Welcome to Panama City Beach, Florida

Area Highlights •27 miles of world famous white sandy beaches along the Gulf of Mexico •7 million tourists •16,600+ lodging units including 4,400+ hotel units and 7,800+ condos •Direct tourist expenditures of $547 million •$1.5 billion economic impact from tourism; $163 million in accommodation sales •$413 million in goods and services; Over 14,000 local jobs •612,602 households within a 100 mile radius of Panama City Beach •16,600+ additional units currently under constructions within 15 miles •14 miles from Panama City and 41 miles from Destin, Florida •Ranked 4th Most Popular Vacation Rental Destination (Hotels.com, 2004)

Panama City Beach Panama City Beach is a nine-mile linear city, the City of Panama City Beach, and 18 miles of unincorporated Bay County. It is part of a four county (Bay, Gulf, Okaloosa, and Walton) coastal region along the Gulf of Mexico. Panama City Beach has over 7 million annual visitors, 4 millions of whom stay overnight. It is one of the most popular vacation destinations in Florida. Over 90 percent of the area’s visitors drive to the area – 2nd only to Disney/Orlando as the primarily destination of automobile visitors to Florida

Panama City Beach is within a day’s drive of over 61 million travelers (20% of the US population). Visitors from such markets as Atlanta, Orlando, Birmingham, Memphis, and metropolitan Houston can reach Panama City Beach in less than 2 hours. There are also large numbers of international travelers, especially from Canada, Germany, the UK and Scandinavia.

Panama City Beach, Florida has long been known as "The World's Most Beautiful Beaches", but over the past few years and in the next few years to come, the small beach town has undergone a complete transformation.

New and Exciting Panama City Beach, Florida has arrived. Great new restaurants, new attractions, and new resorts await your return. In the rebuilding, the Panama City Beach Area has developed into several distinct areas, each offering something unique and different to visitors and residents alike.

As the redevelopment of Panama City Beach, Florida has continued, a majority of Entertainment has condensed around a central area near the Eastermost end of Front Beach Road. The Entertainment District hold the highest concentration of family attractions, entertainment and dining choices. Within a compact 5 mile radius called The Entertainment District lies 126 holes of mini golf (including 18 indoor Blacklight holes), Batting Cages, Skee Ball, Bungee Jumps and Arch Swings, 45 holes of Championship Golf, a dozen Go-cart race tracks (including 3 multi-level tracks), 3 arcades, A 36,000 sq ft Bowling alley with complete pool hall and Roller Skating Rink, 11 Movie Screens (including a 1 screen outdoor theater), a Human Sized Grand Maze, a Haunted House, a Zoo, 2 Super Clubs, over a dozen restaurants ranging from Casual Fine Dining to Fast Food, and opening Spring of 2006, the World Famous Ripley's Believe It or Not 'Odditorium'.

East Beach - East Beach offers a more pristine and quiet environment that will help you get back to the nature of Panama City Beach, Florida. From the beautiful St. Andrew's State Park and Shell Island, to the Golfing at Bay Point, to the marinas of Grand Lagoon, East Beach offers a little bit quieter side of Panama City Beach.

Key Market Drivers for NW Florida 1. We are a "drive to" location unlike Central and South Florida which are "fly to" locations. This is very important because when money is tight people still vacation and they drive instead of fly. Case in point (9-11). When the terrorist attack came in 2001 Central and South Florida literally folded up shop, vacation rentals fell almost 50%, airline traffic was down over 50% to those areas of Florida. We only dropped 14% in vacation traffic. Coincidentally 15% of the vacationers coming to our area fly. 2. The International Airport that broke ground November 1st, 2007, will be the first major airport built in the US in over 30 years. The last one was Fort Meyers, Florida and that area was "smaller" geographically and "much smaller" in terms of residents in the area than us. This will be a major job producer and will turn our Tourism industry inside-out as only 2.4% of our current vacationers are international compared to over 35% for Fort Meyers. This will literally make us a "world class" destination. We are already getting press in all major European countries as well as throughout Asia as the "next" destination point for the US due to the airport. 3. The states largest landowner is the St. Joe Company, and throughout Florida with the housing downturn they have scaled back, except for our area. They donated the "land" for the new international airport and have created their own Development Corridor called West Bay which will be their single largest Florida development to date. They are not "investing" heavily in our area by chance. The latest demographics shows our tri-county area (Bay, Okaloosa and, Walton) to be the epicenter of new Florida growth and development over the next 5-10 years. 4. ALL of our North/South arterial highways throughout the tri-county area are currently being widened to accommodate 4 lanes of traffic. This is done all the way to the Northern Florida Border. Our State Senators are now lobbying Alabama and Georgia to our North to stimulate them to widen their connecting highways to 4 lanes also in order to create an enterprise corridor all the way to Birmingham, Alabama and Atlanta, Georgia. This will then allow for only a 3 hour commute instead of the current 4.5 hours it now takes. 5. Jobs are the key, with an estimated new job count at the respective facilities the next 5 years will see a phenomenal growth in jobs and relocations into our area: Destin Commons Grand Boulevard Pier Park BRAC New Airport West Bay Est. New Jobs

