Caroline White, Communications Manager
New Jersey Community Capital
New Brunswick, NJ (May 3, 2019) – Independently-owned Axe & Arrow Microbrewery (“Axe & Arrow”), a small microbrewery that received funding through the THRIVE South Jersey initiative of New Jersey Community Capital (NJCC), will celebrate its grand opening on May 17th in downtown Glassboro. Co-owned by Krystle Lockman and Gregory Fletcher, Axe & Arrow joins a rapidly-growing South Jersey craft brewery industry that is being forged by innovative entrepreneurs seeking to contribute to local economies, job creation, and downtown revitalization.
NJCC provided a $100,000 loan to support the purchase of brewing equipment and a $60,000 working capital loan to assist with start-up costs for the state-of-the-art facility and taproom that is located in 2,500 square feet of commercial space on High Street in the center of Rowan University’s Glassboro campus.
“We are excited to offer residents a vibrant gathering space that parallels the vibrant transformation of the downtown Glassboro district,” says Krystle Lockman, co-owner of Axe & Arrow Microbrewery. “With support from NJCC and the THRIVE South Jersey initiative, we were able to purchase the entire brewing system and fit out and furnish the taproom space. We’re excited to be amongst the many small businesses who are contributing to the communal growth of Downtown Glassboro.”
Situated in the Glassboro Town Square and adjacent to Rowan University, the microbrewery will serve a large population of local residents and students, offering tours of the brewery operation and space for special events. Josh Lockman, Ms. Lockman’s husband, and Fletcher honed their craft through several years of home brewing experience with a variety of brewing systems and are active members of multiple local and national brewing organizations. They named the business after the surnames of ‘Lockman’ and ‘Fletcher’, names that originate from the Scottish Highlands. Both surnames are for tradesmen, one a wielder of an axe and the other in the production of arrows.
“Small businesses such as Axe & Arrow play a critical role in fostering innovation and stimulating economic revitalization across growing communities like Glassboro,” says Laura Wallick, Program Manager for THRIVE South Jersey. “We are thrilled to support entrepreneurs like Krystle, Josh, and Gregory who are committed to their craft and business model and contributing to the economic vitality of the community.”
THRIVE South Jersey works to expand local and regional capacity to generate economic growth in the targeted region of Southern New Jersey that includes Cumberland, Gloucester, Salem, and western Atlantic counties. Through a combination of strategic funding and capacity building, THRIVE South Jersey seeks to support organizations fostering community revitalization activities that generate jobs and sustain low-income families in the four county region.
The grand opening of Axe & Arrow will take place at 105 West High Street in Glassboro, New Jersey from 2-5pm on May 17th.
About New Jersey Community Capital
New Jersey Community Capital is a nonprofit Community development financial institution (CDFI) that creates thriving communities through strategic investments and knowledge. NJCC supports the preservation and development of affordable housing and sustainable community development ventures that increase jobs, improve education, and strengthen neighborhoods. For more information, visit: http://www.newjerseycommunitycapital.org.