Peninsular Sugar Refining Company
The beet sugar industry in Michigan began growing rapidly in the late nineteenth century. The declining lumber industry had cleared thousands of acres of land suitable for the cultivation of sugar beets. In 1897 farmers were encouraged further to grow this new crop when the state legislature offered a bounty to producers of one cent for each pound of sugar made from Michigan beets. Soon numerous beet sugar factories appeared. Many of then were in the Saginaw Valley area where both climate and soil were satisfactory for growing sugar beets. One of the companies started in this era was the Peninsular Sugar Refining Company at Caro. Organized in 1898, it was first called the Caro Sugar Company. Today it is the oldest beet sugar factory still operating in Michigan.