The Heart of Progress in South Florida
Business Development Board of Palm Beach County / October 11, 2017
Right now, the eyes of the world are on Palm Beach. With the new focus on Mar-a-Lago, news reports are showcasing this beautiful area graced with palm trees and surrounded by the ocean and the Intracoastal Waterway. Amongst the natural beauty of our area, Palm Beach County finds itself as the host to major national and international discussions.
What’s most exciting about this region, though, is happening beyond the television news cameras. It’s a golden era as Palm Beach County is emerging as one of the most desirable places to live, raise a family, and start and build a business. During the past five years, the BDB has assisted companies that have created more than 13,000 direct jobs with average salaries greater than $68,000, resulting in more than $627 million in capital investment to Palm Beach County and an economic impact that exceeds $6.95 billion.
Our business-friendly tax structure, diversity, proximity to a major international airport and executive airports, access to art and culture, and desirable lifestyle, are attracting companies in life sciences, technology, aviation, aerospace and engineering, business and financial services, corporate headquarters, and distribution and logistics, all growth sectors in our nation’s economy.
So many regions of the country are competing for economic development, and it’s critical that we continue to reward job-creation with incentives that ensure our citizens’ economic well-being. But what makes Palm Beach County so special goes beyond the obvious.
The transformation that is happening in Palm Beach County is no fluke; it’s a result of hard work and, most important, a shared vision for our future. Environments where businesses and jobs can grow are being carefully created and nurtured behind the scenes, by partnership and collaboration among key business, government and educations leaders.
The kind of progress and job growth we’ve achieved takes a true desire to make things better and improve lives. Simply put, it takes heart. When university presidents, elementary and middle school leaders, research organizations and companies join together with the local government and community groups, amazing things happen.
For example, the Business Development Board has created Task Forces to focus on the industries that we want to attract. These Task Forces include representatives of the entire business and community ecosystem, all working in concert to build an environment where businesses can thrive.
Our Life Sciences Advisory Council is composed of research organizations, universities, companies, investors, government officials and Palm Beach County companies — all coming together to create a bench to bedside ecosystem to nurture young companies, expand existing companies, foster entrepreneurs and develop a skilled workforce.
They are gathering with a purpose – to attract and support businesses that will transform ideas into world-changing technologies. Students are trained for the real world; companies grow; research is conducted; young spinoffs are mentored and paired with venture capital; existing companies are attracted by the entrepreneurial environment. Similar groups are working to create a fertile ground where technology, aerospace and financial services companies will thrive.
The Palm Beaches have signaled to the world that we are open to innovation and endless potential. Relocating companies pick up on our sense of purpose and the entire community’s dedication to helping their businesses thrive.
Chris Jamroz, president and COO of GardaWorld Cash Services in Boca Raton, which moved to Palm Beach County during 2011, describes the power of our partnerships, saying “What captivated our hearts was the cohesive approach of the state, county and cities,” in working together – and with all our local stakeholders – to ensure that we were doing all we could do ensure that this is the best possible place for the company to put down roots.
Palm Beach County stands out with a powerful shared vision of the future. By working together, we are attracting new business investment, helping our local companies grow, diversifying our economy, and creating new jobs and career opportunities for Palm Beach County residents.