Coca-Cola Co. announced that it will invest $2 billion in Florida to support the planting of 25,000 acres of new orange groves in Florida, reviving now idle groves in Polk, DeSoto and Hendry Counties with the planting of 5 million new trees.
“Citrus is synonymous with Florida, but the industry has faced many challenges in recent years, particularly the growing threat of citrus greening,” said Florida Commissioner of Agriculture Adam Putnam, who joined Coca-Cola in announcing the deal on Tuesday. “With Coca-Cola’s generous investment toward 25,000 acres of new orange groves in Central Florida, the citrus industry and our state’s entire economy will benefit.”
Congressman Tom Rooney also welcomed the announcement, taking pride in his district which includes DeSoto County and southern Polk.
“Coke recognizes what I know well – Florida oranges are the gold standard, and no one is better equipped to deliver than the citrus growers in my district,” said Rooney.
Coca-Cola, based in Atlanta, teamed with Cutrale Citrus Juices and Peace River Citrus Products to support the planting of these acres. Through this collaboration, Coca-Cola will procure all of the fruit produced by these trees over the next 20 years. The investment is expected to create an estimated 4,100 new jobs and add more than $422 million per year to Florida’s economy.
” A strong, vibrant citrus industry is critical to our local economy, and hopefully this announcement – combined with our efforts to combat citrus greening and disease – will help reverse the trend of declining citrus acreage in Florida,” said Rooney.
Coca-Cola already runs 26 facilities in Florida, employing 6,100 people through its subsidiary Minute Maid. Over the past five years, the company has invested more than $400 million in its Florida operations, including a multi-million dollar project to expand the Auburndale facility which produces Simply juices and employs more than 500.
“The Coca-Cola Company is proud to be part of this investment in Florida and its citrus industry. A thriving Florida citrus industry is critical to helping us build our Simply and Minute Maid juice brands,” said Steve Cahillane, President, Coca-Cola Americas. “Through viable partnerships and meaningful investment with Cutrale and Peace River, we together will foster sustainable, responsible growth in Florida. This is good news for the state’s citrus industry, our business and the communities we serve.”
