The country’s most respected diamond grading lab, the Gemological Institute of America or GIA, has planned on moving its grading lab in New York City to the new International Gem Tower, a building created for the purpose of housing businesses involved in the diamond and jewelry trade. A project of Extell Development Co., the tower is currently under construction and is set for completion in 2012. Located at 50 West 47th Street, the building will be in the middle of the busy New York City diamond district.

One 30,000 sq. ft. floor will be dedicated to the GIA’s laboratory allowing the non profit company to continue developing new services and enhancing its business processes further benefiting the diamond and gem markets.