casinos, museums, theaters, restaurants and retail stores around the world.

Her prestigious client roster ranges from the Palace of the Lost City in South Africa, the MGM Grand Hotel in Las Vegas, and the Plaza Vespucio Mall in Chile to such major retailers as Blockbuster, Bloomingdale's, Neiman Marcus, Nordstrom, Macy's and Tiffany.

Pearse was born into a Queens, NY family-owned flooring business. While studying the dimensional stone business in Europe, she launched Innovative Marble and Tile in 1981 and has since built it into Innovative Stone, a multi-million dollar natural stone company with an exclusive global network of stone and tile resources, bulk-buying capabilities, project management expertise and installation.

Now, Pearse is bringing the same excellent standards of customer focus and creative solutions from the commercial arena to the explosive home improvement market, helping decorators and homeowners with every budget enjoy the affordable luxury and timeless elegance of natural stone in residential settings.
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Title Annotation:Innovative Stone
Publication:Real Estate Weekly
Geographic Code:1U2NY
Date:Jun 30, 2004
Previous Article:Construction lagging in recovery, say contractors.
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