Richmond Company Investment to Retain Jobs

The Economic Development Corp. of Wayne County says Richmond Casting Co. plans to invest more than $545,000 into new equipment at its Richmond facility. The organization says while the investment will not create any jobs, it will help to retain 28 positions.

Richmond Casting plans to purchase a new molding machine as a replacement for aging equipment. The company will receive a $10,000 Economic Development Income Tax grant from the EDC of Wayne County as a result of the investment.

"For 37 years, Richmond Casting has provided quality jobs and shown tremendous commitment to our community," said Richmond Mayor Dave Snow. "It should always be our goal to help local businesses like Richmond Casting retain their workforce and have the ability to expand and grow."

The EDIT grant must still be approved by the Wayne County Commissioners. The company received a $200,000 EDIT grant in 2009 when the company was purchased by then-President Gill McBride.