Teamvantage broke ground on its new facility last Wednesday. The manufacturer’s new 111,000-square-foot headquarters will keep Forest Lake’s largest non-government, non-retail employer in town long-term.
“We are very excited to have Teamvantage choose to build its new headquarters and manufacturing facility in Minnesota,” said Mayor Chris Johnson.
“We have begun to build a new momentum for Forest Lake. In addition to retaining over $6 million dollars in payroll in Forest Lake, the company expects to double that payroll over the next five years. Additionally, it has already led to at least one other company now consider moving to Forest Lake.”
The project also makes Teamvantage the first tenant in the industrial park located by the airport south of Highway 97. It is expected to create about 100 additional job positions. The company expects to move into the new facility next June.
Teamvantage specializes in contract manufacturing for the medical and aerospace/defense industries. It moved to Forest Lake from Hugo in 1992. The current facility at 22455 Everton Ave. N. employs about 110 workers.