Veeco Instruments to Move Corporate Headquarters from Long Island to Massachusetts

Semiconductor equipment manufacturer cites merger with Axcelis as reason for relocation from Plainview to Beverly, MA.

Apr. 16, 2026 at 7:40pm

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A highly detailed, photorealistic studio photograph of a polished metal semiconductor chip or circuit board component floating on a clean, white background, dramatically lit to create sharp shadows and highlight the sleek, premium design.The relocation of Veeco's corporate headquarters from Long Island to Massachusetts underscores the ongoing challenge of retaining high-tech businesses in the region.Plainview Today

Veeco Instruments Inc., a semiconductor equipment manufacturer based in Plainview, New York, has announced plans to move its corporate operations to Beverly, Massachusetts upon completion of a merger with Axcelis, another semiconductor company located in Beverly. The move marks the latest in a trend of businesses leaving Long Island due to high costs of electricity, taxes, and living.

Why it matters

The departure of Veeco's corporate headquarters is a blow to Long Island's business community, as it represents the loss of high-paying professional jobs in accounting, management, planning, economics, and law. This 'brain drain' has been an ongoing concern for the region, as companies cite the high costs of doing business as a primary reason for relocating elsewhere, often to the South or West where taxes and utilities are lower.

The details

Veeco, which has a total of 1,265 employees across 13 countries and 923 in the U.S., owns its building in Plainview but also leases space in other states. The company was profitable in 2025, earning $34.5 million on $664 million in sales, though those numbers were down from the prior year. Veeco CEO Bill Miller said the merger with Axcelis will help the company 'accelerate growth' in 2026.

  • In early March 2026, Veeco announced it would move its corporate operations to Beverly, Massachusetts.
  • The merger between Veeco and Axcelis is expected to be completed by the end of 2026.

The players

Veeco Instruments Inc.

A manufacturer of semiconductor equipment based in Plainview, New York.

Axcelis

A semiconductor company located in Beverly, Massachusetts that is merging with Veeco.

Bill Miller

CEO of Veeco Instruments.

Russell Low

CEO of Axcelis.

Tom Stringer

A business consultant on Long Island who has worked on deals to keep companies in the region.

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What they’re saying

“Following close of the deal, the headquarters of the combined company will be in Beverly.”

— Russell Low, CEO of Axcelis

“With an expanding backlog of orders, growing customer adoption of our new technologies, and the planned merger with Axcelis, we believe we are well-positioned to accelerate growth in 2026.”

— Bill Miller, CEO of Veeco Instruments

“This has been going on for the last 20 years. The reasons have to do with the high costs of electricity and taxes on the Island.”

— Tom Stringer, Business consultant

What’s next

The integration planning team comprising leaders from both Veeco and Axcelis will evaluate staffing needs for the combined company, though no final decisions have been made about potential layoffs.

The takeaway

Veeco's decision to relocate its corporate headquarters from Long Island to Massachusetts is the latest example of a troubling trend of businesses leaving the region due to high operating costs. Unless Long Island can find ways to reduce the financial burden on companies, the brain drain of high-paying professional jobs is likely to continue.