Friday, December 13, 2013

Metal fabricator building $2.1M facility in Kensington

By Natalie Kostelni Staff Reporter-Philadelphia Business Journal
A metal fabricator is constructing a new manufacturing facility along American Street in the East Kensington neighborhood of Philadelphia.
Veyko Inc. is constructing a $2.1 million, 11,550-square-foot building on what is now a vacant lot that sits in a federally-designated Empowerment Zone., which gives businesses that move into these zones certain tax incentives. The company is receiving $250,000 in an Empowerment Zone grant and $933,000 in financing from the Philadelphia Industrial Development Corp.

The company is creating 15 new jobs at its new facility and will retain 12 employees. Veyko will relocate from 216 Fairmount Ave. in Philadelphia.

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