Increase in Manufacturing Jobs Coming to Virginia

Medical device instrument manufacturer Cadence Incorporated plans to invest nearly $16 million to expand operations in Staunton and add 65 new jobs over the next three years, according to Virginia Governor Bob McDonnell. Virginia was able to land the expansion project after competing with Costa Rica. Governor McDonnell says the decision will have a lasting economic impact on the local community.

"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," he states. "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, which is headquartered in Staunton's Green Hills Technology Center, is a manufacturer that has reportedly begun to focus more on new technologies, such as medical devices that are not too invasive, according to the news source.

"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," adds Staunton Mayor Lacy King.

In addition to Virginia, new healthcare jobs are also set to be created in Indianapolis, Indiana, with new biotechnology firm BioCritica establishing its headquarters and creating up to 70 new positions in the capital city by 2015.

According to a release, the new headquarters will focus on developing Xigris, which is Eli Lilly's medicine designed to treat severe sepsis.

"Each year more than 200,000 people die from severe sepsis in the U.S.," says David Broecker, CEO of BioCritica. "We look forward to building a company dedicated to saving lives."

The new company was reportedly established as a result of agreements between Eli Lilly and private investors Care Capital and NovaQuest Capital, according to the release.