2,500 2,500 8,000 12,000 7,000 7,000 = 39,000

The Assets and Initiatives of Panama City Beach

By Marta Rose The Greater Panama City Beaches Chamber of Commerce March 2007

Oftentimes the assets of a community are invisible and cannot be measured in currency. A clear, clean sky void of smog. Expansive, white beaches and warm, golden sunshine. The tendency of the locals to smile, say hi and look you in the eye. Our southern hospitality is a precious gem that we should continue to polish here in Panama City Beach. A local business recently asked a group of its potential customers, Why do you like Panama City Beach? The top three answers included safety of the area, no personal income tax, and the southern hospitality found here. Regarding the latter, we know that good training is key to maintaining a quality workforce, and this is the premise of the Chamber’s Hospitality Training Committee, at work developing a 16-hour curriculum in conjunction with Gulf Coast Community College. This program will provide cultural and behavioral training to hospitality workers at the beach, from hostesses and servers to hotel and resort workers. Although many beach establishments currently have employeetraining programs in place, this will be a regional program, aimed at enhancing the level of service, island-wide, to both vacationers and locals alike. The curriculum will be in place by May and classes are scheduled to begin in August. The impact of this program should be enormous, making Panama City Beach proud of its southern hospitality accolade. Another initiative you won’t see generating money back into the economy but generating plenty of return visitors is the City’s Front Beach Road CRA (Community Redevelopment Agency) Plan. An estimated $500,000,000 will be spent over the next 10 years enhancing and widening Front Beach Road and feeder routes including Beckrich, Churchwell and Alf Coleman. This plan will also develop a dedicated lane on Front Beach Road for a “people mover” transportation system with a welcome center / public parking garage at both ends of the 8-mile stretch, the addition of sidewalks, tram stops, heavy landscaping and burial of utilities. The tram is scheduled for completion in 2008, with the street widening and enhancement scheduled for a spring 2009 completion. Hundreds of new ways for vacationers and locals to pump dollars into the local economy will soon be here. Over one million square feet of retail is coming to Pier Park, the forecasted new “Downtown of Panama City Beach.” A large portion of the family entertainment complex will be completed this spring, with a complete build out scheduled for May 2008. A collection of new resorts containing restaurants, retail and recreation are also in development. Some retail has already opened at Grand Panama Resort, and the Seahaven Village (think “Village of Baytowne Wharf,” only larger) is on its way. Once completed, Laketown Wharf will contain14 shops, 11 restaurants, and an outdoor dinner theater with a water and light show.

Key New Economy Sectors There are several key “new economy” sectors in Bay County that offer large growth potential and overall economic impact. Life Sciences – including hospitals, health and wellness clinics, treatment centers, medical manufacturing firms and pharmaceutical companies, bring more businesses and vendors to the area. Information Technology is a growing sector, and the Chamber encourages and supports new business development of small consulting firms, software and IT companies. “If you can get the small businesses to start here, they will grow here,” states Susan Story, President & CEO of Gulf Power. Aviation and aerospace is strong and growing in Bay County. Established military bases like Eglin, Tyndall and Naval Support Activity have the resources to attract commercial aviation and help launch smaller research companies focused on homeland security defense. Although neither a new nor growing sector, manufacturing is another solid industry in Bay County. Large manufacturers like Arizona Chemical, Eastern Ship Building and Smurfit-Stone Packaging, all located in Panama City, provide many high-wage jobs opportunities. Eco-tourism, also known as eco-travel or green travel, is a growing trend on the Emerald Coast. This new group of environmentally responsible travelers will come in droves over the next decade, bringing their travel dollars to this area. Hiking, biking, birding (bird-watching), canoeing, snorkeling, kayaking and numerous other nature-related activities are all offered in Panama City Beach. Nature venues include Gayle’s Trails, Pines and Ponds, St. Andrew’s State Park and the West Bay Sector, where the National Audubon Society is planning a 41,000+ acre wildlife preserve and nature center. Can They Co-Vacation? A community-wide effort is underway to market Panama City Beach to families in a higher income bracket, a change from past targeting efforts. There has been talk recently of increasing the local 3% bed tax to 4%, with the additional one percent generating approximately $1,800,000 in additional annual marketing revenues. These new advertising dollars could be used for expanding marketing reach into new domestic and international markets, as well as increasing the frequency of the message, and are crucial in positioning Panama City Beach’s new upscale “brand” with the travel market. The question is, can spring breakers and the upscale family vacationer / potential condo purchaser relax on the same beach, travel on the same streets, eat in the same restaurants and visit the same retail stores? Real Estate “The city’s revenue continues to grow and our second-home owners continue to grow, as does our permanent population,” reports Panama City Beach’s Mayor Gayle Oberst. “The economy on Panama City Beach is strong and healthy.” The Building Department in Panama City Beach, she says, is not reporting any slowdowns. There have been $55 million of construction permits pulled since October 1st – $42 million of that just in the last couple of months. As of early 2007 Panama City Beach has experienced an unprecedented number of new condominium, retail and residential developments. With supply outweighing demand at the moment, a “price correction” has been going on for 23 months. But Donna Fries, a realtor for 21 years, broker of Panhandle Beach Realty in Panama City Beach, and host of the weekly Real Estate Radio Live Talk Show, predicts we are in a short-lived downturn on the cycle. “By next year we’ll be coming out of this correction,” she says. “Buyers are starting to find out that Panama City Beach is still on the low end of cost per square foot.” Fries reports she’s already seeing investors returning to the condo scene…the ones who are savvy to the new airport and Pier Park. “We have a very fresh, new, vibrant product and we are just weeks away from a new means of accessing that product, states Rick Dye, President of Regions Bank. The proposed new Panama CityBay County International Airport, estimated for completion by 2010, will increase visitor traffic amounting to an estimated additional 500,000 visitors per year. The projected total number of

condominium, motels, hotels and single-family units available for rent may still not be enough to house all of these visitors – not a bad predicament to be in. “This is currently a consumer-driven market,” says Dye. “It is the natural forces of the free enterprise system at work. When all the dust settles, Panama City Beach will be one of the finest Resort Communities on the Gulf Coast.”

Bay County, Florida Geography & Climate Square Miles

2007 Population Distribution by City 1,033

Square Miles of Land

764

BAY COUNTY

Square Miles of Water

270

Callaway

Miles of Coastline Elevation Above Sea Level

2004

2005

2006

2007

158,437

161,721

165,515

167,631

14,808

14,901

14,789

14,713

27

Cedar Grove

5,882

6,156

6,325

5,723

13 Feet

Lynn Haven

14,776

15,398

16,436

16,217

1,107

1,122

1,164

1,320

37,207

37,238

37,540

37,640

Average Air Temperature

67 ˚ F

Mexico Beach

Average Summer Temperature

89 ˚ F

Panama City

Average Winter Temperature

39 ˚ F

Panama City Beach

8,322

8,972

10,005

11,651

Parker

4,648

4,709

4,688

4,683

Springfield

8,925

9,039

9,017

8,956

62,762

64,186

65,551

66,728

Average Yearly Rainfall

67 inches

Average Days of Sunshine

320

Unincorporated

ACCRA Cost of Living 2007 Composite Index

95.7

Grocery Items

101.8

2007 Population Distribution

Housing

79.6

By Age

Utilities

88.9

0-14 years

19%

White

83%

112.9

15-34 years

25%

Black

11%

96.6

35-54 years

29%

Indian

1%

Misc. Goods & Services

103.2

55-74 years

21%

Asian

2%

Taxable Sales (In Billions)

