Entrepreneurial Ecosystem | PBC’s Economy Picks Up Steam | Women Leading the Way
PA L M B E AC H C O U N T Y
A Quarterly Economic Development Publication
Unemployment Down to 8.8% Local Companies NOW Hiring.
Spring 2012
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While others “go for broke,” LEADERS know when to play it safe. LEADERS know when to manage risk. That’s why Donald Trump and other business leaders turn to Richard Bernstein for insurance advice. Richard is a master of risk management – a leader in the highly technical field of insurance.
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Enhancing Palm Beach County’s Entrepreneurial Ecosystem Entrepreneurs are recruiting skilled employees, attracting capital and reaching out to new markets.
Palm Beach County’s Economy Picks Up Steam Palm Beach County’s Section 108 Loan Program ON THE COVER (LEFT TO RIGHT): Fabiola Brumley, Bank of America SE Business Banking Regional Executive & Market President for Palm Beach County Craig Grant, PNC Regional President FL
John Duffy, CEO 3Cinteractive
Palm Beach County financing program for businesses seeking to locate or expand.
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News & Events
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Palm Beach Strategic Forum, Palm Beach County to Host Global Leaders at Six Pillars™
Women Leading the Way Women who are making their mark in business.
Dr. Marc A. Ronert, Image Skincare Clinical Director Image International Europe
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Regional Profile: North County Corporate headquarters, research institutions, North Palm Beach County is an economic powerhouse.
Photography by Michael Price
Showing Off: Nova Southeastern University at the new Palm Beach Gardens Center.
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CONTENTS
Palm Beach County’s economic recovery appears to be picking up steam.
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Welcome from the President The Business Development Board of Palm Beach County is proud to present you with the first issue of our brand new quarterly magazine, Palm Beach County Business. The new magazine offers an overview of important and timely economic development news and local business information. In this edition, you’ll learn about the growing movement underway that aims at enhancing the area’s entrepreneurial ecosystem as well as initiatives, business leaders, and events that are shaping our area’s advantageous business environment. I’m delighted to share with you that the first half of the BDB’s 2011 – 2012 fiscal year has proven to be very productive. During this time, the BDB has facilitated 14 projects yielding 1,060 new and retained jobs, and a direct investment of more than $95 million. These numbers reflect the positive trend that is taking shape in Florida where, according to the South Florida Business Journal, nearly one in five small- and midsizebusiness owners plan to hire full-time employees during the next six months. Our county’s success is based on a collaborative relationship with Palm Beach County Board of Commissioners, Enterprise Florida, Workforce Alliance, chambers of commerce, cities, Economic Council, and many others including significant investments from our private partners notably, NextEra, Workforce Alliance, Florida Crystals, and Suffolk Construction. The support we receive from the public and private sector – makes certain that we are able to meet and exceed our economic development goals.
As we continue to further the growth of Palm Beach County’s diverse economy, please watch for information about our upcoming events and other opportunities. Exciting things are happening in Palm Beach County!
Kelly Smallridge President and CEO
Business Development Board of Palm Beach County, Inc. 310 Evernia Street | West Palm Beach, FL 33401 (561) 835-1008 | www.bdb.org Palm Beach County’s Economic Development Resource
published by » Passport Publications & Media Corporation
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ENHANCING
Palm Beach County’s
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Entrepreneurial Ecosystem With its affluent population, supportive business climate, and great quality of life, Palm Beach County is a favored home for successful entrepreneurs of all ages. In sectors like life sciences, aviation, digital communications, and business services, entrepreneurs are recruiting skilled employees, attracting capital and reaching out to new markets. Now, there’s a growing movement underway that aims at enhancing Palm Beach County’s entrepreneurial ecosystem through networking, education and greater collaboration in the public and private sectors. Initiatives like the Six Pillars community strategic plan and events like Entrepreneurship Week (see related articles) are designed to find solutions to key issues and foster business growth. “With our service-based economy, being an entre-preneur is a great path to success,” says Will Corrente, founding director of Corrente Consulting International Inc. (CCI). He moved to Palm Beach County from New York a decade ago and has no plans to go back. “I love our area’s lifestyle. Whether you enjoy boating, golf or equestrian sports, you can enjoy your life at the same time you’re working hard. You don’t have to be in New York or Chicago any more to make it big.” Will Corrente founder, of Corrente Consulting International Inc.
That entrepreneurial spirit is being supported by the area’s colleges and universities, including Palm Beach State College, Lynn University, Nova Southeastern University, Florida Atlantic University and Northwood University. “These schools are making a big push into entrepreneurship programs, and that’s important,” Corrente says. “We need to have students stay in South Florida and pursue opportunities on their own.” Corporate attorney Oren Tasini, a partner at Haile, Shaw & Pfaffenberger, P.A. in North Palm Beach works closely with area startups and mature companies. “Based on our work, there are some common themes and challenges for entrepreneurs,” he says. On the plus side, Florida is a low-tax state, and the cost of doing business in Palm Beach County is less than in many other metropolitan areas. “The attitude of government here is more probusiness than it was 20 years ago,” he adds. The main challenges are access to capital and recruiting executives and professionals with the right skills, especially in fields related to the sciences and technology. “Because of the size of Palm Beach County, it can also be tough for like-minded people to meet regularly,” Tasini adds. “Through the Business Development Board, we want to foster more industry-wide conversations and forums on topics like finding investors. We believe that greater collaboration can help everyone.” Tasini and Jeff Perlman of Delray Brand Group chair the BDB’s Entrepreneur task force. The BDB will host a lunch on June 26 at the Palm Beach County Convention Center to “Celebrate Entrepreneurship in this county.”
