Economic yearbook 2011
Florida's Biggest Private Landowners
The 10 — which own about a tenth of the state — will play a key role in Florida's future.
4 • Rayonier Timber
[Photo: Will Dickey]
Publicly held diversified real estate investment trust (NYSE-RYN)
Florida acres: 401,000
In addition to growing trees for pulp and lumber, Rayonier manufactures "performance fibers" from cellulose that are used around the world in products from LCD screens and pharmaceuticals to disposable diapers. In 2010, the company earned $214 million on performance fibers, $53 million on real estate and $33 million on timber.
President and CEO Lee Thomas says the company's long-term plans in Florida are to focus on growing trees and manufacturing performance fibers. But Rayonier will sell land through real estate subsidiary TerraPointe when values for residential and commercial development outweigh those for timber. Its holdings include 200,000 acres with high-value potential along the coastal Interstate 95 corridor between Savannah, Ga., and Daytona Beach.