Philips Electronics officially relocates HQ to Massachusetts

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Senior management from Philips Electronics North America, together with Mass. Gov. Deval Patrick, announced Tuesday that Andover, Mass., will serve as the company's new North American headquarters, where Philips Healthcare currently is based.

As a result of the move, Philips said that Massachusetts now houses its largest presence in North America, with nearly 5,000 employees, six major worksites and manufacturing facilities.

The company estimated that its presence will inject more than $266 million dollars in payroll into the Massachusetts economy annually, when taking into account the various Philips facilities, including executive and administrative offices, R &D, warehousing and manufacturing.  

During the last twelve months, Philips said it has grown from approximately 20,000 to more than 30,000 employees in the United States, with offices and operations at 50 major facilities in 22 states.