INVESTOR NEWSLETTER - October 2009

Port Dredging is Critical to JAXPORT'S Future
Jacksonville's port system has a number of advantages that are attractive to cargo shippers, including:

• Well-run facilities
• Available land
• Superior highway and rail connections
• Geographic location ideal for transporting goods throughout the Southeast

These advantages make JAXPORT the logical first port of call for ships moving through the Panama Canal. Currently, the St. Johns River Federal Channel is 40 feet deep in most areas and a U.S. Army Corps of Engineers dredging project is finishing the final five miles of the harbor deepening down to 45 feet.

Still, the race is on to be ready for tomorrow’s larger ships. JAXPORT’s main competitors to the north---Savannah and Charleston---know that water depth of at least 50 feet is necessary to accommodate the ships that will soon be able to pass through the Panama Canal’s new, larger locks. JAXPORT leaders and representatives from the city, state and region are actively seeking authorization and funding for this critical deepening.

With the completion of a 50 foot deepening project, Jacksonville will be vaulted into the top tier of U.S. ports and poised to become the third largest port on the East Coast, making Jacksonville the true center of transportation and logistics for the Southeastern United States.

Major global shipping corporations who have already chosen Jacksonville as their home hub for U.S. East Coast operations include Mitsui O.S.K. Lines’ (MOL) new TraPac Container Terminal, Hyundai Merchant Marine and APL. JAXPORT is currently in the process of preparing to build another new terminal for Hanjin Shipping of Korea set to open in 2013. The Hanjin Container Terminal will attract global shippers Hanjin, K-Line, COSCO and Yang Ming. French shipping giant CMA-CGM currently brings cargo through APM’s terminal at JAXPORT’s Blount Island facility.

Join Cornerstone's Sales Mission to Atlanta
Cornerstone is looking beyond the global recession and taking action. We are organizing a sales mission to Atlanta in December to identify new business prospects and build on existing relationships. We will meet with corporate executives, site consultants and commercial and industrial real estate brokers. Atlanta companies, consultants and brokers have been the source of many relocations and expansions over the last decade and we want to ensure that we continue that trend.

We are proactively reaching out and engaging corporate executives from Atlanta-based companies that fall within our targeted industries and site consultants and real estate brokers with the potential to bring deals to Northeast Florida. We have a few spots left for Cornerstone investors to join us on this sales mission. Visit www.ExpandInJax.com to register for the trip.

Speaker-Designate, Florida House of Representatives to Speak at Cornerstone Luncheon
The Cornerstone Regional Development Partnership is excited to announce the Honorable Dean Cannon, Speaker-Designate of the Florida House of Representatives, as the featured speaker of the fourth quarter Cornerstone Luncheon. Mark your calendars for Tuesday, November 24, at the Hyatt Regency Jacksonville Riverfront, to hear Cannon discuss "Building Momentum for Florida’s Future," with a focus on how reducing the regulatory and tax burdens on Florida businesses will strengthen our business environment.

Ticket prices for this event are - Cornerstone Investors: $40 Per Person/$400 Corporate Table of 10; Chamber Members: $55 Per Person/$550 Corporate Table of 10; Non-Chamber Members: $65 Per Person/$650 Corporate Table of 10. Tickets are available by calling (904) 366-6600, ext. 7601.

New Program Gives Jacksonville Another Economic Development Tool
Jacksonville is now able to take advantage of a new program, the Recovery Zone (RZ) bond program, created under the American Recovery and Reinvestment Act (ARRA). The purpose of the Recovery Zone bond program is to promote job creation and investment within areas that have significant poverty, unemployment, rate of home foreclosures or general distress. Jacksonville has designated The Enterprise Zone, Empowerment Zone, Community Redevelopment Areas and Cecil Field as Jacksonville's RZ’s.

Designation of an RZ will allow the City of Jacksonville and the State of Florida to issue RZ Facility Bonds and RZ Economic Development Bonds for private and public projects that promote job creation and economic recovery. RZ Bonds must be issued by January 1, 2011. Interested parties are encouraged to contact Lindsey Ballas, JEDC Business Development Chief, at (904) 630-2940 or lballas@coj.net. For more information, visit www.ExpandInJax.com.

Cornerstone to Host Atlantic Way Expo
In June a delegation from Jacksonville, which included its partners in Clay and Nassau counties and the Jacksonville Economic Development Commission, visited the Atlantic Way, Western Ireland’s premier business organization to continue to develop closer relationships between our two regions. During the Cornerstone visit a number of high level meetings and presentations were made and as a result, three companies are currently considering a Jacksonville/Northeast Florida location and another company has already established its U.S. operations in Jacksonville.

It is now Jacksonville's turn to show our hospitality. Cornerstone is hosting a delegation of our partners from Atlantic Way November 17 - 18. They will be showcasing their companies to business and community leaders across Northeast Florida. The Expo, held at the Omni Hotel on the morning of November 17 from 8:45 to 11:30 a.m., will provide Jacksonville companies the opportunity to meet with Irish companies in the advanced manufacturing, aviation, finance, IT, life sciences and logistics industries. Representatives from the Irish tourism industry will also be part of the delegation.

If you are interested in participating in this Expo please contact Anna Bryan at anna.bryan@jacksonvillechamber.org.

ULI Presents: Emerging Trends in Real Estate 2010
ULI North Florida and Cornerstone are excited to present the annual Emerging Trends Conference Thursday, November 19, at The Omni Jacksonville, from 5 to 7:30 p.m. This lively discussion on real estate trends in retail, capital markets, banking and more for 2010, will feature keynote speaker Chuck DiRocco, managing director, Industry Trends & Analysis, Urban Land Institute.

Emerging Trends in Real Estate 2010, undertaken jointly by ULI and PriceWaterhouseCoopers, provides an outlook on U.S. investment and development trends, real estate finance and capital markets, property sectors, metropolitan areas, and other real estate issues. Other speakers include Peter Rummell, Rummell Company; Ben Carter, Carter Development; Scott Keith, city president, BB&T; and Jerry Mallot, president, Cornerstone. The cost to attend is $40. For more information, contact ULI North Florida District Council at (904) 486-8256.

What Comes after Reality Check First Coast? County Checks!
On May 21, 2009, Reality Check First Coast brought nearly 300 leaders from the public, private and nonprofit sectors together in groups to discuss, analyze and develop growth scenarios for the 1.6 million new people and 650,000 new jobs expected to be added to our region by 2060. During October and November, similar regional visioning exercises will be conducted in each of the seven counties of the First Coast region. The results of these sessions will be used to guide the Region First 2060 initiative. To register for a County Check, go to the registration page.

Cornerstone Gets Linkedin
Stay connected to news, events and discussions through the new Cornerstone Linkedin sub-group of the Jacksonville Regional Chamber of Commerce. To join our group today sign in to Linkedin and search for the Cornerstone Regional Development Partnership Group.

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
Where the Future Leads®