Achieving Entrepreneurial Success Charles Biondo worked at Pratt & Whitney for 17 years before a 1998 corporate downsizing led him to strike out on his own. Together with several partners, he founded Power Systems Mfg., (PSM), making parts for the power generation industry. “It was an interesting time,” says Biondo. “There were a number of smaller engineering companies started at that time by entrepreneurs who didn’t want to move up north.” Since then, the 25-person company has grown steadily and now has more than 300 employees based in Jupiter. Since March 2007, it’s a wholly owned subsidiary of Alstom, providing technologically
Charles Biondo, founder of Power Systems Manufacturing
advanced aftermarket gas turbine components, reconditioning and field services, and long term agreements (LTAs) to the worldwide power generation industry. “Following the Alstom acquisition we built a new repair shop in Jupiter and implemented a global field service organization,” adds Biondo, who is Vice President, Shop & Reconditioning Operations. “Now, the entrepreneurial startup is part of a large multinational company. PSM is also doing it’s part in strengthening Palm Beach County’s entrepreneurial ecosystem. The company is active in the Northern Palm Beach County Chamber of Commerce and the Business Development Board’s aerospace task force. “We’re also getting our human resources department involved with Palm Beach State College, Florida Atlantic University, and other local schools to align their curriculums with our industry needs.” Another successful entrepreneur is Mark Llano, president/CEO, Source One Distributors, Inc. in Wellington. He says the reasons why Palm Beach County is attractive to new and emerging businesses include pro-business legislation and support, strong area business organizations, and banking organizations that go out of their way to help local companies. “Source One would not be around without the support of these organizations,” Llano says. “Whether it was paperwork, financing, networking or marketing, all of them have had a hand in our success.” Llano also plays a leading role in business organizations like the Palm Beach Aerospace and Defense Roundtable, South Florida District Office Small Business Roundtable, Florida State Veterans Advisory Committee, and the Florida Small Business Roundtable. On a personal level, Llano says Palm Beach County is the perfect place to raise a family. “We enjoy everything from baseball to racing to deep sea fishing,” he says. “We really do live in paradise here!” The BDB will host a lunch on June 26 at the Palm Beach County Convention Center to "Celebrate Entrepreneurship" in the county.
Entrepreneur Week Coming to Palm Beach County W
ill Corrente is looking forward to Palm Beach County’s first Entrepreneur Week in December. A young entrepreneur himself, Corrente says he benefitted from talking to c-level executives, venture capitalists and aspiring business owners at the first such event in 2010 in New York City. Since then Gary Whitehill, founder of Entrepreneur Week, has taken the educational, skill-building and networking concept worldwide. Now, Corrente is working with other Palm Beach County leaders to create a landmark event here. “With all business leaders who spend part of their time here, along with the wealth of capital in our county, there’s no reason why Palm Beach County can’t be a more fertile area for entrepreneurs,” says Corrente, founding director of Corrente Consulting International Inc. Entrepreneur Week is a volunteer program that includes
keynote speakers, moderated panels and breakout sessions. For example, young entrepreneurs will present their business plans to a professional audience to see if there is ENTREPRENEUR interest in funding. They will practice their “pitches” and get feedback from audience members. “We’ve seen many success stories already,” Corrente adds. “One company that presented its case in New York was able to gain funding and now operates in 26 states.” Most importantly, Corrente says W E E K Entrepreneur Week generates excitement about this vital aspect of the economy. “We want to open people’s eyes to the opportunities that are out there, and help entrepreneurs to accelerate their growth.”
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Palm Beach County’s Economy Picks Up Steam
Facilitating Job-Creating Projects
After adding new jobs in 2011, Palm Beach County’s economic recovery appears to be picking up steam. Unemployment rates are edging downward in the county, the state and the nation, according to labor statistics released in mid-March, In analyzing the job-related numbers, William Stronge, senior fellow at the Economic Development Research Institute in West Palm Beach and professor emeritus at Florida Atlantic University, says Palm Beach County gained about 2,000 non-farm jobs in 2011, reaching an employment level of 503,600 last December. “We have been adding jobs since the end of 2010, although not necessarily every month,” he says. “Just about every industry, even construction and trades, has seen some growth.” Although the statistics indicate job growth slowed in the fourth quarter of 2011, Stronge says that finding, which is based on employer surveys, may be an anomaly. “It was leisure and hospitality that showed a dip,” he adds. “But I haven’t seen anything indicating a slowdown in that sector. There aren’t any golf courses closing and the arts and entertainment sectors seem to be doing well.” But so far, at any rate, the economic numbers for 2012 look good for Palm Beach County. “We added about 3,700 new jobs in January – about 1,700 of them in the wholesale and retail trades,” he says.
