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Tue, September 14, 2010

The St. Joe Company Announces Neal Wade Joins Economic Development Team


Published on 2010-09-14 08:10:31 - Market Wire
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WATERSOUND, Fla.--([ BUSINESS WIRE ])--The St. Joe Company (NYSE:JOE) today announced the appointment of veteran economic development executive, Neal Wade, as senior vice president, economic development for St. Joe. Wade will be responsible for bringing his extensive experience and expertise to the development of VentureCrossings Enterprise Centre, the regiona™s largest commercial development located adjacent to the newly opened Northwest Florida Beaches International Airport.

"Neal Wade is recognized as one of the most successful economic development leaders in the country"

Wade, who worked for St. Joe from 2000 to 2003, is currently the Director of the Alabama Development Office (ADO). The ADO is the statea™s lead economic development organization, credited with creating 20,000 new jobs annually. During his tenure, Wade was actively involved in the statea™s most successful economic development projects such as ThyssenKrupp Steel, Hyundai Heavy Industries, Austal USA, EADS CASA Engineering Center, Hudson-Alpha Institute for Biotechnology, and CGI Group Inc. There have also been major expansions of companies such as Hyundai, Honda, Mercedes-Benz, Toyota, Ryla, and Faurecia North America, among other projects in the automotive, aerospace and life sciences industries. During Wadea™s tenure, the ADO was twice named the top state economic development agency in the United States.

aNeal Wade is recognized as one of the most successful economic development leaders in the country,a said St. Joea™s President and CEO, Britt Greene. aHis return to St. Joe is yet another sign of our commitment to Northwest Florida and our assets here. With Northwest Floridaa™s military presence, top quality work force and strategic geographic location, projects such as VentureCrossings can provide a platform for decades of opportunity and the creation of quality jobs in the region. St. Joea™s objective is to be a leader in creating a better future for the entire region,a added Greene.

aI am pleased to be adding my background and efforts to a high caliber team that includes Kevin Johnson from Research Triangle Park Foundation, and CB Richard Ellis, the largest commercial real estate brokerage firm in the world,a said Wade. aOur mission is to create jobs. Economic development is about people, and I see my role as promoting Northwest Floridaa™s strengths and raising our profile to be top of mind in order to create a climate for growth. But one thing Ia™ve learned is no one person can generate economic development. To achieve responsible growth, there must be a collaborative regional effort.a

aOur goal is to assemble the finest economic development team in the Southeast,a said Greene. aWe began this process by hiring Kevin Johnson from Research Triangle Park Foundation and partnering with CB Richard Ellis during 2009, and with the addition of Neal Wade, we now have two capable leaders and a great partner who can position St. Joe as a responsible contributor to Northwest Floridaa™s future.a

Prior to 2000, Wade served for nine years as president and chief executive officer of the Economic Development Partnership of Alabama, a private consortium of the statea™s leading companies dedicated to economic development.

During Wadea™s tenure, the ADO was twice named the top state economic development agency in the United States. Alabamaa™s economy has been named the best in the Southeast for five straight years.

Wade graduated from Samford University and he and his wife, Mary Ann, have three children and six grandchildren.

About St. Joe

The St. Joe Company (NYSE: JOE), 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. aSt. Joe,a aVentureCrossingsa and the "Taking Flight" design are service marks of The St. Joe Company.

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