Cooper’s Steel Fabricators is one of the country’s top structural steel fabrication companies. Based in Shelbyville, Tenn., it is a third-generation family-owned business that operates in 18 states and 56 cities. It employs more than 560 people, primarily in Tennessee, and with additional facilities in Alabama and Virginia. It is also a major philanthropic supporter in Shelbyville, with a particular focus on enhancing educational opportunities for local youth.

In 2024, Cooper’s Steel closed on New Markets Tax Credit financing to build a new manufacturing facility in Shelbyville, a rural community that has seen the loss of industry over the last 40 years, driving rising poverty, outmigration and health and education challenges. It helped the company add 122 permanent jobs, as well as 43 temporary construction jobs.

Later, the company sought an additional $26 million in NMTC financing as working capital to support the purchase of raw steel, one the most expensive pieces of its operation. This second NMTC transaction reinforces Cooper’s role as an economic anchor in Shelbyville, fostering long-term opportunities for the local workforce and supporting related industries in the supply chain.

Broadstreet is supporting the second Cooper’s Steel transaction with nearly $7.3 million in NMTC allocation* from the Local Initiatives Support Corporation (LISC). Additional allocations are provided by River Gorge Capital and MuniStrategies. Wells Fargo is the investor.

The working capital investment will help the company reduce its steel costs and free up capital to support more quality jobs with benefits, as well as community engagement efforts. For example, from this working capital, the company will invest $1 million to support Bedford County schools.

Without the affordable financing generated by NMTCs, Cooper’s Steel would not be able to meet a number of key business and community priorities. Notably, that includes providing entry-level, low-income workers with opportunities to earn above-average wages, while training for future advancements in their careers.

*LISC allocation is the redeployment of QLICI proceeds that were repaid when the former QALICB was acquired.