Founded in 1999, Itasca Technology Exchange is a for-profit subsidiary of Itasca Economic Development Corporation and the State of Minnesota through the Iron Range Resources & Rehabilitation Board (IRRRB). Itasca Technology Exchange provides colocation, network services, and office space to technology-related businesses. These services are provided through its data center facility and over 7,000 of office space in Grand Rapids, Minnesota.

With a mission to support the diversification of the area economy by providing office space and network services to technology related companies and secure colocation space for local and regional businesses, ITE takes a leadership role in the region in the support of technology-based business development.