The Bloomberg administration is defending its unusually large incentive package to keep Internet grocer FreshDirect in New York City.
The president of the city's Economic Development Corporation said the $127.8 million package of cash and tax breaks will help retain nearly 2,000 jobs and allow FreshDirect to expand at its new headquarters in the Bronx.
Seth Pinsky spoke as officials voted to approve the deal on Tuesday. FreshDirect is now based in Queens.
Pinsky said FreshDirect "will make a private investment of tens of millions of dollars," reports The New York Times.
The deal has come under criticism from some government watchdog and community groups for its overly generous terms.
New Jersey officials were seeking to woo the company to their side of the Hudson River.