NJCC Secures $10 Million Tax Credit for Lassonde Plant Modernization

The financing, facilitated by New Jersey Community Capital, supports the installation of advanced equipment across the 220,000-square-foot facility on West Parsonage Road. This capital infusion is part of a broader strategy to transition the site from an aging plant into a modern production center, featuring in-house bottling, alternative energy systems, and upgraded wastewater treatment. Construction is slated to conclude by late 2026, with full operations expected to launch in early 2027.

Beyond the infrastructure upgrades, the deal serves as a cornerstone for local employment stability. The project aims to retain over 200 existing roles while creating 75 permanent full-time positions and roughly 150 construction jobs. According to NJCC, approximately 80% of these roles are unionized, bolstered by a Community Benefits Agreement focused on local hiring. Wells Fargo acted as the tax credit investor, while Cinnaire New Markets Corporation provided an additional $10 million in allocation, bringing the total project support to $20 million.