Craig,
You also need to consider return air when you vent outside. It would be best to have an opening (door, window, whatever) on the other end of the shop so you don't draw in dusty air and so you also stir the air in the shop. You want the opening large enough that you don't create a strong, annoying breeze. If you have an open flame device like a gas water heater make sure you don't create a negative pressure that could draw in carbon monoxide.
bababrown