The Coca-Cola Company said Tuesday, it will spend $2 billion on a major expansion in Florida’s citrus industry.
Coca-Cola will partner with Cutrale Citrus Juices and Peace River Citrus Products to plant 25,000 acres of new orange trees, in Polk, DeSoto and Hendry counties in central Florida.
According to company officials, the expansion will add more than 4,100 jobs in Florida over a 25-year-period.
A study conducted by the Florida Department of Citrus, estimates the total economic impact of Coca-Cola’s investment to be more than $10 billion over the next 25 years, or about $422 million each year,
Since purchasing Minute Maid in 1960, Coca-Cola has played an active role in Florida’s citrus industry. Currently, the Company operates 26 facilities in Florida, employing 6,100 people. In partnership with Cutrale Citrus Juices, Coca-Cola purchases nearly a third of all Florida oranges grown by more than 400 local growers.
Over the past five years, Coca-Cola has invested more than $400 million in its operation throughout the state.
