Cadence to invest $15.9 million in Staunton operations, adding 65 new jobs

Staunton Mayor Lacy King, Cadence Inc. CEO Peter Harris and Virginia Gov. Bob McDonnell at Monday's announcement that Cadence will add 65 jobs in a $15.9 million expansion.

Cadence Inc., a Staunton-based manufacturer of cutting and piercing instruments for industrial, medical and life-science applications, will invest $15.9 million to expand its operation in the City of Staunton and create 65 new jobs within three years. Virginia successfully competed against Costa Rica for the project.

Gov. Bob McDonnell visited Staunton to announce the news – on the heels of more good news from the Virginia Employment Commission that the state’s unemployment rate had dipped in April to 6.1 percent, its lowest rate in three years.

“We are pleased that Cadence decided to continue their long relationship with Virginia and the City of Staunton in choosing to expand their facility, rather than move to a new location,” McDonnell said. “The path of success continues with this significant investment, which will allow for a larger facility and increased manufacturing production to accommodate the company’s rapid growth. The addition of 65 new jobs is also tremendous news for the region.”

Cadence Inc. began in 1985 as Specialty Blades to address the needs of industries, original surgical manufacturers, and medical design engineers who required high performance, razor sharp custom-made cutting blades. Cadence has emerged as a premier metals manufacturing company focused on new medical technologies, such as minimally invasive devices. Headquartered in the Green Hills Technology Center in Staunton, Cadence now has more than 200 shareholders. Proprietary “sharps” and tube fabrication technologies enable Cadence to supply the most critical components and sub-assemblies for medical devices, scientific, and industrial applications.

“This major expansion represents another significant step on our journey of solid growth,” said Peter Harris, Cadence Inc. CEO. “Partnering with our state and local officials to make this happen enables our ongoing commitment to precision and repeatability in everything we do for our customers, shareholders, and employees.”

The Virginia Economic Development Partnership worked with the City of Staunton to secure the project for Virginia. Governor McDonnell approved a $150,000 grant from the Governor’s Opportunity Fund to assist Staunton with the project. The company is eligible to receive benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development. Through its Virginia Jobs Investment Program, the Virginia Department of Business Assistance (VDBA) will provide funding and services to support the company’s recruitment and training activities.

“Cadence has been an excellent corporate citizen for the last 25 years and we look forward to the company’s sustained growth in the years ahead,” said Staunton Mayor Lacy King. “The City is fortunate to have this quality manufacturing company committed to increased investment and job creation and we are pleased that we could partner with Cadence and the Commonwealth to secure this project,” King added.


UVA Basketball Fans!

uva basketball team of destiny
Team of Destiny: Inside Virginia Basketball’s Run to the 2019 National Championship, by Jerry Ratcliffe and Chris Graham, is available for $25. The book, with additional reporting by Zach Pereles, Scott Ratcliffe, and Scott German, will take you from the aftermath of the stunning first-round loss to UMBC in 2018 through to the thrilling overtime win over Texas Tech to win the 2019 national title, the first in school history.

Dick Vitale on Team of Destiny: “This is a hoops story you will LOVE! Jerry and Chris capture the sensational and dramatic championship journey by Tony Bennett and his tenacious Cavalier team. UVA was Awesome Baby and so is this book!”

Ralph Sampson on Team of Destiny: “Jerry and Chris have lived and seen it all, even before my time. I highly recommend this book to every basketball fan across the globe. This story translates to all who know defeat and how to overcome it!”

Feedback from buyers: “Got the Book in the Mail Saturday, and could not put it down! Great read and great photography as well! Love all of the books I’ve received, but hands down, this is my favorite!” – Russell

Buy here.

augusta free press news
augusta free press news
augusta free press news