#United States #New Jersey #NMTC #Seabrook #Lassonde Beverages

New Jersey Community Capital Completes $10 Million NMTC Financing for Lassonde Facility

On October 9, 2026, New Jersey Community Capital (NJCC), the state's largest Community Development Financial Institution (CDFI), announced a pivotal moment for economic growth in Cumberland County. NJCC successfully closed a $10 million New Markets Tax Credit (NMTC) financing transaction with Lassonde Beverages U.S. This funding will facilitate the expansion and modernization of Lassonde's new beverage manufacturing facility located at 1045 West Parsonage Road, Seabrook.

This new production plant is an integral part of a more extensive $195 million investment aimed at modernizing Lassonde's operations in Seabrook. The facility, spanning 220,000 square feet, will replace the current, older plant and feature significant upgrades including the implementation of advanced equipment, in-house bottling operations, and improved wastewater treatment and energy systems. Additionally, the upgrades will provide on-site warehouse space, ensuring an efficient supply chain for Lassonde’s beverage products. The construction is projected to be completed by the end of 2026, with operations expected to begin in the first quarter of 2027.

NJCC's investment aims to make a meaningful impact on local employment. It is anticipated it will retain over 200 existing jobs while also creating 75 new permanent full-time positions. Moreover, the project is expected to support around 150 construction jobs during the building phase. Importantly, approximately 80% of the roles associated with the new facility and retained positions are expected to be union jobs, enhancing job security in the community.

Words from the Leaders
Bernel Hall, President and CEO of NJCC, commented on the significance of the NMTC investment, stating, "New Markets Tax Credits exist to bring private investment into communities that need it, and this project embodies what that can achieve—a modern manufacturing facility that retains over 200 jobs in Cumberland County and offers substantial new opportunities for workers and their families.” He further added, “As a community lender, we aim to put capital to work in ways that fortify local employers and the families that depend on them. Lassonde has been a part of Seabrook since 1983, and we are proud to support its commitment to the region's economic future."

Amanda Burns, President of the North American Beverage Division at Lassonde, shared the company's perspective on this significant investment. She remarked, "Seabrook has been a significant location for Lassonde for over 40 years. We are proud to invest in a modern facility that not only supports local jobs but also fosters new growth opportunities. We appreciate the collaboration with NJCC and our financing partners that makes this investment viable.”

The financial structure of the project includes Wells Fargo acting as the tax credit investor and Cinnaire New Markets Corporation contributing an additional $10 million in NMTC allocation. In total, this enhances the transaction value to $20 million, further emphasizing the critical role such funding plays in revitalizing and empowering local communities.

The Role of NJCC
Founded in 1987, New Jersey Community Capital has a long-standing commitment to advancing economic opportunity through strategic investment and community-focused programs. As a nonprofit CDFI, NJCC actively finances individuals, businesses, educational organizations, and communities, while also focusing on preserving affordable housing, enhancing community facilities, and driving sustainable development to create quality job opportunities and strengthen neighborhoods.

The Lassonde project represents not only a pipeline for additional job opportunities but also a substantial investment in sustainable practices and community welfare. As construction unfolds, this initiative is likely to inspire similar projects and investments, setting a benchmark for community development success across New Jersey and beyond.