Florida State University Announces Aerospace Research and Innovation Facility at The St. Joe Company's VentureCrossings® Enterprise Centre

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Florida State University Announces Aerospace Research and Innovation Facility at The St. Joe Company's VentureCrossings® Enterprise Centre

2026-11-04 05:21 Last Updated At：05:40

PANAMA CITY BEACH, Fla.--(BUSINESS WIRE)--Nov 3, 2026--

Florida State University (“FSU”), a Tier-1 research university, announced today the development of an aerospace research and advanced manufacturing facility within The St. Joe Company’s (NYSE: JOE) (“St. Joe” or the “Company”) VentureCrossings Enterprise Centre in Panama City, Florida. Strategically positioned near Northwest Florida Beaches International Airport, the new facility will expand FSU’s capacity for aerospace research, testing and advanced manufacturing within the Institute for Strategic Partnerships, Innovation, Research and Education (“InSPIRE”) while supporting workforce development and economic growth throughout Northwest Florida.

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“This project represents an important investment in Northwest Florida's future. By bringing together university research, advanced manufacturing, and industry partners, FSU is helping to create opportunities for innovation, economic growth, and high paying jobs in our region,” said Jorge Gonzalez, St. Joe President, Chief Executive Officer and Chairman of the Board. “Working with institutions like FSU, we seek to help create opportunities that attract talent to our area, support new businesses and contribute to the continued growth of Northwest Florida. These investments strengthen the communities we serve and complement our long-term plans for the region.”

William Brock, St. Joe Vice President of Commercial Real Estate added, “We are excited to welcome Florida State University to VentureCrossings Enterprise Centre. This project is a significant addition to our current mix of businesses and further demonstrates the potential of this strategically located commercial hub near Northwest Florida Beaches International Airport. We believe FSU’s presence will complement existing and future development while creating opportunities for continued economic growth in the area.”

Construction began Monday on the first phase of the project, which will include centralized advanced manufacturing and aerospace testing facilities, along with office space. Future phases are planned to include a hypersonic wind tunnel for research into high-speed flight technologies with national defense applications. In addition to St. Joe’s land donation, the initiative is supported by a $98.4 million grant from Triumph Gulf Coast. FSU has also committed an additional $65 million over 10 years and has pledged to secure more than $235 million in grant funding.

“This is an exciting milestone for Florida State University and for Northwest Florida,” said Richard McCullough, FSU President. “InSPIRE will build on our strengths in aerospace research and advanced manufacturing while creating new opportunities for innovation, industry partnerships and high-paying jobs. We’re grateful to The St. Joe Company for donating this land and to Triumph Gulf Coast for helping make this project possible.”

The new FSU project is part of St. Joe’s continued investment and development in the area surrounding Northwest Florida Beaches International Airport and along the State Road 79 corridor. The corridor is experiencing growth across multiple sectors, including residential communities, commercial development, healthcare and recreation. Among the significant projects underway is the FSU Health hospital, which will expand access to healthcare services in the region.

“With substantial land holdings in Northwest Florida, we continue to pursue a long-term development strategy that supports the growth of the region through a combination of residential, commercial, hospitality and other complementary uses,” said Gonzalez. “Strategic partnerships and land contributions that help bring educational, healthcare and other essential institutions to the area are an important part of that approach, supporting the development of vibrant communities and creating opportunities for long-term value across the Company’s portfolio.”

For more information about FSU’s InSPIRE visit inspire.fsu.edu.

Important Notice Regarding Forward-Looking Statements

This press release contains “forward-looking statements,” within the meaning of Section 21E of the Securities Exchange Act of 1934, including statements regarding the new FSU facility’s impact on the economic growth and job creation along the State Road 79 corridor and throughout Northwest Florida, the construction timeline for the FSU facility, and the ability of the Company to successfully engage in strategic partnerships. 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, 2025 and subsequent current report filings, as well as any inability of the new FSU facility to facilitate economic growth and job creation in the Company’s region.

About The St. Joe Company

The St. Joe Company is a diversified Florida real estate development, asset management and operating company with real estate assets and operations in Northwest Florida. The Company intends to use existing assets for residential, hospitality and commercial ventures and has significant residential and commercial land-use entitlements. The Company actively seeks higher and better uses for its real estate assets through a range of development activities. More information about St. Joe can be found on its website at joe.com.

