United Sheet Metal Company*

Pompano Beach, FL

United Sheet Metal Company (USMC) has been in the sheet metal business for over 80 years and its current management has over 50 years of experience in the sheet metal industry. By 2023, the demand for their products and services far exceeded their ability to meet such demand. As a result, USMC decided to increase its manufacturing operations and installation services that would not only meet their demand but also would allow them to expand into other areas of Florida.

With rising interest rates, USMC could not afford to use traditional debt to fund its expansion and sought a New Markets Tax Credit (NMTC) investment to leverage against more traditional sources.

Our investment in USMC will create 110 new FTE permanent jobs and retain 169 FTE permanent jobs. 74% of the new jobs will be union and all be accessible. 90% of these roles will offer wages above the MIT Living Wage. The project will also provide 100% of its employees with the opportunity to participate in benefits including health insurance (the company pays for 100% of healthcare premiums), dental insurance, short-term and long-term disability, paid holidays, and sick days. Union workers have pensions and 100% of non-union workers have 401(k) plans. USMC and the union will offer apprenticeship and junior apprenticeship training and employees are trained for shop, field, and other sheet metal skills. All employees will have opportunities for advancement.

MBS-UI is working with USMC and the Housing Authority of Fort Lauderdale to create a partnership between HAFL’s “Step-Up” Construction Apprenticeship program and USMC’s careers to create a direct connection between very low-income workers and the new jobs at USMC.

This institution is an equal opportunity provider.

Quick Facts 

Total Investment: $36,696,700

Allocation Amount: $6,000,000

Sponsor: United Sheet Metal Company

Allocatees: Petros, Consortium, Truist, MBS Urban Initiatives CDE

NMTC Equity Investor: Truist

Direct Lender and Leverage Lender: Triple A Land Development LLC

Projected Permanent Jobs: 110 new FTEs; 169 retained FTEs

Community Partners (tentative): Housing Authority of Fort Lauderdale