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Panama City Florida Real Estate
Why Invest in Panama City, Florida
The Panama City, Florida area is undergoing significant and unique re-construction.
If all you've ever heard about the Panama City Beach, Florida area is "Spring Break" or "The Redneck Rivieria" then you've not heard the whole story.
Here are some important reasons, considerations and topics of interest you must know when considering investing in the Panama Cit, Florida area...
- Unprecedented public expenditure on transportation infrastructure
- Preponderance of scenic waterfronts and under utillized natural places
- First new international airport built under the rules of homeland security with 12500 feet runways and its international implications
- Unmatched economic incentives and business environment
Regional strengths and oppportunties
- The development of a 78,000 acre west bay sector area plan (Florida’s largest single master planned development) to include a new airport
- The new North-South Connectors
- Gulf Coast Parkway,
- increase lane traffic to 3 lanes on SR 79 & 77,
- New interstate etc.
- An the new East-West connectors
Both of which will tie the region to neighboring states and allow goods to be delivered to more than 60% of the United States and parts of Canada within a single day
- Increase lane traffic to 4 lanes on SR 20
- US 98 improvements
- Gulf Coast Parkway corridor is designed to improve hurricane evacuation and open up vast land areas for development, reduce traffic on the existing Hwy 98 corridor through Tyndall A.F.B. and connect Gulf county and the region south to the new international airport.
- Deep water port (port of Panama City) which is designated a foreign trade zone, offering companies the potential for substantial transportation savings as well as necessary rail corridors
- Highly skilled workforce with many transferable skills from the region's multiple military installations as well as 2 community colleges and 1 senior university
- Right to work guaranteed by the Florida constitution;
- Very low unionization rate of 6.8%, one of the lowest in the us (bureau of labor statistics 2002)
- Utility rates among the lowest in the south east
- The state of Florida considers warehousing and distribution to be a qualified target industry
- Bay county's coastal beaches and bay front land has escalated in value in excess of 200 % average of the past several years, but still has over 80 % of its land area vacant
The northwest Florida transportation corridor was created by the 2005 Florida legislature. The primary purpose of the corridor is:
- To improve mobility on the US 98 corridor in northwest Florida
- To enhance traveler safety and Industry
- Develop hurricane evacuation routes,
- Promote economic development along the corridor
- And implement transportation projects to alleviate current or anticipated traffic congestion
Other regional Improvements
- Pier park, a state of the art shopping complex on 1.1 million sq ft in Panama city beach
- FSU is building their world class marine sciences institute and larger campus in Lynn Haven
Tyndall AFB is growing due to mission increase by BRAC commission
Old airport site to be redeveloped into a 750 acre town center in panama city
- East bay a 3800 unit master planned community is opening in Callaway with energy efficient structures and the east bay institute - an energy and renewable teaching and learning center
Since 2000 the area has experienced over 10% growth per year
Opening of the new airport will position this area as a gateway to the world
Influx of new & unprecedented capital and the associated skill sets of quality developers, as well as the strategic advantage of the largest land owner in the tate having a strong local presence uniquely prepares the area for the future anticipated growth
78000+ acre master planned Greenfield development of the St. Joe company is the largest ever in Florida
key projects include a new state of the art airport
- 4.4million sq ft of commercial, professional office and services and industrial uses preserving half of the sector area plan, whole providing over 6000 residences, marinas and other recreational and business amenities
- No inventory tax,
- No franchise tax,
- No state level property tax
- and an enterprise zone for additional package of incentives
- Shovel ready and entitled sites with proximity to rail and interstate frontage
Contact us anytime for more information about Panama City Beach Home, Condo and Commercial Real Estate Sales!
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