Daytona Beach / Florida / United States
Consolidated-Tomoka Land was founded in 1902 in Jacksonville, Fla. It began as Consolidated Naval Stores Company, a timber-based company, specializing in harvesting gum converted into turpentine pitch and rosin from long leaf yellow pine for the maintenance of wooden ships. It became the largest naval stores factor in the world and initially owned more than one million acres of Florida forest. The company pioneered in pine timber conservation by improving turpentine extraction methods. Over the years, it expanded into Florida cattle ranching and citrus production in Highlands County, Fla. One of the company s major achievements in recent years was the relocation of the Ladies Professional Golf Association national headquarters to company lands in Daytona Beach in 1989. The company maintains its corporate office in Daytona Beach, and its common stock is traded on the American Stock Exchange under the symbol CTO.
