Attached files
| file | filename |
|---|---|
| EX-10.1 - EX-10.1 - ST JOE Co | b83631exv10w1.htm |
| 8-K - FORM 8-K - ST JOE Co | b83631e8vk.htm |
Exhibit 99.1
FOR IMMEDIATE RELEASE
THE ST. JOE COMPANY EXECUTES MASTER AIRPORT ACCESS AGREEMENT
AT NORTHWEST FLORIDA BEACHES INTERNATIONAL AIRPORT
AT NORTHWEST FLORIDA BEACHES INTERNATIONAL AIRPORT
Agreement Provides Competitive Advantage for
St. Joe’s VentureCrossings Enterprise Centre
St. Joe’s VentureCrossings Enterprise Centre
WaterSound, FL — November 29, 2010 — The St. Joe Company (“St. Joe”) (NYSE: JOE) announced today
that it has executed a Master Airport Access Agreement (the “Agreement”) with the Panama City-Bay
County Airport and Industrial District (the “Airport District”) regarding through-the-fence access
at the new Northwest Florida Beaches International Airport.
As previously announced, St. Joe donated 4,000 acres within the West Bay Sector Plan for the
airport’s construction. The Agreement announced today sets forth the process for implementing the
through-the-fence rights originally established in the Land Donation Agreement. St. Joe worked
closely with the Airport District on both agreements, which also reflect input from the Federal
Aviation Administration.
Through-the-fence access will allow companies within VentureCrossings Enterprise Centre, St. Joe’s
new commercial development adjacent to the airport, direct access to airport taxiways and runways.
The Agreement identifies three initial through-the-fence access points within VentureCrossings and
provides for flexibility as to the number and location of additional access points.
Under the Agreement, companies engaged in a wide range of industrial and aviation related
operations may utilize the through-the-fence rights. St. Joe is moving forward with the planning
and permitting process for construction of improvements necessary to meet the operational needs of
end users.
“The execution of the Master Airport Access Agreement is a significant milestone for St. Joe and
further advances our commercial development plans around the new airport.” said Britt Greene,
President and CEO of St. Joe. “The agreement provides a clear roadmap for through-the-fence
operations at our VentureCrossings development. With taxiway and runway access, virtually unlimited
greenfield expansion capability adjacent to an international airport, and the ease of contracting
with a single private entity, we are confident that VentureCrossings will be an ideal location for
businesses across a wide range of industries.”
More information regarding the Master Airport Access Agreement will be available in a Form 8-K to
be filed today with the U.S. Securities and Exchange Commission.
About St. Joe
The St. Joe Company, a publicly held company currently based in WaterSound, is one of Florida’s
largest real estate development companies and Northwest Florida’s largest private landowner. St.
Joe is primarily engaged in real estate development and sales, with significant interests in
timber. More information about the Company can be found on its website 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, 2009, and our Quarterly Reports on Form 10-Q.
© 2010, The St. Joe Company. “St. Joe”, “VentureCrossings” and the “Taking Flight” design are
service marks of The St. Joe Company.
St. Joe Investor Contact:
David Childers
904.301.4302
dchilders@joe.com
David Childers
904.301.4302
dchilders@joe.com
St. Joe Media Contact:
James McCusker — ICR, LLC.
203.682.8245
jmccusker@icrinc.com
James McCusker — ICR, LLC.
203.682.8245
jmccusker@icrinc.com