Austin tech company packs up HQ for short move north
Lured in part by financial incentives, a tech equipment manufacturer is moving its headquarters north from Austin to Pflugerville.
TesCom Inc. will move its headquarters to an existing building at 20200 Algreg Street, off the State Highway 130 toll road north of Stone Hill Town Center, according to an announcement. The relocation will bring 33 jobs to the city and the company plans to expand its headcount to 42 within five years.
The company received a $25,000 grant from the Pflugerville Community Development Corp. to pay for electric utility upgrades and other relocation costs.
TesCom makes components for telecommunications, GPS, lab and drone equipment. Major clients include such heavy-hitters at AT&T Inc. The company employs 50 people in the U.S.
Business park hits milestone
Additionally, the PCDC said Wednesday that its 130 Commerce Center has been fully leased. As a result, the PCDC is relieved almost two years ahead of schedule of its obligation to guarantee rents at the Commerce Center as per the terms of a master-lease agreement.
Austin Business Journal wrote recently about how important the center and its tax revenue are to the future of Pflugerville.
According to the PCDC, two industrial and office buildings in the park, with a total of 240,000 square feet, are now fully leased. Per the terms of PCDC’s economic development agreement with the landlord on the site, the PCDC had to hold the master lease on the property until the buildings were fully leased.
In all, the center is expected to eventually be home to 950 jobs. The 167-acre tract now has three hotels and a conference center, plus numerous commercial and industrial businesses.
Michael Theis, Staff Writer Austin Business Journal, Austin Business Journal, 11/30/16, bizjournals.com/austin