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Preheat oven to 325F.
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Coat a 10-inch tube pan with baking spray. Whisk together flour, baking powder, and salt to remove lumps.
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Place granulated sugar, butter, and cream cheese in the bowl of a standmixer; beat at high speed until light and fluffy. Add eggs, 1 at a time. Beat in oil, rind, and vanilla.
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Add flour mixture and milk alternately to the butter mixture. Spoon batter into pan and smooth out the top with a rubber spatula.
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Bake about 1 hour or until a wooden pick inserted in center comes out mostly clean. Cool in pan on a wire rack 10 minutes. Invert cake. Cool completely before glazing.
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To make the glaze, place juice in a saucepan over medium-high heat; bring to a boil. Cook until reduced to 3 tablespoons (about 4 minutes). Cool slightly. Whisk in powdered sugar until the mixture is smooth. Drizzle over cake.