3D Manufacturing Company Relocates Headquarters, Brings 170 High-Paying Jobs to Pflugerville
Friday, September 28, 2018
PFLUGERVILLE, Texas (Sept. 28, 2018) – The Pflugerville Community Development Corporation (PCDC) Board of Directors approved a deal yesterday with 3D manufacturing company Essentium Inc. at a Sept. 27 special meeting. The company is relocating its headquarters and expanding in Pflugerville, creating at least 170 jobs with positions ranging from scientists, chemists and various engineering and specialist roles that will have a minimum $75,000 average annual salary.
Essentium is moving both its corporate offices and manufacturing facility from College Station to Pflugerville early next year. The additive manufacturing company makes industrial solutions for the world’s top manufacturers. Aiming to bridge the gap between 3D printing and machining, Essentium offers high-tech solutions in the additive materials and manufacturing machine platform sectors, including custom products for the growing $6.7 billion prosthetics market.
“Additive manufacturing is one of the most disruptive technologies of our age and has been noted as the fourth industrial revolution due to its impact on medical, aerospace, automotive and defense industries,” PCDC Executive Director Amy Madison said. “The industry is expected to grow to $50 billion within the U.S. by 2025. That is why it is one of our target industries and a major focus for our strategic development plan.”
Pflugerville was recently noted as the “3D City” in Site Selection Magazine due to its recent concentration of 3D companies. Essentium will be the latest to join the rapidly growing portfolio of advanced manufacturing companies located in the community.
“Unique amongst peers, Pflugerville strategically identified itself as a city for which additive manufacturing represents the right of industrial growth,” noted Essentium Co-founder and CEO Blake Teipel, Ph.D. “The city has the right combination of a forward-thinking local government and a process that should provide confidence to other tech companies in knowing they can find willing partners in the PCDC through resources and support provided by Amy Madison and her team. Essentium looks forward to joining this thriving community and calling Pflugerville home for a long time to come.”
As part of the seven-year agreement Economic Performance Development Agreement, Essentium must invest at least $1.5 million in personal property, capital improvements and lease expenditures. Following relocation and establishment of operations in Pflugerville, PCDC will provide a $100,000 grant to Essentium for relocation expenses.
The company may also receive an additional grant of $2,500 per primary job for up to 170 primary jobs created in the city, not to exceed $425,000. To receive the total incentive possible, the agreement stipulates Essentium must retain the 170 jobs over a seven-year term.
The agreement is expected to go before the Pflugerville City Council for final approval Oct. 9.
View PDF version of release HERE
Category: Press Release