Phillips Tank & Structure Receives Enterprise Zone Loan
(05/28/2015) - The EZCB closed on its 52nd Enterprise Zone loan with Phillips Tank & Structure of Braddock. The $100,000 loan is being used in conjunction with financing from First National Bank and company equity to purchase vehicles and equipment.
Phillips moved to 13A Talbot Avenue in Braddock in 2014. President Lenny Phillips met realtor Mark Harvey Smith who works with the Enterprise Zone, Braddock Borough and local groups to market properties in the Enterprise Zone. Mr. Smith and Enterprise Zone representatives introduced Mr. Phillips to Gray Welding who had excess space at their facility. Subsequently, Mr. Phillips leased space from Gray.
Mr. Phillips said "We were fortunate that Mark Smith and the Enterprise Zone introduced us to Gray Welding. As a result we found beautiful office space and we've developed a great working relationship with Gray and other companies in the area. Further, the opportunity to access low interest financing through the Enterprise Zone helps us expand and hire more employees".
Phillips Tank & Structure is an engineering and design company in the storage tank industry. The company designs and constructs various types of tanks around the country, mainly for the oil and gas industries. In the past 6 months, Phillips has created local jobs in construction management, engineering design, and administration. Recent hires include 6 engineers/designers, 1 senior manager and 1 administrative position.
In the next 6 months, Phillips anticipates hiring at least 2 more engineers/designers, 1-2 more construction managers, and one more administrative position. Outside of Braddock, PA field crews have grown from 5 employees to 75 over the last year and a half which provides even greater opportunity to grow the existing support staff in Braddock, PA.
Located in Braddock for almost 2 years, Mr. Phillips has aspirations of maintaining long term operations in Braddock. They have expanded into additional offices at the existing location. Currently, 5 of the 12 employees live near Braddock, including Lenny Phillips, the President and Owner of the company. Mr. Phillips strongly believes this growing company is the right fit for the community of Braddock which is undergoing an exciting revitalization.
According to EZCB President William Pfoff, "We're very impressed with what Phillips Tank and Structure has done so far. Mr. Phillips is a great entrepreneur and we see a great future for him and his business. This company illustrates that manufacturing in our area is on the rise".