Bed Tax Collections (In Millions)

75+

6%

Other

3%

Transportation Health Care

By Race

2002

$2.311

2002

$5.129

2003

$2.369

2003

$5.240

2004

$2.527

2004

$5.165

Grade K-8

4,344

2005

$2.969

2005

$5.246

Grade 9-12

14,619

2006

$2.569

2006

$5.427

High School Graduate

34,756

2007

$2.808

2007

$6.185

Some College, No Degree

29,048

Associates Degree

10,165

Bachelor’s Degree

15,727

Construction Permit Values (In Millions) Commercial

Residential

TOTAL

2004

$18.9

$192.8

$211.7

2005

$128.3

$184.9

$313.2

2006

$162.7

$71.4

$234.1

2007

$113.8

$40.5

$154.3

Construction Permit Counts

2007 Population Distribution by Education

Graduate Degree

5,087

2007 Population by HH Income Less than $14,999

10,637

$15,000 - $24,999

9,382

$25,000 - $34,999

9,452

Commercial

Residential

TOTAL

$35,000 - $49,999

12,128

2004

141

1,338

1,479

$50,000 - $74,999

15,218

2005

255

1,144

1,399

$75,000 - $99,999

7,758

2006

138

751

889

$100,000 - $149,999

5,491

2007

84

447

531

$150,999 and Up

2,961

Bay County Economic Development Alliance

Bay County, Florida Employment History

Number of Bay District Schools 2007

Labor Force

Employment

Unemployment

2007

87,417

84,258

3.6%

Middle / Junior High

7

2006

81,971

79,342

3.2%

Senior High

6

2005

82,106

79,101

3.7%

Combination

1

2004

78,426

74,827

4.6%

Adult/Vocational

2

2003

75,787

71,731

5.4%

Other

5

2002

73,801

69,529

5.8%

Charter

2

2001

73,315

68,650

5.1%

Dept. of Juvenille Justice

2

2000

71,868

68,533

4.6%

Secondary Education

5

Pre-K

Education & Health Services

10.8%

Financial Activities

6.9%

Government

18.3%

Information

1.7%

Leisure & Hospitality

14.6%

Manufacturing

4.9%

Natural Resources & Construction

8.8%

Other Services

4.6%

Professional & Business Services

10.8%

Trade, Transportation, & Utilities

18.7%

Per Capita Income History 2004

2003

$30,298

$28,064

$25,113

20

2007 School Population by Grade

2007 Non-Agricultural Jobs by Industry

2005

Elementary

2002

2001

$24,522

$23,756

771

Kindergarden

2,012

First Grade

2,126

Second Grade

2,065

Third Grade

2,028

Fourth Grade

1,961

Fifth Grade

1,982

Sixth Grade

2,043

Seventh Grade

1,940

Eighth Grade

2,162

Ninth Grade

2,170

Tenth Grade

1,872

Eleventh Grade

1,969

Twelth Grade

1,724

Other

980 High School Graduation Rate District

Major Manufacturers

State

Trane

750 employees

2004-05

78%

72%

Smurfit-Stone Container Corp

650 employees

2005-06

77%

71%

Eastern Shipbuilding

601 employees

2006-07

78%

72%

Oceaneering Multifles Inc.

286 employees

Gulf Power Company

250 employees

Major Employers

Bay District Schools Mean Test Scores SAT

Verbal

Math

Bay District Schools

526 / 800

532 / 800

Florida

497 / 800

496 / 800

United States

502 / 800

515 / 800

Tyndall Air Force Base

5,191 employees

Naval Support Activity

3,816 employees

Bay District Schools

3,370 employees

Bay District Schools

21.0 / 36

Bay Medical Center

2,174 employees

Florida

19.9 / 36

Wal Mart

1,240 employees

United States

21.2 / 36

ACT

Bay County Economic Development Alliance

Composite Score

Development is booming on Back Beach Road ‘Turning into a real city’ By Ed Offley News Herald Writer 747-5079 / [email protected]

PANAMA CITY BEACH Back Beach Road is booming. Forget the economic models and housing forecasts that say Florida real estate is in a funk. The 21-mile corridor from the Hathaway Bridge flyover to Lake Powell is churning with workers and construction gear. The sand is flying as developers clear-cut pine growth along the highway — also known as U.S. 98 and Panama City Beach Parkway — to level the building sites, scour out drainage ponds, pour concrete and frame buildings.

“This whole side of the bridge is turning into a real city,” said longtime Beach developer Roddie Bailey, who is developing Ibis Lake, a mixed-use community of 300 condominiums, 53 residential lots and commercial outlets on 32 acres a mile west of State 79. “It’s not a matter of if — but when.” While longtime residents say the growth along the U.S. 98 corridor has been relatively stable over the past two decades, the end of an 18-month slowdown in the housing market and the spring construction season have sparked what clearly appears to be a major surge in building. A survey by The News Herald of ongoing and planned construction projects shows that the parkway, which includes the city and unincorporated Bay County on either end, is transforming from a semi-rural byway to a major residential and commercial corridor, with several major trends apparent. Housing boom

Nearly 5,000 housing units are either under construction or in various stages of planning from Lake Powell to the bridge flyover. They range in size from Quaker Square Development’s 900-unit planned unit development, slated for a 71-acre tract on the north side of the parkway west of Alf Coleman Road, to an 18-lot subdivision off Kelly Street in the west beaches area. Assuming 2½ residents per unit, that translates into more than 12,500 new residents for the region within the next few years. Within that housing sector, developers are moving to serve what they say is a projected influx of families and young professionals attracted to the expanding job market on the

Beach. Four major deluxe apartment communities are either open or under construction along the corridor, with a total of 1,128 apartments available by year’s end. One company that identified renters as a vital component of the Beach housing market is Trammell Crow Residential of Orlando, one of the nation’s largest apartment community developers. The firm is building two separate luxury apartment projects with 360 units apiece 10 miles apart on the corridor. The Alexan Back Beach community, located directly across the parkway from the Hombre Golf Course, is open now, said property manager Deanna Stiers. Tenants enjoy the privacy of a gated community, a swimming pool, fitness center, detached garages and optional boat parking. Monthly rents range from $885 for a one-bedroom unit to $1,215 for a three-bedroom apartment. Contractors recently began site clearing for the second complex, Alexan Laguna Beach, located just east of 14th Street on the north side of the parkway, said company development partner Ed Wood. “Independent market studies indicate the market up there is undersupplied,” Wood said. “All the existing apartments are full and I don’t think there are any new luxury apartments.” The target market, Wood said, is “work-force housing.” That ranges from working professionals to people in the military. The company also has identified support for such housing among the nation’s growing retiree community, he said. Bank boom

The banking industry has taken strong interest in the boom. Florida and out-of-state financial institutions have more than five dozen planned or under-way construction ventures, and all are racing to become part of the new Beach community. Nine new bank branches are under construction along the parkway, joining another dozen that have gone up in recent years.

