$50M expansion at East Penn Manufacturing to add 400 jobs

East Penn Manufacturing of Lyon Station, Berks County, is expanding.

The battery manufacturer will build a 458,000-square-foot manufacturing plant at a cost of $50 million to accommodate the company’s growth.

Aerial view of East Penn Manufacturing in Lyon Station, Berks County.

The expansion is expected to add 400 new jobs to the 6,000 the company already employs.

According to Gov. Tom Corbett, the company received a funding offer from the Department of Community and Economic Development, including a $500,000 Pennsylvania First Program grant, $800,000 in job creation tax credits, $180,000 in guaranteed free training and $5 million in a 10-year low-interest loan at 1.5 percent from the Machinery and Equipment Loan Fund.

In addition, the Pennsylvania Industrial Development Authority will provide a $6 million, 15-year low-interest loan at 1.5 percent to the Greater Berks Development Fund on behalf of East Penn.

“Cooperation from the commonwealth demonstrates a strong commitment by the state government toward making Pennsylvania an economic leader,” Dan Langdon, president of East Penn, said in a statement. “The expansion of this facility will help us continue to create jobs in Pennsylvania. This support also has a positive impact on the community, our suppliers and the many customers we serve.”

View Article Here

 

Bryan Cole

Sr. Associate

Bcole@naikeystone.com

NAI Keystone Commercial & Industrial, LLC

3970 Perkiomen Ave, Suite 200
Reading, PA 19606

www.Bryan-Cole.com or www.WyomissingOfficeSpace.com

Direct +1 610 370 8502

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One thought on “$50M expansion at East Penn Manufacturing to add 400 jobs

  1. Pingback: May Commercial Real Estate News & Blog Updates from Bryan Cole | Office & Industrial Real Estate Blog - NAI Keystone

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