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FAA Issues a Record of Decision Approving Relocation of Panama City - Bay County International Airport

Posted on: Friday, 15 September 2006, 15:00 CDT

The Panama City - Bay County Airport and Industrial District (Airport Authority) announced today that the Federal Aviation Administration (FAA) had issued its Record of Decision (ROD) approving the relocation of the Panama City - Bay County International Airport (PFN) to the proposed site in West Bay on land donated by The St. Joe Company (NYSE:JOE).

The ROD is the most significant milestone to date in the effort to relocate PFN. The Airport Authority has sought to relocate the airport to address deficiencies at the current site and to meet future projected aviation demand. Now with the FAA's official approval, the Airport Authority is eligible for federal Airport Improvement Program funds to assist with the relocation project.

"On behalf of Bay County and Northwest Florida, I'd like to thank the FAA for their extraordinarily thorough analysis," said Joseph Tannehill, chairman of the Panama City - Bay County International Airport Authority and Industrial District. "The FAA has extensively researched and evaluated this project to reach this determination."

"The FAA, through its in-depth analysis has provided an independent, objective validation of the need for this airport," said Tannehill. "Because of the FAA's efforts, the people of Northwest Florida will have an airport that meets all federal safety and design standards. Furthermore, it will provide an economic development platform, which will be capable of attracting quality jobs and competitive airfares to Northwest Florida."

"We are very pleased with the FAA's decision," said Airport Executive Director Randy Curtis. "We believe it is the best decision for our community and the surrounding region. We still have work to do, but this is an extremely important step. We very much appreciate the time, attention to detail and the efforts the FAA has devoted to the Panama City-Bay County International Airport on this project."

The proposed airport relocation site is in northwestern Bay County on land currently owned by The St. Joe Company. The St. Joe Company has graciously donated the 4,000 acres which is to be used for the new airport. Ownership of that land is to be conveyed to the Airport Authority in accordance with an agreement between the St. Joe Company and the Authority.

How to Get A Copy of the ROD

Copies of the Record of Decision will be available at the Airport administrative offices upon request or by visiting the Airport's website at http://www.pcairport.com. To request a copy of the ROD please submit a written request to the Executive Director of the Panama City-Bay County International Airport at 3173 Airport Road, Box A, Panama City, Florida 32405.

Source: Business Wire

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