RADFORD, Va. – A long-dormant industrial site in Radford is getting new life through a multimillion-dollar revitalization project that could bring more than 1,000 jobs to the New River Valley region.
The former Radford Foundry site, which has sat empty since the early 2000s, is undergoing transformation through a $3.5 million state grant. The project aims to convert the 80-acre industrial property into a modern facility capable of attracting major employers to the area.
“It shut its doors in the early 2000s, and it really cost a lot for Radford,” said Kim Repass, Radford Economic Development Director. “We just lost a lot economically from the closing of the foundry.”
The foundry was once among Radford’s largest employers, alongside Volvo and the Arsenal. Its closure left a significant gap in the local economy that city officials are now working to fill.
The redevelopment project faces some unique challenges. As a brownfield site, the property requires environmental remediation before it can be repurposed.
“The foundry is a brownfield. It does have some contamination,” Repass explained. “Is it terrible? No. Is it great? No, but we are in that process of remediating this property.” The city has already removed contaminated soil as required by the Department of Environmental Quality, using funds from the state grant.
Current development efforts include removing a 250,000-square-foot concrete pad, which Repass describes as “vital to marketing this to future industry for the city.”
The property’s industrial zoning restricts its use to industrial purposes, ruling out mixed-use development that some residents had hoped to see. However, city officials view this as an opportunity to attract substantial employment back to the area.
“We would like to see one industry come in and take over the whole piece of property,” Repass said. “We’d like to see lots of jobs created here. And again a high electric and water user that would bring that investment back to the city.”
The project represents a significant opportunity for economic growth in the New River Valley, with the potential to create more than 1,000 jobs once development is complete.