Panama City commissioners decided Tuesday night to withdraw completely from the venture that was once known as "Project Nemo".

Commissioners voted Tuesday to pull the funding they had set aside to buy property at the corner of MLK Boulevard and Highway 231 to lease to a plumbing fixtures manufacturer.

When the company backed-out several weeks ago, the city decided to hold-onto its option hoping to attract another business.

But Tuesday night commissioners changed their minds and voted to return the one-point-six million dollars to the city's Community Redevelopment Agency fund.

The land is now back in the hands of the realtor.

That manufacturer, Coast Wet, cited delays in putting the land deal together as one of the reason to back out.

Coast Wet President Robert Easter is expanding his current operations in the Panama City Beach commerce park, which could create as many as 200-new local jobs.