Scottsdale-based Axon purchased $50 million worth of state land Thursday for the company’s new headquarters.
Axon purchased a 73.57-acre piece of land at the southeast corner of Hayden Road and the Loop 101 in Scottsdale at an Arizona State Land Department auction.
“We have proudly dedicated these past 27 years to developing innovative products for law enforcement and the communities they serve while also becoming a worldwide leader in public safety technologies,” Axon founder and CEO Rick Smith said in a press release Thursday. “With the land we just purchased, we have the space we need to continue to build on that work for generations to come.”
The bid exceeded the appraised market value by more than $17 million.
Axon has been headquartered in the Valley since 1993 and is most known for manufacturing body cameras and Tasers.
The expanded headquarters will be approximately 250,000 square feet to accommodate 1,500 employees, according to the release. As part of the purchase, Axon will finish Mayo Boulevard through the portion of land purchased.
The proceeds from the sale will be invested in the Permanent Land Endowment Trust Fund, which benefits K-12 education in Arizona.
Click here to read the full press release.