FOR IMMEDIATE RELEASE
January 30, 2019
THE ST. JOE COMPANY ANNOUNCES PLANS TO BUILD AND OPERATE AN INDOOR SHOOTING RANGE AND FIREARMS TRAINING CENTER IN PANAMA CITY BEACH, FLORIDA
WATERSOUND, FL— The St. Joe Company (NYSE: JOE) (“St. Joe”) today announces its plans to build and operate an indoor shooting range called The Powder Room Shooting Range and Training Center (“The Powder Room”) in Panama City Beach, Florida. The indoor facility is currently under construction near the intersection of Panama City Beach Parkway and Griffin Boulevard at Beach Commerce Park.
Plans call for the facility to be approximately 17,000 square feet and include 14 shooting lanes for indoor target practice at lengths of 75 and 45 feet as well as a retail store. Rooms for training and educational opportunities are also included in the plans as well as a virtual reality simulator. The facility will be open to the general public and will have the potential to host tournaments, competitions and group functions.
“Panama City Beach is an ideal location for The Powder Room,” said Patrick Murphy, Senior Vice President of Operation for St. Joe. “There is not another public, indoor facility in this area offering the services that we have planned. We intend to incorporate our proven hospitality and customer service model to make this an industry-leading operation.”
Joe Preston, Club Manager for St. Joe who brings 20 years of experience with the Walton County Sheriff’s Office, will manage the operations of the center. “The Powder Room is being planned to be a safe, enjoyable experience for everyone from the expert marksman to the person who has no experience in shooting sports,” said Preston. “The educational and training offerings that we plan to make available will be an asset to local and regional law enforcement agencies and will be available to guests who are looking to increase their knowledge of gun safety and shooting sports.”
“The Bay County Sherriff’s Office is glad to see a facility come to our community where our citizens can learn firearm safety from trained professionals in a controlled environment,” said Tommy Ford, Bay County Sherriff. “We also look forward to collaborating on different firearm training and safety programs.”
“The City of Panama City Beach is home to countless number of retired military and experienced hunters who have used firearms their entire lives. This facility will allow them to continue to enjoy a passion they have had for years in a safe and comfortable setting,” added Mike Thomas, Mayor of Panama City Beach. “We appreciate the St Joe Company for this addition to our community.”
Construction on The Powder Room began in late 2019. St. Joe intends to complete construction and open the facility in late 2020.
Important Notice Regarding Forward-Looking Statements
This press release contains “forward-looking statements,” within the meaning of Section 21E of the Exchange Act, including statements regarding the proposed The Powder Room. These forward-looking statements are qualified in their entirety by cautionary statements and risk factors set forth in St. Joe’s filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2108, its Quarterly Reports on Form 10-Q and subsequent current reports on Form 8-K, as well as the following: (1) the ability of St. Joe to complete the proposed The Powder Room in Panama City Beach, Florida and (2) and the interest of prospective customers in Northwest Florida of an indoor shooting range and training center.
About The St. Joe Company
The St. Joe Company, together with its consolidated subsidiaries, is a real estate development, asset management and operation company. The Company owns land concentrated primarily in Northwest Florida and has significant residential and commercial land-use entitlements in hand or in process. More information about the Company can be found on its website at www.joe.com. More information on the Company’s current project pipeline can be found at www.joe.com/project-updates.
©The St Joe Company 2020. “St. Joe®”, “JOE®”, the “Taking Flight” Design®, “St. Joe (and Taking Flight Design) ®”, are registered service marks of The St. Joe Company or its affiliates.
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