Troy Campbell, a senior vice president of Coastal Community Bank, which has opened one branch on the parkway already and has applied for rezoning approval for a corporate headquarters near State 79, said most business leaders have been anticipating the boom for years. The proliferation of bank branches, he noted, is a strong signal that a sustained period of growth is under way. “Most banks try to enter a market with a great potential to be strong,” he explained. “They tend to come in when the interest comes in but before the residential market gets that strong.”

Commercial, retail boom Commercial and retail growth also is accompanying the housing surge. In addition to major retailers such as the Lowe’s and Target stores already open in Panama City Beach, a wide cross-section of smaller business offices, specialty stores and retail outlets are planned or under way. These range from a three-story office building that the accounting firm of Carr Riggs Ingram is building just east of Nautilus Street, to several retail malls such as Nautilus Station and one at the Home Depot shopping center. And many of the larger residential communities plan to incorporate specialty retail and commercial sites colocated with the condominium units. For example, the still-unnamed Quaker Square Development project includes plans for more than 240,000 square feet of commercial and retail space in addition to its residential units. A wide variety of individual commercial projects are taking shape along the corridor, ranging from a Mainstay Suites hotel just at the foot of the Hathaway Bridge flyover to small-scale developments such as the $3 Dollar Car Wash, a proposed Tuffy’s auto repair shop and a profusion of real estate offices. The Beach Commerce Park, another St. Joe development, has opened a massive Phase II section that will provide sites for dozens of lightindustrial and commercial warehouses north of Back Beach Road. Several major warehouse projects already are under construction or complete, said company spokesman Jerry Ray. Future growth Government officials and developers agree there is no foreseen end to the current boom. Much of that will occur as a result of long-term plans by the St. Joe Co. to develop not only its massive West Bay Sector properties surrounding the planned new international airport, but also in building out its holdings directly along the Back Beach Road right of way. The Panama City Beach planning department and the St. Joe Co. project the company will develop an additional six major projects totaling 5,300 housing units in the Back Beach corridor over the next decade or so. The largest of these is the planned Breakfast Point tract located north and east of the Home Depot shopping center on Beckrich Road, which anticipates a major residential and mixed-use community of 2,500 homes when complete. Along with the vast quantity of new housing, business and entertainment projects will come quality as well, developers say. “We hope to attract more upscale projects,” said Bailey, president of Ibis Lake. “Here, we are building a high-end subdivision within walking distance of the beach.” Campbell agreed.

“I kind of think Panama City Beach is going to be a bit different than other communities. I’m hoping it doesn’t turn out to be a concrete and brick wall.” In anticipation of that development, the Bay County School Board and Panama City Beach City Council earlier this year agreed to build a new K-8 public school on the property just east of Arnold High School. Plans also are proceeding to extend Beckrich Road north of the parkway onto the Breakfast Point property. In addition, the city is proceeding with plans to “calm” traffic along the parkway with proposed traffic signals near Pier Park and at the Clara Avenue intersection. “Back Beach Road is going to end up the 23rd Street of Panama City Beach,” Bailey said.

A new high-rise greets travelers as they head toward the Back Beach Road corridor, also known as U.S. 98 and Panama City Beach Parkway. The corridor is booming with development, with new banks, apartment complexes and more.

The Panama City-Bay County International Airport DSAP addresses the proposed relocation of the Airport from the existing 700-acre site in Panama City to a 4,000-acre site in the north central portion of Bay County, north of CR 388. The Future Land Use designations sought by this DSAP are an Airport Industrial classification for the 4,000-acre airport site and an Airfield Installation Compatibility Use Special Treatment Zone encompassing a 10,000-foot perimeter around the airport runways The relocation of the Airport will accomplish two primary objectives. The first objective is to provide sufficient space for the expansion of aviation facilities to serve the short and long term needs of the region. The second is to avoid conflicts between the Airport operation and surrounding land uses that have developed over time at the existing Airport in Panama City. The initial Airport development will include the construction of a primary 8,400-feet runway, 5,000-feet crosswind runway, commercial passenger terminal, general aviation terminal, air traffic control tower, and Airport support and service facilities. Development around these active runways will include aviation, general use, and commercial and industrial uses. The long-term development will include future construction of an 8,400-feet third runway, with associated clear zones, taxiways, and air navigational improvements. All development after the initial phase will be non-sequential based on the demand for additional air traffic capacity improvements or lease space.

Crist bullish in Bay County visit // VIDEO By DANIEL CARSON / News Herald Writer 2009-08-31 21:42:35

