The Real Deal New York

City scores another food manufacturer for the Bronx

September 10, 2012 03:00PM

Krinos products

Another food business is moving to the Bronx, as the city continues to try to steer the industry to the borough in an effort to spark its flailing economy. Mediterranean food importer Krinos Foods, previously based out of Long Island City, has struck a deal to develop a $20 million, 100,000-square-foot facility on city-owned land in the Tremont section of the Bronx.

Krinos purchased the site for $3.5 million and will bring its 85 employees to the Bronx. The company has not received any government subsidies for its move.

Many food companies have abandoned the city in search of cheaper real estate and easier transport from locales elsewhere in the country and even internationally, the Journal said. But recently the city has stepped up its efforts to keep these businesses in the five boroughs. It offered highly publicized subsidies to move Fresh Direct to the Bronx from Long Island City, and has offered $172.5 million in incentives to keep the Hunts Point Produce Market at its current location in the borough. [WSJ]Adam Fusfeld

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