WINTER HAVEN, Fla., Feb. 18, 2011 – Officials with the United States Department of Agriculture toured the operations of William G. Roe & Sons today to see how a government-backed loan helped the fourth-generation, family-owned citrus business retain nearly 300 jobs, increase its employee count by about 50 full-time equivalents and invest approximately $3 million in equipment.
“The loan guaranteed by USDA enabled us to consolidate and reduce our annual debt service in a meaningful manner,” said Charlie Soule, chairman of William G. Roe & Sons. “As a result, we used the savings to maintain our workforce and invest in our production capabilities, better positioning us to compete in the marketplace and meet the demand for high quality citrus products.”
The loan guarantee is a part of USDA’s Business and Industry Guaranteed Loan program, which is funded through the American Recovery and Reinvestment Act of 2009.
“The American Recovery and Reinvestment Act funds that were used to guarantee this project are an investment in Winter Haven and Polk County,” said Judith Canales, administrator for rural business and cooperative programs. “The jobs created by this family-owned processing and packing facility are a great example of how USDA Rural Development business programs support job growth and retention for rural businesses and communities.”
Joining Canales for the tour were Richard Machek, USDA director for rural development in Florida, and Joe Mueller, USDA program director for rural business cooperative service in Florida.
The goals of the American Recovery and Reinvestment Act include retaining and creating jobs as well as updating the nation’s infrastructure.
Full-time equivalent is a method for expressing the number of employees based on 2,080 working hours per year instead of the number of individuals employed.
About William G. Roe & Sons
Founded in 1927, William G. Roe & Sons markets specialty citrus fruits and blueberries worldwide, which it harvests and processes locally in Florida. The Winter Haven, Fla., company launched its Noble Juice subsidiary in 1995 with the introduction of tangerine juice. In 2004 Noble introduced its first organic juice. And in 2008, Noble became the first juice to be packaged in a bottles made from all-natural, renewable resources. http://www.noblejuice.com/