Coke announces $2 billion investment in Florida citrus land

That’s a lot of oranges.

The Coca-Cola company on Tuesday announced it will invest $2 billion in Sunshine State citrus land over the next 25 years.

The move will account for 25,000 acres of orange trees and bring about 4,000 jobs to the state, according to a Coke news release.

coke poster“Citrus is synonymous with Florida, but the industry has faced many challenges in recent years, particularly the growing threat of citrus greening,” Florida Agriculture Commissioner Adam Putnam said in the release.

“With Coca-Cola’s generous investment towards 25,000 acres of new orange groves in Central Florida, the citrus industry and our state’s entire economy will benefit.”

Tuesday’s late morning announcement was the second big news of the day for the state’s business community, following an earlier announcement that the Hertz rental car company is moving its corporate headquarters to Lee County.

That move is expected to bring 700 jobs to the state.

Before Tuesday’s announcement, Coke had about 6,000 employees in Florida at 26 sites, according to the news release. The company owns the Minute Maid orange juice brand.


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