©2026 The St Joe Company. All Rights Reserved. “St. Joe ®,” “JOE ®,” the “Taking Flight” Design ®,” and “St. Joe (and Taking Flight Design) ® ” and “VentureCrossings ® ” are service marks of The St. Joe Company.

Democrats win in South Carolina and North Carolina as they aim to retake Senate

WASHINGTON (AP) — Democrat Annie Andrews has won an upset victory over Republican Darline Graham for a Senate seat in South Carolina, a sign that dissatisfaction with President Donald Trump has seeped into even some of the most conservative states.

Andrews’ victory is a defeat for Trump, who backed Graham despite doubts within his party, and it puts Democrats one seat closer to the four they need to retake control of the chamber. Democrats have also flipped a seat in North Carolina and won key races in Georgia and New Hampshire on Tuesday as they tried to recapture majorities in Congress and break Republicans’ unified hold on power in Washington.

Graham was appointed to the Senate in July after her brother, Republican Sen. Lindsey Graham, died unexpectedly, and she decided to run for a full term of her own. Andrews, a doctor, will be the first woman elected to the Senate from South Carolina. She’s the first Democrat to win a Senate seat in the state in more than 20 years.

Democrats who once saw the political map as an almost impossible lift are now hopeful that a Senate majority is within reach, even though their path runs through several more conservative states.

Democratic Sen. Jon Ossoff won reelection in Georgia, defeating Rep. Mike Collins and denying Republicans a seat they had once seen as a top pickup opportunity. Rep. Chris Pappas won a Senate race in New Hampshire, defeating former Sen. John Sununu to replace retiring Democratic Sen. Jeanne Shaheen.

Polls are still open in some states across the country as voters — angry over high prices and the war in Iran and concerned about government corruption — cast their ballots in midterm elections that will serve as a referendum on President Donald Trump’s second term.

The elections could drastically shift power in Washington. Democrats were cautiously optimistic as they watched Republicans spend the campaign’s final stretch pumping tens of millions of dollars into states and districts that Trump won handily two years ago. They're betting that discontent over Trump’s failure to stop inflation and perceptions that he's focused more on gilding the nation’s capital than easing their pain at the pump will turn the tide in their favor.

Republicans held out hope their money advantage would help stem the tide, but they were bracing to lose control of the U.S. House and fighting to hang onto the U.S. Senate — an outcome that seemed unlikely earlier this year, given a map widely seen as favoring their party.

Several Democratic senators easily won reelection, including Sens. Cory Booker in New Jersey, Ed Markey in Massachusetts and John Hickenlooper in Colorado. Democrat Juliana Stratton was elected to replace Democratic Sen. Dick Durbin.

On the Republican side, Sen. Ashley Moody won a special election in Florida to finish the term of Marco Rubio, who became Trump’s secretary of state in 2025. Wyoming Rep. Harriet Hageman won a Senate seat in Wyoming, replacing retiring Sen. Cynthia Lummis.

In the House, Democrat Jamie Ager beat Republican Jennifer Capps Balkcom in North Carolina to give the party its first House flip. Another Democratic flip came in New Jersey, where former Navy helicopter pilot Rebecca Bennett defeated Rep. Tom Kean, who missed four months of votes in Washington this year as he underwent treatment for depression, a diagnosis he did not disclose until his return.

Democrats need a net gain of four seats in the Senate to win the majority. They need three in the House.

More than 59 million people had already cast ballots before Tuesday, according to an Associated Press analysis, surpassing early-voter turnout from 2022.

Trump, whose party has struggled when he's not running to turn out the low-propensity voters who have fueled his victories, told voters to act as though he's on the ballot, even as many Republican candidates kept their distance.

Trump's aggressive campaign schedule had him visiting the reddest states, including Kansas, Mississippi and South Carolina, underscoring his party’s challenges.

On Tuesday, he declared in a Fox News Channel interview that “inflation is solved” — even though consumer prices rose 3.6% in September from a year earlier, the Commerce Department reported last week.

“I think the results are going to be better than you think,” Trump predicted.

The White House said he gathered in the evening with key members of his Cabinet and top political advisers for an East Room reception to watch the results come in.