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Since the first quarter is Palm Beach County’s traditional “season,” Strong says its unlikely that pace of job growth will be sustained in the coming months. “But I am confident that we will definitely be adding jobs,” he says, noting that consumer spending is on the rebound, helping restaurants, retailers and the tourism sector. “We’re also seeing growth in areas like landscaping, security and waste services,” he adds. “When the construction industry went down, those types of jobs also took a big hit. Now, it seems they are starting to recover.”
Since October 1, 2011, the BDB, in partnership with Palm Beach County, has facilitated 14 relocation and expansion projects. These companies will create/retain 1,060 jobs and spend more than $95 million in direct investment on their move or expansion to this area.
Company Name
Retained Jobs
New Jobs
Location
Capital Investment
Convergent
65
50
Boca Raton
N/A
America’s Natural Caffeine
N/A
75
Riviera Beach
$25,000,000
Image Skincare
40
30
Lantana
$4,500,000
Signet Diagnostic
14
30
Riviera Beach
$400,000
Lockheed Martin
N/A
50
Riviera Beach
$9,600,000
Mobile Help
50
50
Boca Raton
N/A
Lyf Holdings, Inc.
N/A
91
West Palm Beach
$1,945,000
ALDI, Inc.
N/A
100
Royal Palm Beach
$50,000,000
Radical Cosmetics, LLC
N/A
40
Lake Worth
$800,000
Smart for Life
50
25
Riviera Beach
$3,000,000
Locus Traxx
50
110
Jupiter
N/A
PC Professor
N/A
20
West Palm Beach
N/A
Liquid Cargo
N/A
20
Riviera Beach
N/A
Modernizing Medicine
60
40
Boca Raton
N/A
Total
329
731
$95,545,000
Palm Beach County’s Section 108 Loan Program – Helping Businesses Grow By Sherry Howard, Deputy Director Palm Beach County Department of Economic Sustainability
Economic recovery and job creation – these are among the elements essential to maintaining a sustainable community and are high on Palm Beach County’s list of priorities. To address these priorities, the county has implemented assistance programs to help businesses grow. One of the most effective programs to date has been the Section 108 Loan Program, funded by the U.S. Department of Housing and Urban Development (HUD). A Section 108 loan is federally guaranteed and issued by HUD. Palm Beach County’s program is administered by the Department of Economic Sustainability (DES). Approved in Palm Beach County by its Board of County Commissioners, the program provides gap financing to businesses seeking to locate or expand in the county in order to create new jobs and help revitalize communities. It supports and stimulates business development and investment by the private sector, and gives priority to businesses in distressed areas. To date, approximately $14 million in loans have been made, generating 828 jobs and a five-year Economic Sustainability Impact of $602 million. An additional $5.5 million in loans are in process and are projected to generate 375 jobs and
a five-year Economic Sustainability Impact of $119 million. Palm Beach County is encouraged by these results and the successful public-private partnerships that have formed, while leveraging millions of private investment dollars through the program. The county’s largest Section 108 loan made thus far was for $6 million to Oxygen Development LLC, a world-class cosmetics, skin and hair care, and over-the-counter drug product manufacturer that is soon to complete construction of its new $23 million facility in the Village of Palm Springs. This project, located in the county’s Urban Redevelopment Area, will provide 400 new jobs. Other Section 108 Loan-assisted businesses include Baron Sign Manufacturing on West 13th Street in Riviera Beach, Concrete Services in Palm Springs, Glades Plaza Enterprises in Belle Glade, and Circle S Pharmacy in Pahokee. In 2011, HUD recognized Palm Beach County in nationwide training materials for its best practices utilized in the administration of the Section 108 Loan Program. For further information, please contact Sherry Howard at DES, (561) 233-3653.
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News Events Global Leaders Provide Insights at Palm Beach Strategic Forum Noting the importance of the global economy to Florida, Governor Rick Scott highlighted the state’s business advantages in an April 16 luncheon address at the second annual Palm Beach Strategic Forum. “We have to build relationships all over the world,” Scott said. “We are a leading exporter of goods and services, and we have a supportive environment for businesses to flourish.” Scott was among the 60 distinguished speakers and 1,000 participants in the two-day forum, “Competing in a World of Emerged Economies,” at the Palm Beach County Convention Center. For area companies, the forum provided information on global trends, insights into growth strategies and networking opportunities with international trade, finance and business leaders. “Our agenda reflects the increased influence of emerging markets in the global economy,” said forum chair William Berger, managing shareholder, Palm Beach County, Greenspoon Marder. In his opening remarks, Gil Rémillard, founding chairman, International Economic Forum of the Americas, which organized the Palm Beach Strategic Forum, said, “There are powerful connections between Latin America and North America. We want to give you the opportunity to develop a better understanding of the current issues.” Mickey Levy, chief economist, Bank of America, noted that many emerging nations have focused on growing their exports to the developed world, while managing their own economies. “To compete in a changing world, governments must establish sound policies that are conducive to long-term growth. Businesses must implement forward-looking strategies based on global trends, and individuals must continually build their skills. Today, if you don’t look forward, you will fall behind.”
