Contact: Jenni Goodman
Director of Communications For Immediate Release
(540)731-3603 April 24, 20323
Radford Council Votes to Exercise Option to Purchase Former Foundry Site
Radford, Va. – The City of Radford has decided to exercise an option to purchase the former Radford Foundry site currently owned by Virginia Castings, LLC, a Michigan limited liability company. After undergoing extensive environmental testing and assessment over the past 6 months, the Radford City Council, with the support of the Economic Development Authority believe there is no better time than now to purchase the property.
Mayor, David Horton said, "This is an exciting day for the City of Radford as we make plans for the future of this great community. By investing in West Radford for future commercial development, we open the door for many possibilities for economic success and opportunities for our citizens. It is a big part of the continued renaissance and resurgence of Radford as we work across the city to maximize areas for prosperity and sustainability."
The Radford Foundry was founded in 1880 as the Radford Iron and Coal Company and employed approximately 1,500 at its peak in the late 1970’s. The Foundry produced an array of ductile iron products from water / sewer pipes to auto parts until they closed their doors in 2013. The current site is 80 acres with approximately 30 acres or more of developable land.
“We are thrilled that the city has acquired the former VCI property. We believe this will play a pivotal role in Radford’s Economic future providing a place for industrial development and job creation of both small and large businesses.” said Abram Williams, Economic Development Authority Chair
With assistance from the Commonwealth, the city will pursue grants for remediation, site access, clean-up and redevelopment.
“This is a monumental day in Radford as we move forward on the acquisition of the former Foundry property,” said Kim Repass, Economic Development Director. “The ability to bring new industry and commercial businesses in the future to this property will bring economic vitality, job creation and investment to the City of Radford. This will be a game changer for our citizens and community.”