Cooper’s Steel Fabricators, Inc. (“Cooper Steel”) is a family-run business that specializes in steel fabrication and erection. The company received NMTC financing in 2024 to expand its 280,000 square food Shelbyville facility. As one of the top five structural-steel fabricators in the country, Cooper Steel is a major generator of local jobs and is integral to the region’s economic framework. Cooper Steel’s expansion will directly respond to both the country’s growing demand for fabricated steel and to Bedford County’s rising need for local employment opportunities. By increasing its operational capacity, Cooper Steel can remain competitive within the industry while generating local jobs within Shelbyville, which is currently facing an outmigration crisis due to a lack of local employment opportunities.

Despite the demonstrable need for Cooper Steel’s expansion, the project was nearly jeopardized by the nation’s rising interest rates, which quickly inflated construction costs beyond the initial budget. Without the NMTC investment, the project would have been greatly reduced in scope and the positive impacts that residents and workers would receive through the company’s creation of quality, accessible local jobs would have been greatly minimized or delayed. However, thanks to the $47.7 million allocation, Cooper Steel will be able to finance the $66.4 million project in its entirety.

Once fully operational in May 2025, Cooper Steel will have created or retained 333 permanent jobs. All of the positions are considered quality jobs with starting salaries that are five percent higher than the local MIT Living Wage. These positions also offer a full suite of benefits that include healthcare, retirement plans, and paid leave. Additionally, 302 (91 percent) of these positions are accessible to low-income residents with minimal education or experience. Instead of requiring a college degree, a vast majority of new employees only need on-the-job training and are paired with senior-level employees for further mentorship and coaching. The new expansion facilitates this on-boarding process by including worker-oriented spaces, such as an office designated for employee training. By creating and retaining 333 permanent, full-time jobs and inducing an estimated $18.5 million of additional earnings throughout the region, Cooper Steel has used NMTC financing to become an essential catalyst for further growth within rural Shelbyville.