A Midwestern refractory products company is reanimating part of Gadsden’s old steel mill property.

Magneco/Metrel will invest more than $5 million into refurbishing about 100,000 square feet of industrial space at Gadsden Industrial Park.

The project will create 30 new jobs in Gadsden at its initiation, with the jobs averaging about $25 an hour.

The industrial park, on the site of the Gulf States/Republic Steel Mill, has been defunct since the mill closed in 2000.

Magneco/Metrel was founded in 1981 and 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, director of the Gadsden-Etowah Industrial Development Authority, with moving the project forward. Hooks acknowledged the work of Alabama Power and Spire Gas.

“This was truly a collaborative effort on behalf of the City of Gadsden, the IDA and the owner of the property,” Hooks said. “Without the combined efforts of all involved this project would have never materialized.”