NJCC Closes $10 Million NMTC Financing for Lassonde Facility in Seabrook

NJCC's New Markets Tax Credit investment will help retain more than 200 jobs, create 75 new permanent full-time positions, and support about 150 construction jobs in Cumberland County.

SEABROOK, N.J., Oct. 9, 2026 /PRNewswire/ -- New Jersey Community Capital (NJCC), New Jersey's largest Community Development Financial Institution (CDFI), announced the closing of a $10 million New Markets Tax Credit (NMTC) transaction with Lassonde Beverages U.S. (Lassonde). The financing will support the purchase and installation of equipment at Lassonde's new 220,000-square-foot beverage manufacturing facility at 1045 West Parsonage Road in Seabrook, Cumberland County.

The new facility, which will replace the older plant on the property, is part of a $195 million investment in the modernization of Lassonde's Seabrook operations. Once complete, the project will increase production capacity, bring bottling operations in-house, and add wastewater treatment and alternative energy systems, as well as warehouse space for onsite storage. Construction is expected to wrap up by the end of 2026, with the facility fully operational in the first quarter of 2027.

"New Markets Tax Credits exist to bring private investment into communities that need it, and this project shows what that looks like: a modern manufacturing facility, more than 200 jobs retained in Cumberland County, and meaningful new opportunities for workers and their families," said Bernel Hall, President and CEO of NJCC. "As a community lender, we put capital to work where it strengthens local employers and the families who depend on them. A company that has called Seabrook home since 1983 is investing in its future here, and we are proud to support it."

Located in a severely distressed rural community, the project brings a major commitment to jobs and economic activity in Cumberland County. It is expected to keep more than 200 existing jobs in place, create 75 new permanent full-time jobs, and support about 150 construction jobs. Roughly 80% of the existing and new positions are expected to be union jobs. Lassonde has also agreed to a Community Benefits Agreement aimed at supporting local hiring.

"Seabrook has been an important part of Lassonde's story for more than 40 years. We are proud to invest in a modern facility that supports local jobs, creates new opportunities for growth, and reinforces our long-term commitment to the region. We appreciate the support of NJCC and our financing partners in helping make this investment possible," said Amanda Burns, President, North American Beverage Division at Lassonde.

Wells Fargo served as the tax credit investor for the transaction, and Cinnaire New Markets Corporation provided an additional $10 million in NMTC allocation, bringing the total to $20 million.

About New Jersey Community Capital

New Jersey Community Capital is a nonprofit community development financial institution dedicated to advancing opportunity through strategic investments and knowledge-based programs. It finances and supports individuals, businesses, educational organizations, and communities; preserves and develops affordable housing and community facilities; and promotes sustainable economic development that creates quality jobs, improves education, and strengthens neighborhoods. Founded in 1987, NJCC is a leading force in community development, driving economic stability and wealth generation in underserved communities.

SOURCE New Jersey Community Capital