Craig Alexander, senior vice president and chief economist, TD Bank Group, pointed to the importance of structural reforms. “We need to remove barriers to investment and strengthen labor markets and education systems,” he said. “Our world is going through fundamental economic changes, and forums like this will be important for years to come.” Other speakers covered a wide range of international topics, from the economic strength of countries like Brazil and Uruguay to the impact of the 2014 opening of the wider Panama Canal on South Florida trade. One of the common themes was a call for strong leadership in the financial and economic sector. “People want good jobs all over the world,” said Shaukat Aziz, former prime minister of Pakistan. “That’s the solution to problems like terrorism, which stems from a feeling of desperation. We need leaders who recognize these issues and worry about the next generation – not the next election.” Closer to home, Mark Wilson, president, Florida Chamber of Commerce, said, “Young workers now are Governor Rick Scott going to areas that offer a high quality of life, and businesses are following the talent. That’s important to recognize because innovation ultimately comes down to people and being able to attract a skilled workforce.” Summing up the role of the host community, Kelly Smallridge, president and CEO, Business Development Board of Palm Beach County, said, “I am proud that Palm Beach County is the backdrop for these rich discussions of the global economy. Thanks to these world leaders for visiting our county, and thanks to our business leaders for your support of our international efforts.”
BDB Outreach Missions Expansion Management Roundtable
Palm Beach County’s Economic Development Resource
The Business Development Board’s recruitment missions are aimed at bringing new businesses to Palm Beach County. This year, the BDB is increasing its prospecting missions. The robust 2012 schedule included 12 visits:
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Vail, Colorado, March 26 - 29 Enterprise Florida Consultant Mission Dallas, Texas, April 24 - 25 CoreNet San Diego, California, April 29 - May 1 Enterprise Florida Consultant Mission Chicago, Illinois, May 16 - 17 Enterprise Florida Mission to Spain with Governor Scott Madrid, May 20 - 24 Area Development Consultants Forum Scottsdale, Arizona, May 30 - June 1
Bio International Convention
Boston, Massachusetts, June 18 - 21 Enterprise Florida Mission to Trinidad
& Tobago with Governor Scott Port of Spain, August 5 - 9 Enterprise Florida Consultant Mission Atlanta, Georgia, September 4 - 5 Enterprise Florida Consultant Mission New York, New York, October 2 - 3 National Business Aviation Association Orlando, Florida, October 20 - November 1 Enterprise Florida Mission to Columbia Bogota, December 2 - 6
Six Pillars™ Community Strategic Plan Taking Shape Palm Beach County’s public and private sectors need to establish common goals and work more closely together. But building a collaborative framework for the future is a difficult challenge because of the county’s large size and diversity, encompassing more than 40 municipalities and 20+ chambers of commerce. That was one of the key findings of an outside consultant who worked with the Economic Council of Palm Beach County and many other organizations in crafting the Six Pillars™ Community Strategic Plan. In late 2010, the economic council invited the Florida Chamber Foundation to present its Six Pillars™ framework as a strategic planning tool that would build upon Palm Beach County’s unique character and potential. “We know that our state’s economy cannot be sustained by the traditional industries like agriculture, tourism, and construction – we need to diversify Florida’s economic base,” says Jones, who co-chaired the planning with Nat Roberts, 2011 chair of the council and Florida Chamber Foundation Board member Bill Perry. Last October, the council unveiled the findings of a year-long collaborative process that involved more than 350 participants in more than a dozen meetings and continuous dialogue. “What is unique is the collaborative process in which leaders from business, government and civic organizations come together to reach consensus on shared goals,” Jones says. In fact, Palm Beach County was the state’s first large urban county to complete its strategic plan, which focuses on the six critical pillars determining Florida’s future: Talent supply and education Innovation and economic development
Infrastructure and growth leadership Business climate and competitiveness Civic and governance systems Quality of life and quality places Now, participating stakeholders are meeting in task forces, reviewing key issues, and assessing progress along a 2011-2015 timeline. Furthermore, a county or region that adopts the Six Pillars™ as the framework for developing and communicating their local strategic plans are designated a Six Pillars Community as part of the Six Pillars Communities™ program. In addition to the benefits of participating in a common agenda, the local voices become a chorus for change when their own strategic visions provide input to the crafting of the statewide strategic plan via the Six Pillars Caucus System. Each county or region that has formally adopted the Six Pillars framework will have the opportunity to appoint local representatives (aligned with the Six Pillars) to the Caucus System to ensure local strategic plans inform the statewide planning process. Kelly Smallridge, CEO & President of the Business Development Board of Palm Beach County, will serve on the Innovation and Economic Development Caucus as an ambassador for Palm Beach County to ensure their local Six Pillars efforts continue to inform the statewide strategic planning process.
