Palm Beach County Business | Fall 2022

Page 1

QUARTERLY ECONOMIC DEVELOPMENT MAGAZINE FALL 2022 BDB.ORG BUSINESS PALM BEACH COUNTY Relocation High-Flying Percepto Lands in Riviera Beach Expansion BDB: 40 Years, Countless Deals Careers Class Act: CareerSource’s PPN Preps Execs for Next Job J. M ichael Prince & U.S. Polo Assn. Local H Q, Global Vision
BDB Gala 2022 Thank You to Our Sponsors page 18 Percepto Flies Drone Facility into Riviera Beach page 10 page 17 1 FALL 2022 | PBC BUSINESS PALM BEACH COUNTY BUSINESS 19 16 11 14 18 10 8 4 PBC BUSINESS | FALL 2022
Team USPA at U.S. Polo Assn. Invitational Game

From the CEO Where “Dynamic” Comes to Life

ONE GLIMPSE AT PALM BEACH

COUNT

Y’S past year of business relocations and expansions reveals the breadth and scope of companies, products and industries that make up Palm Beach County’s business sector. In a word, it’s dynamic.

From aerospace and engineering to business and financial services, as well as distribution, logistics, life sciences, agribusiness and technology, the county's business sectors are diverse, robust and growing. In all, the Business Development Board assisted 33 corporate relocations and expansions, securing more than 2,500 jobs, 1.68 million square feet of commercial or industrial space, and more than $362 million in capital investment.

Palm Beach County has experienced major investments. One such feature includes U.S. Polo Association, where President and CEO J. Michael Prince leads a nearly $2 billion enterprise centered on the polo fields of Wellington. We also take a look at the arrival of Percepto, the drone company assisting FPL and other global companies with autonomous drone inspection and monitoring; and Procaps, the Colombian pharmaceutical manufacturer that will manufacture almost two billion capsules from its plant in Riviera Beach.

Throughout the county, business is growing. In Boca Raton, developer Compson Associates’ trophy development, Aletto Square, is helping spur urban living in the thriving downtown sector—and driving business throughout South County.

In fact, from north to south, from the beaches to our rich agricultural region, Palm Beach County epitomizes the growth that Florida continues to experience. As other regions across the country saw an outflow of people and companies resulting from COVID, we’re still welcoming those new arrivals, with 2021 relocations up, with 51% of companies growing in Palm Beach County were relocations from out of state. As the pandemic has become a more managed health care situation, the influx continues. Even tourism has rebounded to near pre-pandemic levels.

At the BDB, our mission is to introduce businesses to our county and ensure Palm Beach County remains a robust, growing and dynamic destination.

PALM BEACH COUNTY, FLORIDA is Home to 39 Cities and Towns, Including:

City of Atlantis

City of Belle Glade

City of Boca Raton

City of Boynton Beach

Town of Briny Breezes

Town of Cloud Lake

City of Delray Beach

Town of Glen Ridge

Village of Golf

City of Greenacres

Town of Gulf Stream

Town of Haverhill

Town of Highland Beach

Town of Hypoluxo

Town of Juno Beach

Town of Jupiter

Town of Jupiter Inlet Colony

Town of Lake Clarke Shores

Town of Lake Park

City of Lake Worth Beach

Town of Lantana

Town of Loxahatchee Groves

Town of Manalapan

Town of Mangonia Park

Village of North Palm Beach

Town of Ocean Ridge

City of Pahokee

Town of Palm Beach

City of Palm Beach Gardens

Town of Palm Beach Shores

Village of Palm Springs

City of Riviera Beach

Village of Royal Palm Beach

City of South Bay

Town of South Palm Beach

Village of Tequesta

Village of Wellington

City of Westlake

City of West Palm Beach

Business Development Board of Palm Beach County, Inc. 310 Evernia Street West Palm Beach, FL 33401 561.835.1008 | bdb.org

Kelly Smallridge President & CEO 561.835.1008 Ext. 4121 ksmallridge@bdb.org

Gary Hines Senior Vice President – Administration 561.835.1008 Ext. 4111 ghines@bdb.org

Lisa Anderson

Vice President – Private Funding 561.835.1008 Ext. 4110 landerson@bdb.org

Kristen Boyd Liberman Vice President – Marketing & Media Relations 561.835.1008 Ext. 4106 kliberman@bdb.org

Tim Dougher Vice President – Business Recruitment, Retention and Expansion 561.835.1008 Ext. 4131 tdougher@bdb.org

Shawn Rowan Vice President – Business Recruitment, Retention and Expansion 561.835.1008 Ext. 4108 srowan@bdb.org

Whitney West Vice President – Strategic Initiatives and Events 561.835.1008 Ext. 4101 wwest@bdb.org

ON THE COVER J. Michael Prince, President and CEO USPA Global Licensing Inc.

