Venango Steel Inc., a specialty steel fabricator that was established in 1986, will more than double its work force by creating 25 new jobs within three years at its Venango County location.
The company will construct an 8,000 square foot expansion to its Franklin, Pa., facility, purchase new machinery and equipment, and retain 21 existing employees. The total project is $2,181,363.
The Oil Region Alliance of Business, Industry and Tourism supported Venango Steel’s efforts to secure a $590,000 deal from DCED that includes up to $500,000 in loans through the Enterprise Zone Competitive Program, a $40,000 Opportunity Grant, and $50,000 in Job Creation Tax Credits. The company is also eligible to apply for an Enterprise Zone Tax Credit.
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