A Midwestern refractory products company is bringing back to life part of Gadsden’s old steel mill property.
Magneco/Metrel will reportedly invest more than $5 million into the refurbishing of about 100,000 square feet of industrial space at Gadsden’s Industrial Park.
The project will apparently create some 30 new jobs in Gadsden at its initiation, with the jobs averaging around $25 an hour. Magneco/Metrel was founded back in 1981, and it specializes in refractory products for aluminum, brick, ceramic, glass, iron and steel.
Gadsden Mayor Craig Ford called the announcement a “big win” for the city.
“This company will not only create 30 new good-paying jobs, but is planning to also use local suppliers, too. We are excited to see their company succeed and grow along with others as we move Gadsden forward together,” Ford said. Ford also credited David Hooks, the director of the Gadsden-Etowah Industrial Development Authority, with moving the project forward.
David Hooks, director of the Gadsden-Etowah IDA (left), along with Eric Boring and Joey Moore of Magneco/Metrel.