NJCC Secures $15 Million Financing to Fuel ResinTech's Growth in Camden

New Jersey Community Capital (NJCC) has recently concluded a significant financial deal worth $15 million through the New Markets Tax Credit (NMTC) program. This funding aims to bolster the expansion of ResinTech, a renowned manufacturer of ion exchange resins utilized in water and wastewater filtration. The transaction marks a vital step in NJCC's ongoing efforts to invigorate local economies and create new job opportunities in underserved communities like Camden.

Located in Camden, NJ, ResinTech is set to embark on an ambitious project that entails the construction of a 34,500-square-foot addition to its existing manufacturing and warehouse facility. The total budget for this expansion project is approximately $18.6 million. Construction is scheduled to kick off in October 2026, with expectations to wrap up by October 2027.

The implications of this financing are substantial. The expansion is projected to safeguard 259 existing jobs and generate an additional 100 permanent full-time positions, all while supporting around 113 construction jobs during the building phase. This initiative is seen as a testament to the power of strategic investment in rejuvenating communities that have historically encountered challenges in attracting financial support.

However, ResinTech's impact on the Camden community goes beyond job creation. The company positions itself as a fair-chance employer, offering local residents with criminal records the opportunity for stable employment. Additionally, the company has committed to a Community Benefits Agreement with the City of Camden, reflecting its dedication to contributing positively to the local environment. Moreover, ResinTech operates a work-study program in partnership with Mastery High School of Camden, helping high school students prepare for future job prospects.

This recent investment marks NJCC's second financial partnership with ResinTech. In 2019, NJCC had previously invested $7 million through NMTC to assist in facilitating ResinTech's relocation from West Berlin to Camden, where it developed a state-of-the-art 170,000-square-foot manufacturing facility that opened in 2020. The company's commitment to domestic manufacturing is evident, as it is recognized as the first U.S. facility to produce ion exchange resins in over three decades, showcasing a pledge to bolster local production.

The financing arrangement also includes support from JPMorgan Chase, which not only served as the tax credit investor but also contributed an additional $3 million in NMTC allocation, amplifying the total allocation for this growth project to a robust $18 million.

Jeff Gottlieb, CEO of ResinTech, expressed his enthusiasm regarding this development, stating, "With NJCC's investment, ResinTech will expand manufacturing in Camden, create more than 100 local jobs, and increase production of critical water treatment solutions, including PFAS removal," emphasizing the significance of this expansion not just for the company, but for the community at large.

Bernel Hall, President and CEO of NJCC, echoed this sentiment, remarking, "A company that hires fairly and puts down roots in Camden is the kind of partner whose impact lasts. We are glad to support its next stage of growth," reinforcing NJCC's commitment to sustainable economic development through strategic partnerships.

In summary, this financing initiative not only exemplifies NJCC's mission to foster economic growth in areas that need it most, but also highlights ResinTech's role as a committed community player, aimed at creating jobs and improving the local economy in Camden. With this investment, both organizations are paving the way for a brighter future for the Camden community, showcasing what targeted investment can achieve in historically distressed areas.