Business Climate and Competitiveness: Owners and executives
making decisions about where they call home evaluate Palm Beach County’s attractiveness in respect to its competitiveness across a host of business climate factors. Vigilance in monitoring our position is critical to anticipating policy changes that secure our place among the most business-friendly climates in the world. Civic and Governance Systems: Even the most ardent supporters of free markets recognize the role of structures in place to deliver services, set rules that organize business and society, and provide vehicles for the public to engage, influence, and change the way society works. These include things like constitutional integrity, ethics and elections, redundancy, government spending and more. Quality of Life/Quality Places: A sense of place is an integral component of prosperity, as workers now select a preferred location first and then land the job. Palm Beach County’s future depends on the preservation or enhancement of a wide range of integrated elements that express factors like culture, health, safety, and comfort. For more information, go to www.economiccouncilpbc.org
The Six Pillars
Here is a summary of the Six Pillars in the Palm Beach County community strategic plan: Talent Supply and Education: Palm Beach County faces an emerging talent gap — a crisis in human capital that represents a vast and growing unmet need for a highly skilled and educated workforce. The time to build the county’s future workforce is now, and education and training must be its foundation. Innovation and Economic Development: Too often relegated to the academic realms of research institutions, innovation must be every Floridian’s business. Competitiveness and prosperity in the 21st century will be based on technology, knowledge and innovation. Transforming our existing business base is the key to retention and expansion. Infrastructure and Growth Leadership: This pillar underscores the fundamental contributions of transportation, energy, water and land use to a vibrant Palm Beach County economy. Investments in air and sea ports promise to capture the expected growth in international trade. Addressing congested and deteriorating roadways and railways will spur intra- and interstate commerce.
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WOMEN Palm Beach County has a large and growing roster of women who are making their mark in business, educational, research and professional circles. Here are profiles of four women who are leading the way.
Banking on the Future
Fabiola Brumley
Banking executive Fabiola Brumley became intrigued by the business world when she was in high school. “I participated in Junior Achievement and learned how to develop and sell a product, sell stock and make a profit,” she says. “That entrepreneurial spirit helped shape my career, which is all about helping companies succeed.” Today, as the Southeast Region Business Banking executive at Bank of America Merrill Lynch, Brumley uses her time, energy and experience to assess the needs of the community and make her company’s resources available to meet those needs. “I am so fortunate to be surrounded by a phenomenal business community and a great company with dynamic leaders who provide expertise, wisdom and insight,” says Brumley, who is the chair of the Business Development Board of Palm Beach County and an executive board member of the Economic Council of Palm Beach County. “In Palm Beach County we have talented women across all industry segments.”
A graduate of Florida Atlantic University, Brumley began her career in 1982, and has served as controller, chief financial officer, commercial lender, client manager, market manager and market executive for her bank. She has been market president for Palm Beach County since 2007, and is also responsible for the bank’s Business Banking segment in a nine-state area, from Maryland through Florida. In the community, Brumley’s long list of contributions includes serving as chair of the Palm Beach Black Business Investment Corporation and is the executive sponsor for the bank’s South Florida Chapter of LBGT and is past management advisor for Team Bank of America’s Diversity Network. Looking ahead, Brumley says the region’s economic recovery is getting stronger. “It feels like small businesses are growing again and employment opportunities are improving,” she says. “Florida is already a very friendly state for business, and everyone knows what a very special place Palm Beach is to live, work and play.”
Signs of Success As CEO of Baron Sign Manufacturing, Sandie Foland has combined innovative technology with a skilled workforce to provide clients with the right signage at the right time. “Signs are not commodities,” she says. “They must be created carefully, accurately and quickly.” With her husband Jerry, Foland co-founded Baron Sign Manufacturing in 1983. “We spent 12 years living in Italy, and I realized I wanted to get into business,” she says. “The timing was right, because computer technology was just emerging. I wasn’t afraid to charge $8,000 for a computer and $12,000 for the software on my credit card, because I knew we could make that money back.” Soon, real estate, development and construction clients were clamoring for Baron’s signs. Building owners and tenants replaced old hand-drawn signage with new computer-generated graphics. Under Foland’s leadership, Baron Sign Manufacturing continued to grow, and in 2006 moved into a new
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40,000-square-foot facility in Riviera Beach. Today, the 46-employee company produces signs for a wide array of public- and private-sector clients, including Miami-Dade’s Metrorail and Metromover stations. On the personal side, Foland is active in regional nonprofit cancer, heart and diabetes organizations, and stays in close touch with her daughter in St. Louis. As for the business, Foland is focusing on further diversifying Baron’s product lines. “We’re working on a new division that will retrofit older signs that have neon and florescent bulbs, with modern LED technology,” she says. “That will provide immediate savings to big buildings, developments, airports, hospitals and other clients.” Recently, Foland launched a new partnership with Seagull Industries, which provides training services for the disabled. “We are setting up an assembly process at their facilities, where their clients can do pieces of signs,” she says. “It’s very beneficial and can lead to other opportunities for them.”