PANAMA CITY BEACH — Gov. Charlie Crist talked up the new Panama City-Bay County International Airport’s economic potential Monday and touted the likelihood of a low-cost carrier’s arrival as he made his first tour of the West Bay site before visiting Naval Support Activity-Panama City. The governor also squeezed in an appearance at an evening 2010 U.S. Senate campaign fundraiser, as Crist made his first official visit to the area since May, shortly before he announced his Senate candidacy. Airport Authority officials have been actively courting a low-cost airline carrier — Northwest Florida Regional Airport in Okaloosa County and Pensacola Gulf Coast Regional Airport also are pursuing one too — for the new airport ahead of its scheduled May 18, 2010, opening. The airport near West Bay is expected to include about 1,400 acres of industrial space for use by aerospace engineering and other companies, many of them new to the Panama City area. The entire airport site sits on about 4,000 acres but currently is using only 1,338 acres. Crist said he had talked to a lot of airline presidents about the new Bay County airport, and he sounded confident about the prospect of a low-cost carrier coming to Bay County. “I don’t think it’s going to be a very hard sell,” Crist said as he stood outside the Naval Surface Warfare Center’s Littoral Warfare Research Facility. Reps. Jimmy Patronis, R-Panama City, and Marti Coley, R-Marianna, accompanied Crist on his tours. NSA-PC spokesman Steve Applegate said that, to his knowledge, it had been at least a decade since a Florida governor had visited the base. Crist said he wanted to visit as Florida’s CEO to show his appreciation for the military and the contributions service members make to the state. Coley said Crist picked the airport site and the Navy base because of their importance in stimulating an economic resurgence here and across Florida, as the state struggles with record unemployment and a stagnant economy. Crist said the airport was the biggest economic engine he has seen in Florida for jump-starting a local economy. “The airport, the military presence, all that will boost the economic recovery in Bay County and other parts of the state,” Coley said. Bay County Economic Development Alliance executive director Janet Watermeier said Crist’s visit allowed the county to spotlight the new airport — as well as Bay County economic engines Port Panama City and tourism interests in Panama City Beach — as catalysts for regional growth. She said previous national media exposure regarding the new airport has attracted inquiries from major employers about the area. During the airport tour, Crist shook hands with construction workers, who then returned to working on the new airport’s terminal. After a tour of the terminal building, Crist arrived on base shortly after 4 p.m. and greeted a line of sailors standing outside the NSWC research building.

NSA-PC Cmdr. Jessica Pfefferkorn told Crist about the base’s estimated annual economic impact on the area — $654 million in Fiscal Year 2008 — and NSWC technical director Delbert “Ace” Summey gave the governor a brief overview of some of the center’s mine warfare research and counter-IED projects. Crist also received updates on some of the center’s unmanned research projects, including a mine roller system designed to neutralize IEDs and an autonomous robot. NSWC engineer Signe Redfield talked to Crist about the center’s involvement with the STEM program and working with area teachers and students on autonomous robot programs. Before her autonomous robot demonstration for Crist, Redfield said she thought the governor would be interested in STEM and the education aspect of NSWC personnel working with students and teachers. “Certainly my experience in the schools has been wonderful,” Redfield said. Crist also spoke briefly about the statewide economy and its road to recovery, health care reform and reaffirmed his support for Florida State University-Panama City. In April 2009, Summey told The News Herald the NSWC would be hiring 100 new employees in fiscal 2008-2009, with a considerable number of those engineers and scientists coming from the FSU-PC campus. Last year, he said, FSU-PC generated 25 percent of NSWC’s engineering and scientific hires and 20 percent of this year’s, as of April. Asked about FSU-PC’s future Monday, Crist cited the statewide need for a knowledge-based economy and stressed he was committed to keeping the Panama City campus open.

The New PCB International Airport Update

August 2009

Construction Update: 7/23/2009 Posted: 24 Jul 2009 07:03 AM PDT Contract 1: Heavy Civil and Airfield Lighting Approximately 90% of contract is complete with 76% of the contract time used. Completing the underdrain system in the longitudinal ditches (7,000 linear feet remain and work should be complete by the end of August) Installation of top sands into Pond C is ongoing Concrete on main apron should be complete in two weeks Taxi-way edge lights installation is continuing Contract 2: Terminal Building, ATCT and Support Buildings Approximately 40% of the contract is complete with 48% of the contract time used. Terminal: Continuing exterior sheathing at north end of Area A 90% complete with roof sheathing and underlayment at Concourse D & E 90% complete with structural steel at Baggage Handling Preparing for concrete slab pour for south end of Baggage Handling Air Traffic Control Tower: Beginning mechanical/electrical and plumbing work Complete with stairs up through Level 4 Air Maintenance Facility, Air Maintenance Shed: Continuing interior framing Air Cargo Facility: Continuing with the installation of exterior wall panels Rental Car Facility: Continuing with plumbing and electrical rough-in Settling tanks for Car Wash in place Public Safety Building: Completing metal decking and installing stairs Continuing installation of CMU at vehicle bay An average of 155 personnel are on site Monday through Friday. Eighteen workers on site on Saturday. Contract 3: Utility Contract Approximately 48% of contract work is complete with 52% of the contract time used. All interim milestones are being met or exceeded. Main Access Road: 3W2″ Power Distribution Duct Bank is 95% complete Street Light Duct Work is 87% complete 6W4″ Power Distribution Duct Bank is 98% complete Jack and boring on Main Access Road for fire hydrant installation Joyner Road: 24″ Water Main is 98% complete GA Access Road: 12″ water main is 95% complete 30″ water main is 86% complete Lift Station: Lift station is 50% complete Plumbing being installed Fuel Farm: Fuel farm is 15% complete Grounding system was tested and passed this week Booster Station: Booster station is 35% complete Starting to wrap wire next week Contract 4: Landscape/Hardscape Contract Installation of seed has begun on Main Access Road Collecting and transplanting approximately 1,700 Juncus plants to wetlands area in Kelly Branch *The contract information is from a regular update that I get from The New PFN.

PANAMA CITY BAY COUNTY INTERNATIONAL AIRPORT Home / Panama City Beach Economic Development / Panama City International Airport Panama City-Bay County International Airport 3173 Airport Road Panama City, FL 32405 850-7636751 Panama City-Bay County International Airport is located in Panama City, Florida. This airport serves Bay County and the surrounding areas. For more information go to www.pcairport.com or check out some of the information listed below. Carriers DeltaConnection 1-800-282-3424 Northwest 1-800-225-2525 Delta Connection- Comair 1-800 221-1212 Chautauqua Airlines 1-800-221-1212 Freedom Airlines 1-800-221-1212 Panama City-Bay County International Airport Relocation Project The FAA delivered its final Record of Decision to the Airport Authority on September 15, 2006. It clearly stated a recommendation to move the current Panama City/Bay County International Airport to the 4000 acre West Bay site. The relocation of the Panama City - Bay County International Airport (PFN) has created tremendous opportunity for all of Northwest Florida, including the potential for better air service, more competitive air fares, economic development and the permanent protection of tens of thousands of acres surrounding West Bay. The following blog site, the West Bay, Florida Newsletter, is dedicated to providing accurate, up-to-date information about airport relocation and progress being made in the West Bay Sector.www.westbayflorida.blogspot.com The estimated construction time is 28 months, but 36 months is probably a better time frame, allowing for construction delays. With that time frame in place, planes could be landing at the new airport as early as the end of 2009, or at the very latest, early 2010. For more information on the Panama City-Bay County International Airport Relocation Project go to www.pcairport.pbsjis.com or check out some of the information listed below.

