The nation’s largest producer of cane sugar is set to go out of business in a $1.7 billion deal to sell its land to the state of Florida for Everglades restoration.

Florida Gov. Charlie Crist and U.S. Sugar Corp. representatives announced Tuesday the state was working on a deal to buy U.S. Sugar’s nearly 300 square miles in the Everglades south of Lake Okeechobee (oh-kee-CHO-bee).

Negotiations are still ongoing, but officials hope to sign an agreement by September. Once the deal is in place, U.S. Sugar would be allowed to farm the land for six more years before shuttering its business.