Tech Dump, the growing electronics refurbisher and recycler, has acquired a building in St. Paul's Midway that is twice as large as its combined leased space in Golden Valley and Midway.
The seven-year-old nonprofit will pay about $3 million for a 90,000-square-foot building at 860 Vandalia St., not far from its 30,000 square feet of leased space on Prior Avenue.
CEO Amanda LaGrange said the new space will allow Tech Dump to double staff to about 100 and revenue to about $7 million by 2022.
"With increasing use of technology, we see huge potential for growth opportunities," said LaGrange, a former General Mills accountant. "Continued workforce shortages show work-readiness programs can play a crucial role in connecting untapped talent in our communities with local business."
LaGrange plans to make improvements to the building and occupy it by January.
The acquisition was financed by Sunrise Bank, Propel for Nonprofits, and a $130,000 grant and $170,000 low-interest loan from the city of St. Paul.
Mayor Melvin Carter said the city was pleased to support the expansion of "such a strong leader, committed to responsible e-waste management and helping people overcome employment barriers, grow and share their success in St. Paul."
Tech Dump Chairman Mark Evenson, a managing director at commercial real estate firm Avison Young, said the Vandalia Street property "is ideally situated, delivering convenience and accessibility to our customers, clients and most importantly to our employees."