Jersey City EDA Offers $34.6M Incentive Package To Lure Online Grocer Peapod

Online grocery seller Peapod would locate in Jersey City under a $34.6 million incentive approved by the state Economic Development Authority.

A subsidiary of Ahold USA Inc. is considering leasing 344,000 square feet in an 878,000-square-foot distribution center to be owned by Prologis. The facility would serve Peapod, another Ahold USA subsidiary.

"We're bringing a lot of jobs to New Jersey" if the project is completed, said agency CEO Caren S. Franzini.

Ahold USA, a subsidiary of a Dutch retail giant, would receive $3.46 million in Urban Transit Hub tax credits annually for 10 years if it adds 380 jobs to the 120 the company currently has in the state. The credits would only be given if the project is completed and the company maintains the employment level.

To read the rest of the story, please go to: NJ BIZ