Panama City has a wide range of sites that generally consist of three bands of stuff lieing on the bottom.
The outermost - Stage I, Accokeek, Two Tugs, Grey Ghost, Bridge Spans to name a few are 12 miles out and average 100 feet to the sand. Some a little more some a little less. The structure itself also has relief making a slightly shallower dive possible.
The middle - USS Strength, Black Bart, Quonset Hut, Hovercraft, Bridge Spans, again to name a few average five miles out and the sand is about 75 feet with the top of the Bart and the bridgespans rising to about 50 feet.
The innermost - barges, bridge rubble, Stage II, to name a few are anywhere from 40 to 50 feet.
There is a wide range of marine life in the waters off PC and you'll see something different every dive. We all came back from Bonaire after searching the bottom for Frogfishes and Sea Horses and found one of each in one picture at Bridge Span 14.
The visibility is not as nice as tropical locations but the stuff you will see is amazingly versitile and interesting.
There is always the St Andrews jetties and the Panhandle Springs which are about a 45 minute drive. One very personable bunch of folks are Debbie and Sonja at Divers Den
http://www.diversdenonline.com/
Bring your dive gear and enjoy - BTW if you intend on diving at the jetties or Morrison Spring bring your flag.