Panama City-Bay County International Airport Relocation Project Facts of Interest This project is of major interest across the nation and around the world because it will be the first airport built in the United States in almost 20 years. The A380 is the new jet being manufactured by Airbus. It can carry up to 800 passengers, but its most practical use will be in the cargo industry. The Vice President of Airbus came over from France and met with engineers on our airport project over a year ago and minor changes were made to the design. This will make our airport the only U.S. site that will not have to perform a retrofit to accommodate this new plane. UPS and FEDEX have both ordered 10 A380s each and the Bay County Economic Development Alliance is currently in discussions with both companies about locating a major part of their operations here. This will be the first airport built since 9/11, so Homeland Security is very interested in test out new security measures here. Tech companies from around the world will see this as somewhat of a test lab for new technology and an opportunity to work closely with Homeland Security. We’ve already talked to all the major airlines and they’ve all expressed great interest in our new airport, but the most interest has actually come from Southwest Airlines. We’ve met with them several times and they have said they are definitely coming to the Panhandle, it’s just a question of where. They are watching our project very closely and they say our time frame coincides with theirs. The longer runway will open up our area to the Latin American markets for cargo operations and will attract other businesses and industry to our area.

At 4000 acres, the new airport site will be larger than Atlanta's Hartsfield Airport. Only about 1500

acres will be developed initially, but there will be plenty of room for expansion. The current airport has the shortest commercial runway in the state of Florida, at about 6,300 feet. The new runway will eventually be between 10,000 and 12,000 feet. There is industrial/commercial space already incorporated in the design of the airport and St. Joe will have another adjacent industrial/commercial site as well, so the potential to attract highend, technical industry and research and development is as good as you'll find anywhere in the country. Our quality of life paired with improved transportation and the business opportunities that are available will set the stage for a major economic boom in Bay County.

Panama City Bay County International Airport Relocation Groundbreaking Ceremony Posted By Jason On November 2, 2007 @ 11:40 pm In Panama City Airport Relocation, Pictures, Video | 2 Comments

The official ceremonial groundbreaking occurred Thursday morning at the new Panama City International Airport Site in WestBay, FL. We have been waiting for this day for a long time, and over 1,000 were in attendance. This marks the beginning of a long road of construction, but the end of an even longer road of waiting. There ceremony was around an hour long and I was able to record the whole event.

Construction Update - New Panama City Bay County International Airport | pcbdaily.com

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Construction Update New Panama City Bay County International Airport

[1] Huge progress has been made since construction began at the beginning of the year at the new Panama City Bay County International Airport site north of up Highway 79 north of Highway 388 in Bay County. The entire site consists of 4,000 acres that can be used for the airport and all future expansions with a total 1,300 acres permitted for construction right now. Phase I will include a primary runway of 8,400 feet and a secondary cross-wind runway of 5,000 feet. The primary runway will run almost due north at 340 degrees with the secondary at around 50 degrees. [2] The primary runway preparatory work includes site prep for extensions of up to 2,000 additional feet on the south side and 2,000 additional feet on the north side with a total eventual runway length of 12,400 feet. In addition, the 4,000 acre site will allow for an additional 8,400 feet runway that will run parallel with the primary runway should demand require it in the future. If demand requires the additional runway length on the primary runway, the actual paving process should only take a few months. Currently, clearing and grubbing (the removal of stumps and roots) of the entire 1,300 acres is almost complete with grading already taking place for the runways and road entry way from Highway 388. There is an almost 60 foot elevation difference between the south and north part of the new Panama City Airport property. The grading process will level

Construction Update - New Panama City Bay County International Airport | pcbdaily.com

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the road and runway by scraping up dirt from the north part and dumping, flattening and compacting it on the south part of the property. Huge trucks drive back and forth every day slowly completing this process. The main roadway connecting the airport with Highway 388 is 150 feet wide. Also, the installation of storm water drains and culverts is taking place and will continue throughout construction. Timelines[3] The grading of the runways and road entry ways is on schedule to be complete late summer/early fall with the paving to begin immediately upon completion of grading. Paving should be complete by fall 2009. Vertical - the construction of the terminal, air traffic control facilities, safety facilities, air cargo building, maintenance facilities, rental car facilities and the fuel farm - is set to begin fall 2008 and should be complete by late 2009 or early 2010. Construction of the general aviation area should begin early 2009 which will include the corporate hangars, private hangars and FBO’s. The two current FBO’s at the current airport are planning to move when the new airport is operational. They are [4] Sheltair and [5] Precision AvJet. [6] When the new Panama City Bay County International Airport is complete, it will go through stringent tests to receive its certifications through the FAA. All air traffic control equipment and personal is provided by the FAA (I’m sure at a cost). When the airport is ready, the old airport (PFN) will close one day and the new airport will open the next day. The existing airport is a test bed for TSA, which works closely with the Navy Base located in Panama City Beach. The new airport will be a “clean slate” for surveylance and people and baggage screening testing. Also, the Airport Authorities goal is to obtain [7] LEED’s silver status certification by using all recycled materials including concrete, carpet fibers, etc. All landscaping and vegetation will be native plant species transplanted from the surrounding areas. Current construction schedule includes: z z z z z

Embankment: May 12 - June 17 Storm Sewer and Structures: May 12 - June 23 Lime Rock: June 2 - June 30 Asphalt Road Surfaces: June 23 - June 30 Excavate Wet Pond: May 12 - May 26

Construction Update - New Panama City Bay County International Airport | pcbdaily.com

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BAY COUNTY INTERNATIONAL AIRPORT

PAVING & SITE DEVELOPMENT

BAY COUNTY INTERNATIONAL AIRPORT

PAVING & SITE DEVELOPMENT

BAY COUNTY INTERNATIONAL AIRPORT

PAVING & SITE DEVELOPMENT

Northwest Florida - Panama City International Airport Welcomes Southwest Airlines!

