NJCC Provides $10 Million NMTC Financing for Lassonde's Seabrook Facility
New Jersey Community Capital (ticker: N/A) has closed a $10 million New Markets Tax Credit financing deal with Lassonde Beverages U.S. to support the construction of a new beverage manufacturing facility in Seabrook, Cumberland County. The project is part of a larger $195 million investment aimed at modernizing operations and increasing production capacity. The funding will help retain over 200 jobs, create 75 permanent full-time positions, and support approximately 150 construction roles. Lassonde plans to bring bottling in-house while adding wastewater treatment systems and alternative energy solutions by the end of 2026, with operations expected to begin early in 2027. Wells Fargo served as tax credit investor for the transaction, supported by an additional $10 million from Cinnaire New Markets Corporation. The project is intended to stimulate economic activity in a distressed rural area and includes commitments to local hiring through a Community Benefits Agreement.
Topics: job creation manufacturing expansion New Markets Tax Credit