The St. Joe Company

In the 1920s, Alfred I. duPont visited Florida seeking a vacation home. His interest soon turned to large-scale timberland acquisitions across Northwest Florida. DuPont's holdings expanded to nearly 100,000 acres of newly cleared forestlands and in the early 1930s, DuPont acquired an additional 240,000 acres in Northwest Florida, including Port St. Joe.

Vacation Turns into Investment

In 1935, Alfred I. duPont passed away, leaving his estate and holdings to his brother-in-law and business partner, Edward Ball. In 1936, Ball incorporated the St. Joe Paper Company, continuing duPont's vision. Operations began at the paper mill in Port St. Joe with a focus on timberland and paper production. Over the next 20 years, the company acquired vast tracts of timerland, reaching more than 1 million acres by 1960.

St. Joe is Founded - Timberland and Paper

since 1936

In 1961, the St. Joe Paper Company acquired Florida East Coast Railway Company and nearly a decade later, Florida Talisman Sugarcane Operation, a 50,000-acre farm and sugar mill.

Railroad & Sugarcane Operation Acquired

Jacob Belin, Chair of the St. Joe Paper Company, was elected as Chair of the Board of the duPont Trust after Ball’s death in 1981. Belin began selling off the company's industrial operations and shifted the focus to land development, positioning the company for the real estate boom of decades to come. The St. Joe Real Estate division was formed, seeking "the highest and best use" of St. Joe lands.

Real Estate Division Established

In 1986, the St. Joe Paper Company sold 14% of its common stock to 602 shareholders and in 1990 the duPont Trust sold an additional 17% of the St. Joe Paper Company's shares, raising approximately $230 million and earning a listing on the New York Stock Exchange.

Listing Earned on NYSE

In 1996, the Port St. Joe paper mill was sold, shifting focus from timber to land development to maximize the company's landholdings. The following year, former Disney executive Peter Rummell became CEO and in 1998 renamed the company, The St. Joe Company. The iconic bluebird logo was introduced and the new ticker symbol, JOE.

Focus Shifts from Timber to Development

As the company continued to hone its focus on real estate development, in 1998, it sold Talisman Sugar followed by more than 500,000 acres of land for conservation to The Nature Conservancy and the State of Florida from the late 1990s to the early 2000s.

Assets Sold to Focus on Development

In 1999, construction began on the WaterColor 499-acre master-planned community in South Walton County, including WaterColor Inn & Resort. This was the company's first hotel project and featured 67 guestrooms and suites just steps from a private beach. The hotel is still operational today and a favorite of 30A visitors.

The St. Joe Community Foundation was established in 1999 as a way for St. Joe communities to support the efforts of nonprofits related to education, health, the environment and the arts. The Foundation is funded exclusively by a transfer fee of one half of 1 percent on the sale price of real estate in certain residential communities The St. Joe Company develops.

Development Begins on WaterColor® Community

Foundation Established to Support Local Communities

In 2010, the St. Joe headquarters moved from Jacksonville, Florida to Northwest Florida where a majority of land holdings and development was occurring. The corporate office was first located in Inlet Beach near Scenic Highway 30A in Walton County but eventually moved to Panama City Beach in Bay County (current corporate office pictured).

Headquarters Moves to Northwest Florida

Airport Opens on Land Donated by JOE

Recognizing the economic vitality and opportunity in the region, The St. Joe Company donated 4,000 acres for construction of Northwest Florida Beaches International Airport (ECP), which opened May 2010. ECP was the first international airport built in the United States post-September 11 and continues to see record growth in number of passengers each year.

In 2013, The St. Joe Company sold nearly 400,000 acres of non-strategic land to AgReserves, Inc. With more and more development happening in Northwest Florida, the sale allowed St. Joe to focus on its core real estate development business in the region and served as another example of the company's gradual move away from timber farming and paper production over the past two decades.

Land Sold as Northwest Florida Takes Priority

In 2015, The St. Joe Company's Bay-Walton Sector Plan, a long-term framework for future development encompassing 110,500 acres, gained approval from county and state governments. In addition to proposed development, the plan includes conserving more than 53,000 acres of regionally significant natural resources or nearly 50 percent of the project area. (Map for illustrative purposes only.)

50-Year Bay-Walton Sector Plan Approved

The St. Joe Company formulated and started to execute a new company strategy with a focus on growing recurring revenue and diversifying the residential, hospitality and commercial segments to include a broad range of price points, product types and demographics.

New Company Strategy Emerges

Construction Begins on First Apartment Community.

The St. Joe Company, TDC, Bay County, Bay County School District executed a Public-Private Partnership for the construction of a new state of the art amateur sports complex and a new K-8 public school in east Panama City Beach. The sports complex was completed in 2019, and the school was completed in 2022.

Construction Begins on First Apartment Community

Sports Complex and K-8 Public School Initiated

In June of 2018, St. Joe and HomeCorp began the construction of the first phase of apartment homes at Pier Park Crossings located on North Pier Park Drive adjacent to Frank Brown Park, the first of several more multi-family communities to come.

St. Joe partnered with Walton County Schools to transform its former corporate headquarters into the Magnet Innovation Center, a STEAM-focused public school. Through hands-on, project-based learning, the MIC equips students with critical thinking, collaboration, and problem-solving skills designed to prepare them for future careers and emerging technologies. The partnership was awarded the Commissioner's Business Recognition Award by the Florida Department of Education.

After the devasting impact of Hurricane Michael in October of 2018, The St. Joe Company committed to making significant investments in Panama City to help the area recover with residential communities of College Station, Park Place, Titus Park, North Bay Landing and Mexico Beach Crossings, all located in eastern Bay Co, the part of the county that was the most impacted by the path of Hurricane Michael.

Master developer Minto Communities USA, global lifestyle brand Margaritaville Holdings and The St. Joe Company announced commencement of land development activities for Latitude Margaritaville Watersound located in Panama City Beach, FL. Latitude was the first active adult (55+) community in the St. Joe residential portfolio.

Magnet Innovation Center Established

St. Joe Invests in Hurricane Michael Recovery

Development Begins on Latitude Margaritaville Watersound

The Panama City Commission approved a ground lease with St. Joe to help with the re-development of downtown Panama City with a new waterfront hotel and restaurant, a process that started in 2018 when St. Joe sent a letter to the city offering to make an investment in downtown. Construction of the hotel and restaurant was completed in 2022 and 2023 exclusively with a capital investment made by St. Joe and with no public funds.

New Downtown Panama City Hotel and Restaurant Approved

The St. Joe Company, Florida State University and Tallahassee Memorial HealthCare celebrated the construction kick-off in January 2023 of a healthcare campus in Panama City Beach with the goal of bringing together clinicians, researchers and students to better serve the medical needs of Northwest Florida.

FSU Health Medical Campus Breaks Ground

Five Hotels Opened in First Half of Year

First Building on Medical Campus Opens