Philips Electronics to Relocate Regional HQ to Mass.

Philips Electronics North America, a unit of Netherlands-based Royal Philips Electronics, announced that it is relocating its regional headquarters from New York to Andover, Mass. The headquarters of Philips Electronics' health care and solid-state lighting businesses are already based in Massachusetts. The company said moving the regional headquarters will inject more than $266 million a year into the state's economy, and brings the company's workforce in Massachusetts to nearly 5000 employees.