Navarro Research and Engineering Inc. acquired the Tech 2020 building in Oak Ridge late last week. The purchase of the building will allow the companyâ€™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.
â€œWe are pleased that Navarro has found a new home in the Tech 2020 building,” saidÂ Phil Andrews, chief financial officer of Oak Ridge Associated Universities and chair of the Oak Ridge Chamber of Commerceâ€™s board of directors. “Itâ€™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.â€ [Read more…]