Staunton, Va.-based Cadence Inc. has completed the 25,000-square-foot expansion it announced last year. The company promised to create 65 new jobs in the three years from the announcement, and already has created 50.
According to Cadence, its business is growing at a pace that indicates the need for more than 50 additional employees by the end of 2012, making the total number of new jobs approximately 100. Currently, the company has 300 employees between its Virginia and Rhode Island locations. The company also has invested $8 million in equipment and $3 million in facilities toward the $15.9 million Virginia Governor Bob McDonnell announced that Cadence would be investing to expand its operation in Staunton.
Cadence was founded in 1985 under the name Specialty Blades, addressing the needs of industries, original surgical manufacturers, and medical design engineers requiring high-performance, razor-sharp, custom-made cutting blades. The company now also is focused on new medical technologies such as minimally invasive devices.
“It is tremendous that a company that has thrived in Staunton for more than 25 years continues to excel at a rapid pace,” said McDonnell. “With two years left to meet the measures outlined in the performance agreement, Cadence has already hired nearly all of the committed positions and made a significant investment. The company’s path of success continues, and both Virginia and Staunton are proud of their long-term partnership with Cadence.”