Press Release

Southwest Airlines Announces Service From Northwest Florida's New International Airport, Near Panama City, Florida Southwest Airlines and The St. Joe Company Enter Into Strategic Alliance to Land Jet Service at Region's Newest Airport; Carrier Plans Start-Up to Multiple Destinations in May 2010 DALLAS, Oct. 21 /PRNewswire-FirstCall/ -- Southwest Airlines Co. (NYSE: LUV) today announces its intent to begin jet service from Northwest Florida's new international airport near Panama City, Florida in May 2010. The planned service is made possible through a strategic alliance agreement developed between Southwest and The St. Joe Company (NYSE: JOE), one of Florida's largest landowners and real estate developers. The new airport will introduce daily jet service to the Northwest Florida Gulf Coast, providing Southwest Customers easy access to its stunning white-sand beaches and vibrant communities. For more information on the Northwest Florida Gulf Coast, please visit www.thebeachfla.com. Southwest has not released specific service details, saying only that it will add at least two daily nonstop flights from Northwest Florida to four destinations across its 68 airport network for a total of eight daily nonstop flights when it begins service next year. Northwest Florida will be the first international airport to open in the nation in more than a decade. The new international airport is currently under construction and is scheduled to open in May 2010. Specific details on Southwest's fares and schedule will be available in December 2009. "I am certain our more than 90 million annual Customers will be delighted to learn they are now free to hit Florida's white-sand beaches with Southwest Airlines' great, low-fare service from across the nation's largest airline network, taking Northwest Florida visitors off the roadways and into the airways," said Gary Kelly, Southwest's Chairman of the Board, President, and CEO. "I would like to applaud the ingenuity and hard work that both Southwest and St. Joe leadership poured into this unique agreement." Kelly said. "Southwest's arrival in Northwest Florida is expected to stimulate job growth, economic development, and give travelers more of the options they've been seeking," said Britt Greene, President and CEO of St. Joe. "St. Joe is the largest landowner in Northwest Florida with hundreds of thousands of acres in the service area of the new airport site. Southwest will help position Northwest Florida as one of America's leading beach destinations. At the same time, this region is also home to one of the world's most important defense aerospace economic clusters anchored by U.S. Air Force, Navy, and Army aviation installations." A number of regional organizations are assisting in launching the service. Coastal Vision 3000, the Northwest Florida business group that created the regional destination brand, "The Beach," is participating in the initiative. The Bay County Tourism Development Council and The South Walton Tourism Development Council have pledged marketing resources. The Panama City - Bay County

International Airport and Industrial District has worked hard to enable new air service. The Company will release additional details regarding its future Panama City service in the coming months. The airline's entry into Florida's panhandle will be made possible in part by the airline optimizing its current flight schedule and repositioning aircraft. Additional Information Additional information with respect to the terms of the strategic alliance agreement between Southwest and St. Joe, including financial obligations, will be available in a Form 8-K that will be filed by St. Joe with the Securities and Exchange Commission today. To view a blog post on this news, visit: http://www.blogsouthwest.com. About Southwest After 38 years of service, Southwest Airlines, the nation's leading low-fare carrier, continues to stand above other airlines--offering a reliable product with exemplary Customer Service. Southwest Airlines is the most productive airline in the sky and offers Customers a comfortable traveling experience with all premium leather seats and plenty of legroom. Southwest recently updated its gate areas and improved its boarding procedure to make flying Southwest Airlines even more convenient. Southwest Airlines (NYSE: LUV) currently serves 67 cities in 34 states (Service to Milwaukee begins Nov. 1 making it our 68th). Based in Dallas, Southwest currently operates more than 3,200 flights a day and has nearly 35,000 Employees systemwide. More information about Southwest can be found at our web site at http://www.southwest.com About St. Joe The St. Joe Company (NYSE: JOE), a publicly held company based in Jacksonville, 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 JOE can be found on its web site at www.joe.com. Northwest Florida - Panama City International Airport www.newpcairport.com. SOURCE Southwest Airlines Co.

 

September 25, 2007 Thomas Drive Flyover Project The Thomas Drive flyover project consists of three phases, the first of which is already completed, the second will service the west-bound traffic and will cost an estimated $30 to $40 million and phase three will be less than $20 million and will take care of getting motorists onto Thomas Drive. The planning is done, but there is no funding in place for phase two or phase three and there is nothing on the drawing board for securing this funding. I was told that the need assessment has been completed but that there is limited state funds for projects such as this and this project is not top priority. And that’s it.

Panama City Beach, Florida

P

IER Park—A great Place to Shop, Eat and Play

Pier Park is forecasted to become the new "Downtown Panama City Beach," with its collection of enchanting eateries and espresso bars, chic retail shops, and a 16-screen state-of-the-art movie theatre. The 900,000 sq. ft., open-air lifestyle center is ideally situated between Front and Back Beach Roads, right in the heart of Panama City Beach, to serve the growing residential community, exploding condo market, and over six million tourists that visit each year. Developed by Simon Property Group, Pier Park will serve as the premier shopping destination for the Panama City Beach market and the entire Emerald Coast. Target is currently open for business, and construction has begun on Southern Theatres' Grand 16 Theatre, which is scheduled to open in summer 2007. Back Porch Seafood House and Reggae J's Island Grill will both feature fresh Gulf seafood and direct views of the Gulf of Mexico. Ron Jon's Surf Shop, Panera Bread, Old Navy, Johnny Rockets, Longhorn Steakhouse and Starbucks are other restaurants and retailers to look out for. Some retailers will open their stores at Pier Park in 2007. The Grand Opening of the project is scheduled for spring 2008.

