PFLUGERVILLE, Texas, April 25, 2013 /PRNewswire-USNewswire/ -- The Pflugerville Community Development Corporation (PCDC) today announced that TrackingPoint, Inc., an applied technology company that designs, develops and manufactures the world's first precision-guided firearms (PGFs), will relocate and expand its corporate headquarters, manufacturing, and research and development (R&D) facilities to a 48,000-square-feet office space in the 130 Business Park at 130 Commerce Center in Pflugerville. The company will also construct a $3 million, 500-yard ballistics laboratory on a 20-acre tract at the site.
TrackingPoint's total capital investment at the new Pflugerville location is expected to be approximately $6.7 million for the finish-out of the office building, personal property expenditures and construction of the longest ballistics lab in the world.
According to an economic impact study commissioned by the PCDC, TrackingPoint will generate an additional $7.68 million toward the local tax base in the next 10 years.
"We are successfully attracting corporate headquarters to 130 Commerce Center to build the daytime population of Pflugerville, which helps attract retail, builds our tax base, provides job opportunities to our residents, and ultimately enhances the quality of life in Pflugerville," PCDC Executive Director Floyd Akers said. "Adding innovative, growing companies like TrackingPoint will provide a large number of high-paying jobs with benefits and bring more opportunities to our residents."
TrackingPoint currently has 72 employees in Austin with an average annual salary of more than $100,000. The company is growing and expects to employ more than 90 workers by the end of the year, and 120 by the end of 2014. More than half the staff works on the R&D team. The company currently has 15 open requisitions for experienced professionals with technical backgrounds, high-tech manufacturing, and firearms experience.
The company selected the location for three main reasons: Pflugerville is a business-friendly community that provided incentives based on capital investment and jobs, general community and elected-official support for the Second Amendment that protects the right to keep and bear arms under the United States Bill of Rights, and the convenient location and accessibility within Central Texas.
"We knew that Pflugerville was very pro-business, but it was also important to us to locate in a place our employees could easily access. 130 Commerce Center in Pflugerville offered us exactly what we needed—a high-quality, affordable business park with room for growth located on a state highway in the heart of Central Texas," said John McHale, TrackingPoint founder and CEO. "With our experienced executive team and board of directors, a highly educated, innovative and hard working staff, and now a location where our business can prosper and grow, we will be able to take modern-day technology and integrate it with firearms to revolutionize the gun industry, which has been stagnant for more than a century."
TrackingPoint was founded in Austin in 2011. In January, the company introduced its first product—the XactSystem, which features fighter jet lock-and-launch technology in a shooting system. Each XactSystem is composed of a rifle, networked tracking scope, integrated guided trigger, ammunition, an iPad mini, and a custom hard case. Products are differentiated by caliber, barrel length, chassis system, application, and ammunition. The company already has a significant backorder position and will begin shipping products in May.
PFGs are ideal for extreme distance hunting and long-range target shooting, but they have a variety of additional uses, such as government applications.
"The move and expansion of TrackingPoint to Pflugerville is exciting as it will add to an already vibrant local economy. As a gun owner and committed supporter of our Second Amendment rights, it is encouraging to see TrackingPoint's use of applied technology to produce cutting edge products," U.S. Congressman Bill Flores said. "I applaud TrackingPoint for moving its headquarters to Pflugerville as it will bring jobs, stimulate the local economy and help attract future businesses to call Pflugerville home."
About 130 Commerce Center
130 Commerce Center is a 160-acre, master-planned, mixed-use development located at the southwest corner of SH 130 and Pecan Street in Pflugerville. Pecan 130 Business Park is a light-industrial/flex project that includes plans for six 120,000 square foot buildings within the 130 Commerce Center development.
The PCDC bought the 160 acres to develop the site as a mixed-use development in 2008. Commercial real estate firm Don Quick and Associates was later hired by the PCDC to help market and sell the land at 130 Commerce Center. The developer of the Pecan 130 Business Park also hired Don Quick and Associates to help secure lease agreements for its light industrial buildings.
TrackingPoint is expected to be the first occupant at 130 Commerce Center with an anticipated move in around September.
Last year, Community Impact Newspaper also announced plans to build a new corporate headquarters at 130 Commerce Center. Construction on that project began in December and is expected to be complete in fall 2013.
About the Pflugerville Community Development Corporation
The Pflugerville Community Development Corporation promotes Pflugerville as a desirable place for new businesses to operate. The organization also supports existing businesses by helping to address their needs. PCDC can provide funding for use as an incentive to businesses to begin doing business in Pflugerville. PCDC funds, which are 4B money generated from a half-cent of the city's sales tax revenue, can also be used to construct needed infrastructure such as roads, utilities and drainage projects. Located 16 miles northeast of Austin and just south of Round Rock, Pflugerville is well-situated in Central Texas. New state highways 45 and 130 and Interstate Highway 35 all offer direct access to other nearby cities and the region's main airport. For more information, visit www.pfdevelopment.com.
About TrackingPoint, Inc.
TrackingPoint is a Texas-based applied technology company that created the first Precision Guided Firearm, a revolutionary new long-range shooting system that puts jet fighter "lock-and-launch" technology in a rifle, enabling anyone to accurately hit targets at extended range. For more information, visit www.tracking-point.com.
Stansbury Public Relations
SOURCE Pflugerville Community Development Corporation