Voters were sour heading into Tuesday, with the midterm electorate deeply unhappy with the country’s direction and pessimistic about the future, according to The AP Voter Poll.

Most said they feel frustrated, with about three-quarters saying they feel “angry” or “dissatisfied” with the country’s current trajectory. Dissatisfaction was particularly high in blue states, but even in red states, a majority of voters were at least “dissatisfied.”

The economy helped key Trump's White House comeback. But the poll found that three-quarters of voters say the economy is “not so good” or “poor." About 8 in 10 say inflation has caused a “severe” or “moderate” financial hardship for their households.

Government corruption was also a big issue with voters. Roughly half cited it and the cost of living as “crucial” to their vote for Congress — higher than immigration enforcement policies, the war in Iran and artificial intelligence data centers. About 6 in 10 voters said Trump prioritizes his own personal interests more than the country’s interests.

Despite their relative advantage on issues, the Democratic Party is not much more popular with voters than the Republicans. Just under half of voters have a “somewhat” or “strongly” favorable view of the Democratic Party, while about 4 in 10 view the GOP positively.

Republicans tried to buck historical precedent — a president’s party almost always loses seats during the midterms — with an aggressive redistricting effort aimed at creating a more favorable congressional map.

But in Florida, where Republicans hoped to pick up as many as four new seats, the plan looked to be falling short. Republicans moved Democratic Reps. Jared Moskowitz and Debbie Wasserman Schultz into the same district — only to have them run in different territories and win. Democratic Rep. Kathy Castor won in metro Tampa, while others were holding their own as early returns were being counted across Florida.

Other Trump choices could prove costly. In Texas, Trump worked to oust longtime incumbent Sen. John Cornyn in favor of scandal-plagued Attorney General Ken Paxton, setting the stage for an expensive race against Democratic nominee James Talarico, who Democrats hope may help them finally flip the state.

In North Carolina, Sen. Thom Tillis retired after clashing with Trump. Then Whatley, Trump's chosen replacement, struggled to gain traction against Cooper.

Other key Senate battlegrounds include Ohio, where Democratic former Sen. Sherrod Brown is challenging Republican Sen. Jon Husted, and Alaska, where the Trump administration filed a lawsuit to block certification of Senate results if Republican incumbent Dan Sullivan loses the race, citing the presence of a second candidate named Dan Sullivan on the ballot.

Republicans hope they can hold seats in Iowa, Kansas and Maine and pick up Michigan, where Mike Rogers faces progressive Abdul El-Sayed — one of a crop of left-wing candidates who prevailed in Democratic primaries. El-Sayed's former primary opponent, Haley Stevens, upended the race by endorsing Rogers, renewing focus on tensions over Israel and the party's direction.

In the House, Republicans are trying to hang on to their narrow majority, as Democrats aim to flip seats in states Trump repeatedly carried, from Florida to Texas to Iowa.

Beyond Washington, 36 states are electing governors. In early results, Democrats Josh Shapiro in Pennsylvania, JB Pritzker in Illinois, Wes Moore in Maryland, Maura Healey in Massachusetts and Kathy Hochul in New York all won reelection.

Democrat Keisha Lance Bottoms of Georgia will be the first Black female governor of any state. In neighboring Florida, Byron Donalds became the first Black Republican to be elected governor in the nation.

The results will shape the final two years of Trump’s second term. The Republican-controlled Congress acted as a rubber stamp to much of his agenda. While Trump has proven adept at steamrolling efforts to rein him in, Democrats taking control of even one chamber would open the floodgates to investigations and possible impeachments. Defense Secretary Pete Hegseth and tech titan Elon Musk, a former top Trump adviser, are among possible targets.

House Democratic Leader Hakeem Jeffries of New York, in line to make history as the nation’s first Black speaker of the House if his party sweeps to power, has outlined a 100-day agenda focused on lowering the cost of living and aggressively overseeing the Trump administration.

An especially strong showing for Democrats could boost the party's large crop of potential presidential candidates. It could also complicate the paths of Vice President JD Vance and other Republicans who may be looking to turn their loyalty to Trump into momentum.

Associated Press journalists Linley Sanders, Aaron Kessler and Ali Swenson in Washington; Cody Jackson in Palm Beach Gardens, Fla.; and Allen Breed in Raleigh, N.C., contributed.