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Pier Park - July Newsletter

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http://pcbdaily.com/email/pierpark/071707_newsletter_3.html

8/3/2007

> PLACE | FLA 03 29 06

BOOMING BAY COUNTY Dees Stribling

The new Bay County welcome mat in the form of an airport. Build it and they will come. Occasionally that happens in real life, and in the case of Bay County, Florida, it's about to happen in a big way. By the end of this decade, Bay County (and its main city, Panama City), promises to be among the fastest growing areas in the state, if not the nation. "It" in this case is a new international airport in Bay County, the first major airport developed in the United States in years. "They" are home-buying retirees from the Midwest and Northeast, time-sharing vacationers, beachfront aficionados, spring-break revelers, real estate investors,

developers, speculators and flippers. The rush is just beginning. As Florida counties go, Bay County is fairly small and has seen only modest growth in recent years, with its population expanding from about 127,000 in 1990 to 155,000 now, according to U.S. Census Bureau numbers. The county traverses a complex of bays (St. Andrews, West, North and East bays) on the Gulf Coast, with access to miles of desirable beaches; it is part of the "Redneck Riviera," to use a term no doubt frowned upon by local boosters, and it draws vacationers and second-home buyers mainly from the rest of the Florida Panhandle and nearby Alabama and Georgia. It's been that way for decades in Bay County. For one thing, the Interstate system bypasses the area, with the major east-west route I-10 connecting Pensacola to Tallahassee, though a couple of four-lane U.S. routes go to Panama City. More importantly, the current Panama City-Bay County International Airport is small and its capacity is seriously limited. In fact, at just over 6,300 feet, the airport's main runway is one of the shortest used by commercial airlines in Florida, and the runway safety area (that is, the runway overrun)doesn't meet current FAA standards, though it was grandfathered in. Another problem for the current airport is that flight patterns into it are restricted by the presence of two major Air Force bases nearby.

Map of the Bay County area in Florida. "It was clear by the mid-1990s that something had to be done, and the question was whether the existing airport could be expanded, or there needed to be a new airport, and if so, where," says Randy Curtis, executive director of the Panama City-Bay County Airport and Industrial District (the airport authority). "At first, plans to expand the current runways were seriously considered." Since the airport is hemmed in on its landward side by residential properties, expansion would

have meant expanding into St. Andrews Bay, a prospect that conservation groups vigorously opposed. Not only that, any runways close to the bay are vulnerable to storm-surge damage, a risk long acknowledged but which the hurricane season of 2005 impressed more fully on the entire Gulf Coast. Because of these concerns, the FAA eventually nixed any expansion of the existing facility. A new airport was the way to go. But where? That's where Jacksonville-based St. Joe Co. comes into this story, as a sine qua non of a new airport, or really any major development in the area. Though it isn't well known outside Florida, the St. Joe Co. (NYSE: JOE) is the largest private landowner in the state, holding roughly a million acres, which is even larger than the much more famous Disney holdings. Most of St. Joe's land is in the Panhandle, and includes about half of Bay County. JOE's Florida land empire, acquired by a scion of the DuPont family and his partners in the early decades of the 20th century, used to serve mainly as a source of raw material for the company's paper mills. As such, the company's holdings went largely undeveloped. But in the late 1990s, the company began to transform itself by divesting its industrial operations and becoming a real estate company. Since 1998, the company has developed about 4 million square feet of commercial and residential real estate in Florida. Early on it became apparent that the company's interests as a landowner in Bay County and the airport authority's interest in finding a new home dovetailed. St. Joe had the raw land, and the airport represented a way to spur development of the company's holdings.

The new Panama City Bay County airport will cost $312 million. "The idea is simple, but the planning was complicated," says Curtis, referring to the airport relocation. With plenty of bad examples of sprawl elsewhere in the state, the laws governing

large-scale developments were changed in 1998 with the goal of bringing some semblance of master planning to projects as large as the redevelopment of Bay County. It isn't clear yet if the new laws will serve as checks on sprawl, but in any case they've helped fashion the new Panama City-Bay County International Airport. Instead of piecemeal zoning and approval for a new airport and the surrounding commercial development, the project is going to follow a blueprint known as the West Bay Sector Plan, essentially an agreement between the state and county about what goes where. The centerpiece of the plan, the new airport, will go on undeveloped land near West Bay, but not too near, to protect it from hurricane damage. Beginning in 2001, the West Bay Sector Plan took about a year and a half to hammer out. It included negotiations between the state and local governments, dozens of public hearings, and vocal input from various conservation groups, such as the Nature Conservancy, which was brought in as an independent consultant during the process. All together, the plan covers roughly 75,000 acres, about 30,000 of which, mostly waterfront along West Bay, are being reserved as a conservation area. This set-aside is the state's "single biggest land conservation effort by a private company," writes Daniel Shaw, an assistant county manager and director of development services for Bay County. "The preservation area included at West Bay is roughly the same size as all of Bay County's existing cities combined." St. Joe donated about 4,000 acres for the airport itself, and another 9,800 acres as a conservation easement. Since much of the rest of the land in the West Bay Sector (along with acreage outside the plan) will be ripe for commercial and residential development by St. Joe (or those it might sell sites to), the donation represents an astute investment in the company's growth as a real estate developer. According to Jerry Ray, a spokesman for St. Joe, the company already has entitlements for more than 1,000 acres of commercial development and 6,000 residential units near the new airport. That will just be the beginning for the giant landholder.

St. Joe donated 4000 acres for the airport itself. "The record of decision by the FAA on the new airport is expected in September," Ray notes; that would represent the final go-ahead for project. "The state permits are in hand, the land use entitlements are in place, and the financing for construction will be finalized after the record of decision. The airport project has a lot of momentum now."

If all goes according to schedule, the airport will be completed by late 2008. Like the current airport, it will have two runways (with expansion room for a third), but they will be considerably longer than the existing ones. There will also be terminals and other facilities totaling 100,000 square feet. Funding for the $312 million project will be roughly divided in thirds between the federal and state governments, and local sources. "The new airport's going to be an enormous spur to growth of this area," says Ray. "There will be a significant increase in passenger service to and from the Midwest and the Northeast especially. The populations of those regions represent prime markets for residential real estate in this part of the state, which still has a lot of room to grow." Curtis agrees, and draws a parallel to the growth experienced by the Ft. Myers, Fla. area in the years after the completion of the Southwest Florida International Airport in 1983. From 1990 to 2000, the population of Lee County (Ft. Myers is the county seat) grew 31.6%, according to the Census Bureau, besting the overall Florida average population growth of 23.5% during the same period. By 2004, Lee County's population had topped 514,000, making it the 89th-fastest growing county in the nation. "The planning process isn't the same, but in a lot of other ways the situation is comparable to Ft. Myers 25 years ago," says Curtis. "The relocation of the airport is going to be the trigger to remake the entire Bay County area." 

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WHATLEY & DARTY REAL ESTATE & DEVELOPMENT 22200 PCB PARKWAY, STE D PANAMA CITY BEACH, FL 32413

Angie Wiggins, Realtor Cell 850-319-1005 Office 850-249-5577 Email: [email protected]