Navarro Research and Engineering Inc. acquired the Tech 2020 building late last week, the Oak Ridge Chamber of Commerce said Monday, July 25, 2016. The purchase of the building will allow the company’s corporate headquarters to remain in Oak Ridge, retaining more than 100 jobs in the community. The board of directors for Technology 2020 voted Tuesday, Jan. 26, 2016, to wind down operations after more than two decades of operations. (Photo by John Huotari/Oak Ridge Today)
Navarro Research and Engineering Inc. acquired the Tech 2020 building in Oak Ridge late last week. The purchase of the building will allow the company’s corporate headquarters to remain in Oak Ridge, retaining more than 100 jobs in the community, a press release said.
The Tech 2020 building was placed on the market following the January 2016 announcement that the organization would be winding down operations. Tech 2020 was a nonprofit organization that had focused on technology-based entrepreneurial support and access to capital. The organization contributed to the success of several area start-ups.
“We are pleased that Navarro has found a new home in the Tech 2020 building,” said Phil Andrews, chief financial officer of Oak Ridge Associated Universities and chair of the Oak Ridge Chamber of Commerce’s board of directors. “It’s a win for the community to be able to keep the company and employees in Oak Ridge. The fact that the company has purchased a building, rather than leasing or renting one, shows the kind of commitment Navarro has to the city.” [Read more…]
