INVESTOR NEWSLETTER - DECEMBER 2009

Dear Cornerstone Investor,

This has been an interesting and challenging year. We have been through a recession and are now building a base from which we will see a resurgence of our economy in the region and the nation. Despite the challenges we faced, we are ending the year with a surprisingly good report on job development in our region. We have announced several high-profile projects in Jacksonville and our partner counties.

• Saft,a French-based high-tech battery maker, chose Jacksonville and Cecil Commerce Center as the site of its new lithium ion battery manufacturing plant. Saft will break ground early next year and will invest nearly $200 million.
• The Federal Deposit Insurance Corporation (FDIC) selected Jacksonville for a 500 person office on the Southside to sort through asset reallocation of banks east of the Mississippi River.
• Deutsche Bank has hired an additional 250 people as part of the 1,000 jobs it committed to create at the beginning of last year.
• Science First selected Nassau County as the new site for its firm that manufactures science teaching aids. The company also announced its acquisition of SeaLife Systems, a manufacturer of aquarium filtration products.
• InEnTec, a chemical recycling and clean technology company, relocated its corporate headquarters to Clay County.
• National Direct Response expanded its call center in Flagler County and brought an additional 250 jobs to Bunnell.

With these and other announcements throughout the year, more than 2,000 new jobs have been created for our region. In addition to the jobs created, we gained an additional 2,500 jobs form the Navy with the relocation of the P-3 Orion planes from Brunswick, Maine to Jacksonville Naval Air Station. In this challenging economy, we achieved a number of other exciting accomplishments.

• We have begun an aggressive new outreach program to find new prospects for our region. This month we traveled to Atlanta to reintroduce our region to an important group of site consultants, real estate executives and interested companies. The trip's purpose was to generate new business leads that will potentially create future job growth and business relocations or expansions in our region. Visit www.ExpandInJax.com to read more about the results of this trip. Next year, we are planning a similar outreach mission to New York and other locations.
• We developed a new Website that has doubled the information available to visitors and is now one of the easiest sites to navigate.
• We participated with the Jacksonville Aviation Authority and many of our regional partners in an airline summit that brought route planners from a number of the major airlines to learn first-hand why they should increase air service to Jacksonville International Airport.
• The Aircraft Services Education Facility at Cecil Commerce Center is moving forward after a three-year effort. This is a groundbreaking partnership between JAA and Florida State College at Jacksonville to establish a paint hanger to meet the Maintenance, Repair and Overhaul (MRO) needs of employers at Cecil Commerce Center.
• This year we strategically aligned workforce development initiatives with WorkSource and our regional partners to identify and pursue regional needs and opportunities for collaboration. WorkSource also The new interchange at I-10 and Cecil Commerce Center has officially opened and we have received the go-ahead to construct state road 9B, which will provide outstanding access between Duval and St. Johns County.

Our region is successful because of our strong partnership with our regional county partners -- Baker, Clay, Flagler, Nassau, Putnam and St. Johns -- the Jacksonville Economic Development Commission, WorkSource, JAXPORT, JEA, JAA, and JTA.

  Chairman of Rayonier Selected as New Cornerstone Chair

I am excited to announce that Lee Thomas, Chairman of Rayonier, will be assuming the role of Cornerstone Chair for 2010. Lee has substantial global business experience and has worked closely with the Atlanta Chamber in Business Development.






Thank you all for making my year as Cornerstone Chair exciting and memorable. On behalf of Cornerstone, I wish all of you a safe and happy holiday season.

Sincerely,
Greg Smith

Cornerstone Chair
Jacksonville and Northeast Florida President, Bank of America

Baker, Clay, Duval, Flagler, Nassau, Putnam and St. Johns Counties
3 Independent Drive • Jacksonville Fl 32202 • 904.366.6639
bizrelo@jacksonvillechamber.org • www.expandinjax.com
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