RADFORD, Va. – The City of Radford hopes a recent purchase can help stimulate economic development after the city bought industrial land they believe will attract large businesses to the area.
According to Radford City leaders, they want to bring in a big business to the western portion of the city, and one incentive they say is the railroad that businesses could easily get supplies.
“I think it’s good,” Josh Boggs, a small business owner on West Main Street in Radford said.
Boggs feels it’s a no brainer to new development in the western portion of the city.
“I think if we can do something to bring people in town and expand, do something different,” Boggs said.
While Boggs has a collectibles shop full of toy cars, he’s hoping to see more cars on West Main Street, now that the city has purchased the Foundry.
“Help local businesses grow towards the interstate, I think it’s a good thing,” Boggs said.
Radford’s Mayor David Horton said the city is buying the Radford Foundry for $250,000.
“This is big news for the city of Radford, the New River Valley, and Southwest Virginia,” Horton said.
The entire site is 80 acres, and the goal is to develop 30 acres of land.
The Foundry was founded in 1880 as “The Radford Iron and Coal Company” and employed approximately 1,500 people at its peak in the late 1970′s.
The site closed in 2013.
“While it was a heavy industrial site for many years we think it can be reimagined into modern 21st century jobs and opportunity,” Horton said.
City leaders say there are several ideas on what could be developed, one is more green space.
The purpose for purchasing the land, is to create jobs.
“We want to work with the Commonwealth to bring in jobs, to bring in business, to bring in new opportunities for Radford, the site is bigger than that, it provides an opportunity for passive recreation,” Horton said.