Sandie Foland
Leading the Way Educating Future Leaders
Dr. Mary Jane Saunders
As president of Florida Atlantic University, Mary Jane Saunders, Ph.D., is educating the future leaders of Palm Beach County. She’s also guided FAU’s emergence as a major center of research, particularly in the fields of biomedicine, biotechnology, ocean engineering and marine science. “As far back as I can remember, I visualized myself working in some professional capacity, with a definite tilt toward the academic world,” Saunders says. “I come from a long line of teachers. Eventually, I earned three degrees in science because I am inquisitive by nature and I wanted to learn how to investigate natural phenomena and then pass on what I learned to students.” Born and raised in Worcester, Massachusetts, she is married to Dr. George Newkome, a distinguished polymer science and chemistry research professor. Prior to becoming FAU’s sixth president in 2010, she was provost and SVP for academic affairs at Cleveland State University. She was also a deputy division director of the National Science Foundation and director of the Institute of Biomolecular Science at the University of South Florida.
As FAU’s chief executive officer, Saunders oversees an institution with 29,000 students who attend campuses and sites in Boca Raton, Dania Beach, Davie, Fort Lauderdale, Jupiter, Port St. Lucie and Fort Pierce. “FAU is a very strong engine of economic development for Palm Beach County and all of South Florida,” Saunders says. “The university has an estimated economic impact of $4 billion, and our new football stadium is expected to generate more than $1.7 million in benefits to the local economy on game days.” Saunders adds that the biggest challenge facing Palm Beach County is the need to transform the region’s economy. “With the arrival of Scripps and Max Planck and the rapid development of FAU’s research capabilities, the stage has been set for this area’s emergence as a center of scientific discovery,” she says. Finally, Saunders believes that Palm Beach County offers an excellent business climate for women in business, industry and the professions. She says, “Judging by my experiences, women leaders are warmly welcomed and highly respected in this community.”
To Hollywood and the Stars Media entrepreneur Laurie Silvers can truly say she’s been to Hollywood and the stars. Back in 1988, she was co-founder of the SyFy channel and served as a top executive for six years. Today, she is an owner of Home Town Cable Plus, a telecommunications system providing TV, Internet, phone and alarm monitoring services in the City of Port St. Lucie; Treasure and Space Coast Broadcasting which operates five radio stations in Florida’s Treasure Coast; co-founder and president of Hollywood Media Corp. since its launch in 1993 and co-CEO of Hollywood.com, a major provider of entertainment news and information. “Palm Beach County is a magnificent place to live and raise a family,” Silvers says. She and her husband Mitchell Rubenstein have three children. “I’ve also built a lot of businesses here and believe the county has an excellent business climate for women.” Silvers practiced law in South Florida for 10
years, before making the jump into business. “I decided to make the switch after several years of representing owners of cable television and broadcast properties,” she says. “I understood the media industry and became excited about future growth in this area.” Since then, Silvers has created jobs through her businesses, and served as a volunteer mentor with the “Women of Tomorrow” program for at-risk high school girls. She is a board member for the Kravis Center for the Performing Arts, the University of Miami, the United Way Town of Palm Beach and board vice chair for WPBT Channel 2, the public broadcasting station for Miami. She was also the 2010 chair of the Economic Council of Palm Beach County. “I think our biggest challenge today is to attract large corporations to our county and provide them with talented local employees,” she says. “That’s also our biggest opportunity.”
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REGIONAL PROFILE:
North County Tiger Woods at the Honda Classic
Scripps Research Institute
With major corporate headquarters, world-renowned research institutions, a thriving manufacturing sector, beaches, shopping centers and some of the nation’s best golf courses, North Palm Beach County is an economic powerhouse. It’s also a region with readily available commercial land and a proposed new hospital – both of which could create new jobs in the future.
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Pratt & Whitney Rocketdyne
NextEra Energy
“We’ve seen a lot of development interest in two commercial parcels along Indiantown Road, where another parcel is slated for residential use,” says Andrew D. Lukasik, town manager, Jupiter. Lukasik said the two parcels, known as the Hawkeye and the DDR sites, can contribute to the long-term growth of the biotech sector, which is already supported by the Town of Jupiter’s biotechnology fund. The municipality is currently working on a 20-year development plan for the Hawkeye site with its owner. “We’re discussing uses of the site, including R&D and high-tech companies,” says Lukasik. “We are also looking at traffic mitigation plans, since maintaining mobility throughout the town is an important value.” Lukasik says a number of items are still being negotiated but its possible that an agreement could be reached in the next six months. As for the DDR site, the town already has a development agreement in place that calls for 16.6 acres that could be used for development, including technology companies, and 16.6 acres that would be maintained for conservation purposes. “We’re holding that plan in abeyance for now,” Lukasik says. “We don’t want to compete with private landowners, and we want to have the site available if it’s needed to secure a business that’s really important to our community.” Meanwhile, Tenet Healthcare has received approval from the Florida Agency for Health Care Administration to build a new academic medical center in Palm Beach Gardens at I-95 and Donald Ross Road in partnership with Scripps Florida and Florida Atlantic University (FAU). The $120 million hospital would have 80 beds in its initial phase, and create hundreds of new jobs, according to its supporters. Following the approval, Doug Bingham, EVP, The Scripps Research Institute, called the hospital “a critical component” in fulfilling institute’s vision of developing a bioscience cluster. However, both Jupiter Medical Center and HCA’s Columbia Hospital have challenged the state’s approval, saying there is no need for another hospital to serve the North County region. In addition, another leading biomedical research institute – Max Planck Florida – is planning to open its new 100,000-square-foot building in June. Now operating from temporary lab facilities, Max Planck’s permanent facility will be located near Scripps on the FAU Jupiter campus.
