Florida’s recent purchase of property from a sugar-producing company could help save thousands of Florida agriculture jobs.
As with the rest of the nation, Florida’s economy is facing trouble and the state treasury has been limited. However, the state announced it will modify its purchase of U.S. Sugar Co.’s property in the Everglades, a move that will benefit environmental and economic aspects of the deal. According to an article by the News-Press, these modifications could help save the company’s 1,700 employees from losing their jobs.
Changes to the original plan should reduce the acreage to be bought from the company from 187,000 to 182,500, leaving U.S. Sugar with no crop land. However, the company would keep its high-tech sugar mill, citrus-processing plant and other industrial assets. This would cut the cost of the purchase from $1.75 billion to $1.34 billion plus interest. U.S. Sugar Co. had originally planned to phase out its sugar business within the next six years, but may now continue production on certain parts of the property.