, to individuals who are vacationing in the area. The company’s resorts and leisure businesses are managed for the company by a third party management company. Golf Courses and Marinas: The company owns four golf courses in Northwest Florida. Three of them are in the Panama City Beach area and the fourth is located in Tallahassee. The golf courses are situated in or near the company’s residential communities. It also owns and operates two marinas. Its golf courses and marinas are managed for the company by a third party management company. St. Joe Club & Resorts: In January 2014, the company launched St. Joe Club & Resorts, a private membership club that provides members access to an offering of benefits and privileges to certain of its golf courses and other resort facilities. In addition, the company is expanding its vacation rental management services by offering vacation home management services to homeowners in surrounding communities. Leasing Operations The company’s leasing operations business includes its retail and commercial leasing. Its retail leasing business principally arose in connection with the growth in its residential developments. The company has various small retail shopping centers located in or very near to some of its residential projects, such as the WaterColor, WaterSound Beach, SouthWood, and WindMark Beach communities that are managed by its leasing team. From time to time, the company might sell certain resort, leisure and operating properties. Seasonality: Revenues from this segment’s businesses are higher in the second and third quarters. Forestry segment This segment owns and operates forestry operations in Northwest Florida. As of December 31, 2013, the company had 545,000 acres designated for forestry operations, including land in West Bay, and had the ability to harvest approximately 315,000 acres. The company produces both sawtimber (lumber used in construction) and pulp (timber used to make pulp for products, such as linerboard). Southern Pine, the company’s major product, is a product that fits into cost-conscience supply chains. Business Strategy The company’s business strategy is to explore opportunities to capitalize on the improving retirement demographic; expand its vacation rental programs; develop new commercial and industrial uses for its land portfolio; develop leasable properties in or near its assets; explore partnerships with best of class operators; and continue efficient operations. Governmental Regulation The company’s operations are subject to federal, state, and local environmental laws and regulations, including laws relating to water, air, solid waste and hazardous substances and the requirements of the Federal Occupational Safety and Health Act and comparable state statutes relating to the health and safety of the company’s employees. History The St. Joe Company was founded in 1936. The company was incorporated in 1936.
st joe co/the
(JOE:New York Consolidated)
133 South WaterSound Parkway
WaterSound, FL 32413
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