PGA National Resort & Spa
Florida Atlantic University
While biotechnology seems to generate the biggest headlines in North County, the region – generally defined as the eastern side of the county north of 45th Street – actually has a highly diverse economy that includes aviation/aerospace companies like Sikorsky, Pratt & Whitney Rocketdyne, and Lockheed Martin, as well as major manufactures and plenty of startup companies. West of Jupiter, Locus Traxx, a fast-growing company focused on food safety and security of food shipments, will expand its operations to a 60,000-square-foot facility at the Florida Research Park. Founded in 2005, Locus Traxx will grow from 50 to 160 employees by the end of this year. The company’s SmartTraxx monitoring system wirelessly reports the temperature, security and location of shipments on the road.
A Flow of New Investment North County has also attracted a large and growing cluster of corporate headquarters, including NextEra Energy (FPL), G4S, TBC Corporation (Tire Kingdom) and Rybovich Yachts. One newcomer is America’s Natural Caffeine (ANC), a Brazilian company, which plans to open a new manufacturing facility at the Port of Palm Beach in Riviera Beach in May. ANC will produce a natural caffeine food supplement derived from a Brazilian fruit called guarana. The supplement will be sold to the food and beverage, chemical, and pharmaceutical industries. Within the next three years, ANC expects to create 75 new jobs. Smart for Life®, a medical weight loss company with 50 employees, is consolidating its commercial bakery from Wellington and its administrative office from Boca Raton to a new facility in Riviera Beach. The larger location will accommodate an additional 25 employees to meet rising forecast demand. “As a result of our expansion capabilities, we will be able to increase our exports and our other contracts,” said founder, Dr. Sasson E Moulavi. Signet Diagnostic Corporation, a licensed medical laboratory and device developer founded in Palm Beach County in 1993, developed its Mediator Release Test (MRT®) in 2001 to allow physicians and dietitians to provide patient-specific diets. Its Lifestyle Eating and Performance Programs (LEAP®) are in clinical use by dietitians and physicians seeking
Sikorsky
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improved outcomes for irritable bowel, migraine, fibromyalgia, and other patients. A new fully automated MRTIII device is nearing product release and the Riviera Beach company is planning to expand its lab and production facility to accommodate increased demand. Lockheed Martin and Space Florida recently signed an agreement to advance the testing and production of a new autonomous underwater vehicle (AUV) known as Marlin™ in support of aerospace economic development in the state of Florida. Lockheed Martin will outfit the Marlin systems with sophisticated sensors and imaging equipment to conduct commercial underwater inspections. The systems are well suited for use in the oil and gas industry as a safe and cost-effective way to inspect underwater infrastructure and pipelines, especially after severe weather such as hurricanes. The Marlins will be built at Lockheed Martin’s Riviera Beach facility. “Lockheed Martin is committed to providing high technology jobs in Palm Beach County that help promote Florida as a place to foster innovation,” said Richard Holmberg, vice president of mission and unmanned systems at Lockheed Martin’s Mission Systems & Sensors business. “Our partnership with Space Florida for the Marlin AUV will help foster these job opportunities.”
Residential and Lifestyle Attractions On the residential side, the region’s three largest municipalities – Jupiter, Palm Beach Gardens and Riviera Beach – as well as its smaller communities have their own personalities and local ambiance. Recreational opportunities also abound, such as deep-sea fishing, boating on the Intracoastal and canoeing on the scenic Loxahatchee River. North County is also a preferred location for golfers with numerous championship courses. It’s the longtime home of PGA National, which hosts the annual Honda Classic, won by Rory McIlroy in March with a two-shot victory. “Over the last few years, we’ve had a $33 million annual economic impact on Palm Beach County,” says Ed McEnroe, tournament director, The Honda Classic. “Our attendance this year was up 45 percent, and we get tremendous corporate interest in our event.” With the region’s rich tradition and history in golf, it’s not surprising that many entrepreneurs and corporate executives find that North County’s climate “suits them to a T.”
