Clearfield Inc. is moving its headquarters and factory from Plymouth to Brooklyn Park this month.
The fiber optics and telecommunications manufacturer has outgrown its current space.
"We had inventory stored in two off-site locations, cut through walls of adjacent office areas for cable cutting and added on to our space here three times. So it had a patchwork quilt" quality, said Clearfield CEO Cheri Beranek.
By the end of the month, the patchwork will be a thing of the past.
Clearfield spent $2.1 million to build out its newly leased space in a building on Winnetka Avenue N. Clearfield has signed a 10-year lease.
Clearfield's revenue rose 9 percent to $58 million in the company's 2014 fiscal year, which ended Sept. 30. Earnings rose 15 percent to $5.4 million amid an influx of new commercial customers and international sales. The company expanded into Tijuana, Mexico, last year and saw an uptick in business from customers in Central America and Canada.
In November, Clearfield introduced a stock repurchase program, in which the board of directors approved buying back up to $8 million worth of stock. Clearfield's stock price closed Friday at $12.13, up 9 cents a share.