Firearm Company to Sign New Lease, Resume Operations in Pflugerville

After misfiring earlier this year, Pflugerville-based firearms manufacturer TrackingPoint has signed a new lease and will resume operations.

The gun maker shut down operations in May and laid off 20 employees, reported the Austin Business Journal. But the hiatus will prove to be short-lived. In September the company announced, “the successful completion of a financial and operational restructuring.”

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At that time, the company resumed fulfilling customer orders. TrackingPoint signed a new lease Wednesday with the Pflugerville Community Development Corp., reported Community Impact Newspaper. The company will be moving into a smaller building in the 130 Commerce Center. The PCDC originally incentivized TrackingPoint’s relocation to Pflugerville, giving it $5,000 per job created in 2013. Due to this year’s closing, the gun company will have to reimburse the PCDC for some of those incentives.

“TrackingPoint came to us with a company-wide financial restructure and new marketing strategy. PCDC negotiated a fair and equitable lease agreement that provides for incentive reimbursements while allowing TrackingPoint to continue operations for their world-class firearms,” PCDC Interim Executive Director Amy Madison said in a statement.

TackingPoint also has the chance to relieve some of the debt owed to the PCDC as additional jobs are created at the new facility.

“TrackingPoint applauds the leadership and creativity from our partners at PCDC to work with us during our transition period,” TrackingPoint CEO Frank Bruno told Community Impact. “TrackingPoint is back on strong financial footing and this agreement allows us to continue doing what we do best—creating innovative shooting systems for law enforcement and the military. This is a new start for TrackingPoint and we are prepared for long-term success.”

TrackingPoint is a company that creates precision-guided firearms, “A revolutionary new shooting system that puts fighter jet lock-and-launch technology in small arms, enabling shooters to make shots previously considered beyond human ability,” states a press release from the company.