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NSU shows off New Palm Beach Gardens Center
Nova Southeastern University (NSU) recently hosted an Education Expo to showcase its new Palm Beach Student Educational Center (SEC) in Palm Beach Gardens. The March 3 open house covered NSU’s bachelor’s, master’s, and doctoral degree programs along with an interactive workshop on brainbased learning. “This event provided a great opportunity to learn about the various education programs NSU offers at the Palm Beach Gardens location,” said George Dungee, director. “Prospective students were able to learn about our curriculum and see our state-of-the-art educational facility.” The new four-story, 75,000-square-foot facility at the intersection of I95 and Military Trail features 26 classrooms, including four labs, as well as a student lounge, fitness area, a pharmacy library and offices. It is equipped with video conferencing capabilities, computer labs, and wireless Internet connection. The center will be available to host community events and conferences. NSU’s Student Educational Center in Palm Beach currently has more than 1,400 students enrolled in numerous programs, including pharmacy, business,
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education, mental health counseling, and school psychology. Two new nursing programs, a Master’s in Family Nurse Practitioner and a Doctorate of Nursing Practice (DNP) program were added to the curriculum in January. “We know there is a high demand in our county for well-educated professionals,” said Kelly Smallridge, president and CEO of the Business Development Board of Palm Beach County when the center opened last September. “NSU’s Student Educational Center allows us to educate our residents and let them perform in high demand job categories such as nursing, pharmacy and business management and stay right here in Palm Beach County.” Nova Southeastern University is the eighth largest not-for-profit independent institution nationally with more than 28,000 students and the largest independent institution of higher education in Florida. NSU has been offering degree programs in Palm Beach County for more than 35 years.
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PALM BEACH COUNTY
EMPLOYERS
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WANTED!
Need a sharp intern this summer? Post summer internships to a free, online listing service. Summer University Career Connection Employment Services [SUCCESS] is a new service for Palm Beach County employers who need summer interns. If you have a summer internship position available, list it on SUCCESS, then wait for sharp candidates to apply.
Go to www.pbcalliance.com
315 South Dixie Highway, Suite 102 | West Palm Beach, FL 33401 Phone: (561) 340-1061 | Fax: (561) 340-1062
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Top CPA Firm And Committed Community Leader Alpern Rosenthal’s
West Palm Beach office has been serving the local business community for over 30 years, providing specialized industry expertise and services with a proactive, personal focus. Our entrepreneurial business professionals combine the insight and ideas of multiple disciplines to provide business solutions to a wide range of industries, including emerging business and technology, construction, real estate, manufacturing, energy, healthcare, public companies and not-for-profit industries. We have been recognized as one of the top firms in the area providing tax, auditing and business consulting expertise, as well as expertise in specialty service areas, such as estates and trusts, international taxation, business valuation, forensic accounting, financial planning, litigation support, real estate, construction and healthcare services. In addition, we are a founding member of The Leading Edge Alliance, the second largest international network of leading CPA firms, which allows us to serve clients doing business on national and international levels, while still emulating the feel of a personalized local firm.
“I feel that in order to truly be successful in both business and in life, you must contribute as much as you can to your community and to society.” — Martin Cass
Alpern Rosenthal has always recognized the importance of giving back to the community. We believe as a leader in the community we have the opportunity and duty to help build our community and help those less fortunate. Our team members are involved in leadership positions in many charitable organizations and endeavors, including, The Palm Beach County Library Foundation, The Education Foundation of Palm Beach County, Easter Seals, The American Lung Association, The American Cancer Society, The Cancer Alliance for Health and Hope, The Jewish Federation of Palm Beach County, and many other organizations.
In 2009, Martin Cass, managing director of Alpern Rosenthal’s West Palm Beach office, was awarded the “Let’s Do Something Giant” award by the South Florida Business Journal for his outstanding dedication to the community. He has also won numerous Key Partners Awards, as well as the recent honor of being named one of the South Florida Business Journal’s Ultimate CEO’s in Palm Beach County. Alpern Rosenthal is a community partner with Leadership Palm Beach County, and an investor partner with the Business Development Board of Palm Beach County. Since 2005, we have participated in a partnership with Bear Lakes Middle School. Over the years, we have raised money for the school and as well as for children in need. Alpern Rosenthal also provided mentoring and tutoring to the students. For our dedication to the school, Alpern Rosenthal won the Silver Medal as Partner in Education from the School District of Palm Beach County. Mr. Cass believes strongly in giving back to the community. As former President Woodrow Wilson once stated “you are not here merely to make a living. You are here in order to enable the world to live more amply, with greater vision, with a finer spirit of hope and achievement. You are here to enrich the world, and you impoverish yourself if you forget the errand.” Mr. Cass adheres to this belief, stating “I feel that in order to truly be successful in both business and in life, you must contribute as much as you can to your community and to society.” Alpern Rosenthal is ranked as a Top 100 Accounting Firm in the U.S. by Accounting Today and INSIDE Public Accounting. In 2010 Alpern Rosenthal was recognized as one of the South Florida Business Journal’s Best Places to Work. For more information on Alpern Rosenthal visit www.alpern.com or call 561.689.7888.
West Palm Beach, FL | Pittsburg, PA | Philadelphia, PA | Ft. Lauderdale, FL
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