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Port St. JoeFLORIDAStrategicOpportunitiesfor Port St. Joe’sEmerging PortPanama Canal

PORT of PORT ST. JOEG90EORGIACSX Class I Main LineWASHINGTONJACKSON33110SR 71WALTONFLORNorthwest BeachesIDGADSDEN27LEONATallahasseeCALHOUNBAYAN Railway23198Bay Line Railroad319LIBERTYPanama CityWAKULLAGulf of MexicoGULF02.5510SR 71FRANKLIN15 MilesAREA OF DETAILPORT ST. Major Rail LineAIDApalachicolaSR 71US 98ICWGulf County CanalPort St. JoeGulf County, FloridaLATITUDELONGITUDE290 49’54.71” N850 18’43.08” WWith numerous assets, the Port of Port St. Joe is poised for development and expansion.It is one of 15 state-designated ports within the state of Florida and one of only three ports alongNorth Florida’s Gulf Coast. With the expansion of the Panama Canal and the inception of PostPanamax shipping, some non-competitive freight handling operations currently at larger portsare expected to shift to smaller ports, especially to those that have shorter ship-to-market routes.With a direct route north from the Panama Canal, the Port of Port St. Joe is a perfect candidate.

Florida’sSeaportsPort St. JoeSTRATEGIC LOCATIONnn State-designated deepwater port in the sheltered waters of St. Joseph Bay. Federally approved navigational channel depths between 35 feet and 37 feet;federally approved turning basin and harbor channel depths between 32 feetand 35 feet.n 1,900 linear feet of existing deepwater bulkhead with potential expansion to 5,500 linear feet.n Offers direct access to the U.S. Gulf Intracoastal Waterway.n Offers convenient rail and interstate access.n One of only three state-designated ports along North Florida’s Gulf Coast.UNIQUE ASSETSnn The Port is adjacent to more than 5,000 acres of undeveloped land. This vast acreage offers a blank canvas formaritime-related and spin-off businesses not available at land-constrained ports elsewhere. The Port’s canal site offers niche maritime opportunities for regional uses. n As many Florida ports focus on containerized cargoes, the Port of Port St. Joe can service bulk cargoes and othercommodities.nnnn With the expansion of the Panama Canal and inception of Post-Panamax shipping, some non-competitive freighthandling operations at larger seaports are expected to shift to smaller ports, especially those locations withshorter ship-to-market routes. Opportunities exist to attract and stimulate new green industries. The Port and surrounding area are a state-designated Enterprise Zone. The 180 acres surrounding the bayfrontbulkhead is designated as a Brownfield. Natural gas 50,000 MMGtu/dCONVENIENT ACCESSWATERnn The Port offers barge access to inland rivers and waterways system (U.S. Gulf Intracoastal Waterway, channel 12’x125’). The Gulf County Canal connects the Gulf of Mexico with the U.S. Gulf Intracoastal Waterway, which traverses theGulf Coast of the United States. This navigable inland waterway runs approximately 1,050 miles from Carrabelle, Fla.,to Brownsville, Texas, and provides access via the inland river system to locations as diverse as Chicago, Pittsburgh,Memphis, Tulsa and other cities.RAILn AN Railway, a subsidiary of Genesee Wyoming, provides rail service to the Port and connects with the CSX TransportationClass I mainline.INTERSTATE AND AIRn Direct access to I-10 via SR-71.n Only 21 miles to Apalachicola Regional Airport via U.S. Highway 98.n 7 miles to the Northwest Florida Beaches International Airport5in Panama City Beach.

ChicagoNew YorkPort AccessROUTESWATERRAILINTERSTATEPORT ST JOEHouston1,712 MIPANAMACANAL1,534 MIPORT ST. JOEHouston* East and West RoutesNEW YORKRAILINTERSTATE1,172 MI1,070 MI1,636 MI1,529 MI1,267 MI1,205 MICHICAGORAILINTERSTATE975 MI947 MI1,046 MI1,180 MI1,336 MI1,299 MIMiamiGulf of MexicoCaribbean SeaPacific OceanMiami1,536 MI E*1,573 MI W*Panama CanalAtlantic Ocean

NAVIGATION & TRANSPORTATIONRANGE BIntracoastal WaterwayRANGEGulf of Mexico CSt. Joseph Pt. 98Dredged Navigation ChannelGulf County Canal5.6 miles to Intracoastal WaterwayRANGE DCR-382RAHighway 98 BridgeNGE D75’ Clearance per NOAA ChartsSt. Joseph Bay SR-71 Harbor Channel& Turning BasinAN Railway98Port St. Joe Harbor Channel Depths - Federally ApprovedName of T ST JOE HARBORRange A5003.737Range B4001.737Range C4001.437Range D3002.835Harbor Channel2500.435Turning Basin10000.432Limiting channel depth at the time of the last survey in April 2013 was approximately 24 feet.NOTE: For the latest information on channel conditions, /detail.asp?code PJ* Mean Lower Low WaterLEGENDDredged Navigation ChannelExisting Rail LinesRoadsThe US Army Corps of Engineers has issuedthe Federal Permit for dredging, and the PortAuthority has a navigational channel that isfederally authorized to a maximum of 37 feet.The Port Authority and The St. Joe Companyare working with elected officials to obtainfunding to make dredging improvements tothe authorized depth.

