German tech manufacturer looks to move U.S. division HQ to Shrewsbury from Auburn
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Physik Instrumente hopes to move its headquarters to Centech Park North in Shrewsbury.
Physik Instrumente appeared before the Town of Shrewsbury Select Board on Wednesday, requesting a tax break to relocate its U.S. division headquarters from Auburn to Shrewsbury.
“As the company continues to grow, we are seeing a larger desire to build more of our products here in the U.S.,” PI U.S. President and Managing Director Matthew Reck said at the Select Board meeting. “We’re looking to invest here in the U.S. and bring manufacturing back to Massachusetts.”
The company is seeking to invest $9 million to build out 125,000 square feet of a 197,000-square-foot industrial building for corporate offices and manufacturing space at 384 South St. in Shrewsbury in the industrial park Centech Park North.
PI is negotiating with the developer Northbridge Partners of Wakefield to lease the space.
PI intends to consolidate 75 existing full-time jobs from Auburn, Hopkinton, and New Hampshire facilities into the Shrewsbury facility and hopes to add 100 more jobs, Reck said. The company’s average annual salary is $120,000, according to Reck’s presentation to the board.
Reck expects once a lease is signed, construction would be complete in 10-12 months.
News of Physik Instrumente’s planned relocation to Shrewsbury was first reported by Community Advocate.
Physik Instrumente is a German-based manufacturer specializing in precision instruments for manufacturers across a number of industries.
Details of the tax break, which would be a tax increment financing plan and a possible property tax exemption were not discussed at the meeting. The matter will likely be up for approval at the Shrewsbury Town Meeting in October.
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