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12/12/2013

Governor Corbett Partners with Philadelphia Metal Manufacturer to Expand and Create 15 Jobs

News for Immediate Release

Dec. 12, 2013

Governor Corbett Partners with Philadelphia Metal Manufacturer to Expand and Create 15 Jobs

Harrisburg – Governor Tom Corbett today announced that architectural metal manufacturer Veyko, Inc. will construct a new facility that will create 15 new jobs and retain 12 others. The company’s project was made possible by a low-interest loan approved by the Pennsylvania Industrial Development Authority (PIDA).  PIDA is an independent authority staffed and regulated through the Department of Community and Economic Development.

“By partnering with Veyko on this important project, we are supporting family-sustaining jobs that are so critical to Pennsylvania’s growing economy,” Corbett said. “I welcome Veyko’s investment in our commonwealth and in our greatest asset – our people.”

Veyko, Inc., a manufacturer of ornamental and architectural metal work such as stairways, doors, and guardrails, will construct a 10,000-square-foot facility in Philadelphia one mile away from its current operations on Fairmont Avenue. The company will invest more than $1.86 million in the project that is expected to create 15 new positions and retain 12 existing employees. PIDA will provide a $933,499 15-year, low-interest loan at 2.5 percent to the Philadelphia Industrial Development Corporation on behalf of Veyko, Inc.

In 2013, PIDA has approved $58.7 million in low-interest loans that have resulted in $119.1 million in private investment and supported 10,356 jobs. PIDA provides capital for building acquisition, construction and renovation work, primarily for manufacturers, industrial developers, research and development firms, agricultural processors and employers looking to establish national or regional headquarters in Pennsylvania. 

For more information about Governor Corbett’s commitment to job creation, visit www.pa.gov.

Media contact:

Valerie Caras, Governor’s Office, 717-783-1116

Edward Jordan, DCED, 717-783-1132

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