Virginia Casting Industries will invest $9.1 million to establish a ductile iron components manufacturing operation in Radford, a move that will create 300 new jobs. The company will occupy the former Intermet New River Foundry facility. Virginia Casting Industries is a new company owned by the majority owners of Cadillac Casting, an industry leader in ductile iron castings based in Michigan. Virginia Casting Industries will rehire the management and employee team that ran Intermet New River Foundry.

The Virginia Economic Development Partnership worked with Radford to secure the project for Virginia. Governor McDonnell approved a $600,000 grant from the Governor’s Opportunity Fund to assist Radford with the project. The Virginia Department of Business Assistance will provide training assistance through the Virginia Jobs Investment Program.