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Nassau County Industrial Site with Rare Dual Rail Access Receives Megasite Certification



  Nassau County Industrial Site with Rare Dual Rail Access Receives Megasite
  Certification

 Florida Governor Rick Scott Hails Certification as ‘Important Milestone’ for
                                State, County

Business Wire

CALLAHAN, Fla. -- June 11, 2013

Nassau County’s Crawford Diamond Industrial Park, an 1,800-acre industrial
site with rare dual Class I rail access, received megasite certification,
becoming the state’s second certified site and Nassau County’s first. The site
was certified by McCallum Sweeney Consulting, a site location firm that
specializes in certifying sites as development ready. Crawford Diamond is
owned and managed by TerraPointe, LLC, the real estate subsidiary of Rayonier
(NYSE: RYN). Florida Governor Rick Scott, Nassau County officials, and
TerraPointe representatives today celebrated the certification at an on-site
ceremony.

“Today is an important milestone for Nassau County and Florida. In just over
two years, we have already created over 330,000 private-sector jobs and our
unemployment rate has dipped to 7.2 percent – well below the national average.
Florida is ideally positioned to be a global hub for business and this site
will allow any company to do business worldwide. Projects like this will help
us continue to create jobs and opportunities for Florida families,” said
Governor Rick Scott.

“Megasite certification provides certainty to prospective buyers that all the
preliminary work is done and that the site is ready for acquisition and
development,” said Paul Boynton, chairman, president and chief executive
officer of Rayonier. “Prospective companies can expand or relocate to Crawford
with the security of knowing that zoning and permits are secured,
environmental and geotechnical testing is done, and engineering work for
drainage, utilities and transportation infrastructure is complete.”

Crawford Diamond is the only site in Florida where two Class I railroads
intersect and one of the few undeveloped dual-rail served sites remaining in
the South, making it a truly rare, valuable site and an ideal location for a
large-scale manufacturer or distributor. In addition to on-site frontage to
both CSX and Norfolk Southern, Crawford Diamond is close to five deep-water
ports, four marine terminals, and two interstates. It is located 10 miles from
the Jacksonville International Airport, with a 700,000-strong workforce within
a 50-mile radius. Due to its proximity to Interstate 95, distributors based at
the site can easily service the entire U.S. Southeast.

"Crawford Diamond represents a stronger and more prosperous future for Nassau
County. Our county's Vision 2032 Task Force, the Nassau County Economic
Development Board, our Planning & Zoning Board, and my fellow County
Commissioners are working tirelessly to listen to our citizens and execute our
vision to create high-wage jobs in Nassau County for current and future
generations,” said Daniel Leeper, chairman, Nassau County, Board of County
Commissioners. We greatly appreciate the thoughtful and transparent land use
planning that Rayonier and TerraPointe brought to this project.”

Crawford Diamond is already approved for up to 10.5 million square feet of
industrial land use, which can include manufacturing, assembly, warehousing
and distribution, as well as an intermodal inland port or logistics center.
The site, which was recently recognized by Southern Business & Development
magazine as one of the nation’s “Ten Rail-Served Sites that Deserve a Second
Look,” has access to natural gas and is approved for on-site power generation.

“With the vast majority of rail-served facilities captive to just one
railroad, companies put a major premium on being able to choose between two
competing Class I rail companies,” said Boynton. “Shippers at Crawford Diamond
will have 3,250 feet of frontage on CSX and 6,700 feet of frontage on Norfolk
Southern to make their shipping costs more competitive and provide access to
more rail origins and destinations.”

TerraPointe, in partnership with the Nassau County Economic Development Board,
shepherded the zoning and entitlement process to ready Crawford Diamond for
development. The process of pursuing and obtaining entitlements — thus
removing the technical and regulatory hurdles for buyers — is the foundation
of TerraPointe’s land value creation strategy.

“This is a big step forward in our five-year strategic plan, Nassau Tomorrow.
Megasite certification validates Crawford Diamond’s status as one of the top
industrial sites in the country,” said Steve Rieck, Executive Director of the
Nassau County Economic Development Board. “Certification is the stamp of
approval that many major companies now require before they’ll even consider a
site for expansion or relocation, as it signifies the site is served with
adequate infrastructure, properly zoned, and relatively risk free. With
certification complete, Crawford Diamond is sure to quickly attract large
employers to our region, helping us meet Nassau Tomorrow’s goal of 3,800 new
jobs.”

In addition to certification, Crawford Diamond features an even faster
development timeframe than many similar sites due to local expedited
permitting procedures. Nassau County boasts a 30-day permitting process with
no concurrency, enabling companies to begin development as soon as possible.

About TerraPointe:

TerraPointe LLC, Rayonier Inc.’s real estate subsidiary, executes Rayonier’s
real estate value creation strategy by acquiring and entitling properties for
residential, commercial and industrial uses, master planning and permitting
for future communities, and marketing of higher-and-better-use properties. For
more information, visit www.terrapointeserviceslandsales.com.

About Rayonier:

Rayonier is a leading international forest products company with three core
businesses: Forest Resources, Real Estate and Performance Fibers. The company
owns, leases or manages 2.7 million acres of timber and land in the United
States and New Zealand. The company's holdings include approximately 200,000
acres with residential and commercial development potential along the
Interstate 95 corridor between Savannah, Ga., and Daytona Beach, Fla. Its
Performance Fibers business is one of the world's leading producers of
high-value specialty cellulose fibers, which are used in products such as
filters, pharmaceuticals and LCD screens. Approximately 50 percent of the
company's sales are outside the U.S. to customers in approximately 40
countries. Rayonier is structured as a real estate investment trust. More
information is available at www.rayonier.com.

About Nassau County Economic Development Board:

The Nassau County Economic Development Board is a non-profit organization
formed in 1995 as a public-private partnership to provide leadership and
develop policies and programs that will foster a diversified and financially
strong business community, which will enhance the quality of life in Nassau
County. The NCEDB is committed to help broaden and diversify the local tax
base and to assist with the creation of high-quality, diversified jobs within
all areas of Nassau County. For more information, visit
www.expandinnassau.com.

GRAPHICS AVAILABLE UPON REQUEST

Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20130611006484/en/

Multimedia
Available:http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50650783&lang=en

Contact:

Rayonier
Media Contacts:
Russell Schweiss, 904-357-9158
russell.schweiss@rayonier.com
or
NCEDB
Steve Rieck, 904-225-8878
srieck@expandinnassau.com
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