OPPORTUNITIESIntracoastal WaterwayIntracoastal WaterwayCR-382SR-71Gulf County Canal5.6 miles to Intracoastal WaterwayAN RailwayPort AuthorityIndustrial /- 33 acresCommercialFisheriesPort St. JoeDowntown9898180 /- AcresEasternShipbuildingGroup20-Acre LeasePotential Bulkhead ExpansionArea 3,600 feet /-Existing Bulkhead1,900 feet /-St. Joseph BayPort St. JoeMarinaLEGENDSt. Joe Owned PropertyPort Authority PropertyINVESTMENTOPPORTUNITIES:In February 2012 The St. Joe Company and the Port St. Joe Port Authority executed a Memorandum of Understandingto partner and collaborate on port-related economic development initiatives. St. Joe, in conjunction with the Port St.Joe Port Authority, is open to a full range of public-private partnerships such as joint ventures, terminal operatingleases and individual carrier or cargo-handling investments as well as the use of revenue bonds, equity funds, andother investment opportunities. Projects on the Port could be accelerated with private sector investments to matchpotential public sector grants. Some properties in the more than 5,000 acres of undeveloped lands in the Port environsare available for immediate port development.

OPPORTUNITIESGiven the Port’s location, assets, and morethan 5,000 acres of undeveloped land,there are numerous business opportunitiesavailable:RECENT SUCCESSESn Port Related ActivitiesFlorida Governor Rick Scott’s priority is job creation, with specialattention to achieving this by expanding Florida’s ports. The St. JoeCompany, in alliance with the Port St. Joe Port Authority, has beenworking to bring new business opportunities as well as securing fundingfor infrastructure improvements to the Port of Port St. Joe.n Storage, Warehousing, Distributionnn Assembly and Fabricationn Light Industrialn Recyclingn Shipyards and Related Industriesn Servicing of Gas and Oil Industriesn Energy and Alternative Energy IndustriesPotential BusinessOpportunities:Potential InvestmentOpportunities and Deal Options:n Ground Leasesn Operating Leasesn Joint Venturesn Public-Private Partnershipsn Equity Participationn Regulatory/Permitting AssistancennnnInfrastructure:n Watern Sewern ElectricnNatural Gasn State Highwayn Railn Bulkheadn Navigational ChannelnRegulatory / Incentives:n Industrial Zoningn Enterprise Zonen Brownfieldn Local Government SupportT he US Army Corps of Engineers issued the Federal Permit inFebruary 2015 to dredge the shipping channel up to 37 feet.T he Florida Department of Environmental Protection issued theState Permits in December 2014 to dredge the shipping channel upto 37 feet and disposal of dredge materials to two nearby locations.The Port Authority submitted permit applications September 2014 todredge the shipping channel up to 37 feet.T he AN Railway, L.L.C. is receiving 5 million to rehabilitate about 40miles of rail and 17 structures including a trestle over the ApalachicolaRiver to accommodate freight trains to and from the Port.T he St. Joe Company has signed a Letter of Intent (LOI) with EnovaEnergy Group, a full service, clean energy development companyspecializing in development and operations of contracted renewablebased assets. Enova has expressed an interest in transporting aminimum of 1 million metric tons per year of wood pellets using theAN Railway to the Port of Port St. Joe for further shipment to overseasmarkets.T he St. Joe Company has also signed a Letter of Intent with GreenCircle Bio Energy, Inc., a producer of biomass based renewable energy.The LOI anticipates several potential new business developmentopportunities to create jobs in the Northwest Florida region. GreenCircle is interested in leasing a site from St. Joe along the AN Railwayto develop a wood pellet production facility. Green Circle operates theworld’s second largest wood pellet plant in Cottondale, Fla. The woodpellets produced at the new production facility can be transported viatruck or AN Railway to the Port for further shipment overseas.Both Letters of Intent are contingent upon the Port of Port St. Joereceiving funding to complete maintenance dredging of the shippingchannel. State-Designated Rural Areaof Critical Economic ConcernnT he Florida Department of Transportation awarded in November 2015a 1 million grant to the Port St. Joe Port Authority to fund final designof the dredge material disposal areas and to prepare specificationsand bid documents for their construction. The intent is to advance thatproject to “shovel ready” status so that implementation of the dredgingproject, when authorized, will not be delayed.nE astern Shipbuilding Group of Panama City, Fla., has leased 20 acres atthe port site to expand its shipbuilding, vessel construction and repairand industrial steel fabrication operations in the Gulf-coast region.