Coca-Cola plans $2 billion investment in Florida citrus industry

05/07/2013 11:05:00 AM
Vicky Boyd

Coca-Cola logoThe Coca-Cola Co. plans to invest $2 billion in Florida's citrus industry during the next 20 years.

The Atlanta-based beverage company plans to team with Cutrale Citrus Juices and Peace River Citrus Products, according to a news release.

The investment will enable growers to plant 25,000 acres of orange trees.

It also will create 4,100 jobs.

As part of the collaboration, Coca-Cola will buy all of the fruit produced by the trees during the next 20 years.

The investment's economic impact is expected to be more than $10 billion over the next 25 years, or about $422 million per year, according to the release.

"A thriving Florida citrus industry is critical to helping us build our Simply and Minute Maid juice brands,” Steve Cahillane, Coca-Cola Americas president, said in the release.

He made the announcement with Florida agriculture commissioner Adam Putnam in Auburndale May 7.

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