Florida's governor announced today that his state would buy out US Sugar, the country's largest sugar processor, for $1.7 billion. The deal, once finalized, will have the firm shut down in six years and turn over 187,000 acres of land to the state, restoring natural water flow back to Lake Okeechobee.
Governor Charlie Crist says the deal is:
As monumental as the creation of our nation's first national park, Yellowstone.
We wouldn't go that far, but it is quite a move. But will the cool place names in South Florida disappear like the 1,700 jobs at US Sugar? We're not ready to say goodbye to Sugarland Park, Sugarton and Sugar Junction!
Related Stories:
· US Sugar [Official Site]
· Florida to Buy Sugar Maker in Bid to Restore Everglades [NYT]
· Florida Offer for US Sugar Came as a Surprise [Reuters]
· Florida, US Sugar Announce Deal [AP, via Google]
· Google Maps/Where Is... coverage [Jaunted]]]>