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PC International Airport breaking ground - 11/1/07
- Thread starter Kurt
- Start date
SHELLY
SoWal Insider
...and I'd just as soon hit the powerball for $300m, buy out Emerald Grande, reduce it to dust and put a Goofy Golf in its place--but that's not gonna happen either.
.
Miss Kitty
Meow
Panama City ? Bay County International Airport Being Built on 4,000 Acres to be Donated by
The St. Joe Company (NYSE: JOE)
Florida Governor Charlie Crist Calls Project a National Model for Balancing
Economic Transformation and Environmental Preservation
Florida Governor Charlie Crist hailed the new airport as ?a national model for economic transformation and environmental preservation.? In a prepared statement, Crist said, ?The State of Florida stands as a proud partner of this project for the new jobs it will create and the environmental jewels it will protect.?
?Though we celebrate today, tomorrow we will redouble our efforts to maximize the potential of this project for the people of Northwest Florida,? said Airport Authority Chairman Joe Tannehill. ?We will work together to attract better air service and high-quality jobs to our region, and we will continue to work to make this airport as green as it possibly can be. I am very proud of the way our community pulled together to create a shared vision of better air service, stronger economic development and permanent environmental protection for West Bay.?
?We have planned this property to allow this airport to serve this region now and for the next fifty years and beyond,? said Tannehill. ?At the same time, we have worked with the environmental community, the state of Florida, Bay County and St. Joe to create an unprecedented environmental preservation area that protects West Bay for our children and grandchildren.?
?As the place-maker for the West Bay Sector, JOE?s role will be a supplier of entitled land,? said Peter S. Rummell, chairman and CEO of JOE. ?With this groundbreaking ceremony, we are open for business and seeking relationships with a broad range of strategic partners and customers.?
?Encompassing more than 100 square miles with the new international airport at the center, the West Bay Sector represents a wide range of opportunities for national and international intermodal, industrial, office, retail and residential developers,? said Rummell.
?It will offer unique opportunities to locate business operations near a new state-of-the-art international airport designed for 24/7 operations with protected approaches,? said Rummell. ?With a link to Panama City?s deepwater port, we believe this airport has significant unique competitive advantages and JOE is positioned to work with dynamic third-party developers and end users to be operational when the new airport opens.?
The West Bay Sector also includes a 40,000-acre West Bay Preservation Area, a conservation area to permanently protect West Bay, including 33 miles of shoreline and an additional 44 miles of creeks and tributaries. JOE and The National Audubon Society have signed a Memorandum of Understanding to create The Audubon Center at West Bay being designed as the gateway to the West Bay Preservation Area.
?JOE and Audubon are also seeking to join with progressive strategic partners to explore the feasibility of creating a world-class environmental educational venue,? said Rummell. ?This nature center would offer a unique opportunity for environmental organizations, corporations and citizens to build a consensus about how we can live, work and play in a greener world.?
?In addition, JOE is participating in regional efforts to bring new airline service to Northwest Florida as these white-sand beaches emerge as a new national destination,? said Rummell. ?In turn, new airline service will make Northwest Florida, and its beautiful beaches, more accessible to markets worldwide.?
Initial development of the airport is planned for 1,200 acres of the 4,000-acre site to be donated by JOE. The initial phase of the new airport will have an 8,400-foot runway permitted to be extended to 12,000 feet, a 5,000-foot crosswind runway and a phase one terminal building of approximately 105,000 square feet with eight gates. The site has significant room for expansion that could include a 1,400-acre industrial complex with ramp access and a second 8,400 parallel runway.
Within the West Bay Sector?s first phase, JOE has entitlements for approximately 4.4 million square feet of industrial, commercial and retail space, 5,842 residential units, 490 hotel rooms and two marinas. There is ample land within the West Bay Sector for additional commercial and residential entitlements.
About JOE
The St. Joe Company (NYSE:JOE), a publicly held company based in Jacksonville, is one of Florida's largest real estate development companies. We are primarily engaged in real estate development and sales, with significant interests in timber. Our mission is to create places that inspire people and make JOE's Florida an even better place to live, work and play. We're no ordinary JOE.
More information about JOE can be found at our web site at www.joe.com.
Forward-Looking Statements
Statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about our beliefs, plans, goals, expectations and intentions. Forward-looking statements involve risk and uncertainty, and there can be no assurance that the results described in such statements will be realized. Such statements are based on our current expectations and we undertake no obligation to publicly update or reissue any forward-looking statements. Risk factors that may cause the actual results to differ are described in this press release and in various documents we have filed with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2006 and the Quarterly Reports on Form 10-Q.
? 2007, The St. Joe Company, "St. Joe," "JOE,"
and the "Taking Flight" design are service marks of The St. Joe Company.
Beachbummette
SoWal Insider
Was Shelly there?! 
Miss Kitty
Meow
SHELLY
SoWal Insider
Was Shelly there?!
Yeah...no band, no balloons and no snacks!!! Pete Rummell asked me to pretend to be a member of the Press and ask questions. Charlie & I split a bag of Krystal Chiks I bought. I got bit by a raccoon. It was not the fun time I had been promised in my e-mail invitation.
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Bob
SoWal Insider
You must expect coon bites in the middle 'o nowhere.
Babyblue
Beach Fanatic
I had the lunch provided by St. Joe. The Governor was in DC fighting the water wars. You must not have gone.
SHELLY
SoWal Insider
I thought the Gov was on a swing through Florida pimping his property tax amendment.
What was on the lunch menu? (Did they have balloons and a Mariachi Band?)
blush: I fibbed about going to the groundbreaking....I had a pressing previous engagement, hosing out my gutters. That's when I got bit by the raccoon.) .
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