PUBLISHED BY

Passport Publications | passport media group 1555 Palm Beach Lakes Blvd., Suite 1550 West Palm Beach, FL 33401 561.472.8778 | PassportPublications.com

Palm Beach County Business Quarterly is published by Passport Publications & Media Corporation, on behalf of the Business Development Board of Palm Beach County, Inc. All rights reserved. No part of this publication may be reproduced without the expressed written consent of the Business Development Board of Palm Beach County, and the publisher. © 2022 Passport Publications & Media Corporation

2 PBC BUSINESS | FALL 2022
IN
KNOW
THE

LIVE ON VACATION

Step out and embrace the Florida sunshine while the ocean waves roll in. You’ve found your own personal escape. Well-appointed suites boast deluxe bedding, fully equipped kitchens and even a washer and dryer to bring all the comforts of home to the sea. You’re also surrounded by Palm Beach’s finest sights, sounds and flavors. So grab a bite. Take a dip. Check out the scene. And rest easy knowing you can do it all again tomorrow at Palm Beach Marriott® Singer Island Resort & Spa.

Step out and embrace the Florida sunshine while the ocean waves roll in. You’ve found your own personal escape. Well-appointed suites boast deluxe bedding, fully equipped kitchens and even a washer and dryer to bring all the comforts of home to the sea. You’re also surrounded by Palm Beach’s finest sights, sounds and flavors. So grab a bite. Take a dip. Check out the scene. And rest easy knowing you can do it all again tomorrow at Palm Beach Marriott® Singer Island Resort & Spa.

ALLOW US TO HOST YOU BRILLIANTLY.

ALLOW US TO HOST YOU BRILLIANTLY.

TO BOOK, CALL 561.340.1700 OR VISIT

TO BOOK, CALL 561.340.1700 OR VISIT

PALMBEACHMARRIOTT.COM

PALMBEACHMARRIOTT.COM

PALM BEACH MARRIOTT SINGER ISLAND BEACH RESORT & SPA

PALM BEACH MARRIOTT SINGER ISLAND BEACH RESORT & SPA

3800 NORTH OCEAN DRIVE, SINGER ISLAND - RIVIERA BEACH, FL 33404 561.340.1700, PALMBEACHMARRIOTTRESORT.COM

3800 NORTH OCEAN DRIVE, SINGER ISLAND - RIVIERA BEACH, FL 33404 561.340.1700, PALMBEACHMARRIOTTRESORT.COM

©2020 Marriott International, Inc.

©2020 Marriott International, Inc.

PBI SG Ad Pr ofil e M ag 9x1 0 88 0520 in dd 1 11:40

U.S. Polo Assn. Saddles Up Global Plans from Palm Beach County

FROM THE POLO FIELD TO THE OCEANS to the airwaves and across 1,200 retail stores worldwide, the U.S. Polo Assn. brand is running full stride on a global scale. Even before the United States Polo Association (USPA) acquired the 161-acre International Polo Club there this summer, USPA Global Licensing (USPAGL), the company that manages and oversees the U.S. Polo Assn. brand, signed a host of deals to take its sport to new audiences.

Its entertainment and media subsidiary, Global Polo Entertainment, signed a landmark deal with ESPN to air the finals of the top seven U.S. and World Championship polo events in 2022. These include the XII FIP World Polo Championship, the 2022 Gauntlet of Polo®, the top-rated U.S. Open Women’s Polo Championship, and the semi-finals and finals of the 100th Men’s and Women’s National Intercollegiate Championship.

In June, USPAGL announced that U.S. Polo Assn., the official brand of the USPA, registered a record $1.8 billion in global retail and online sales for 2021. The company grew to 1,200 retail stores in 190 countries, with flagship locations in New York’s Times Square and a five-story store on Istiklal Street in Istanbul, Turkey. New stores are planned for India, the United Kingdom and Brazil.

The company’s successes have won accolades. U.S. Polo Assn. was awarded the Retail and Leisure International Global Retailer of the Year Award and was named a Top 500 Retailer by Digital Commerce 360. In addition, the brand now ranks fifth in global sports licensing, just behind the National Football League, the NFL Players Association, Major League Baseball and the National Basketball Association, and is the 28th-largest global licensor amid the top 150 retail brands of any kind in the world, according to License Global magazine.

The deals and praise have been symbiotic, historic and groundbreaking for a brand determined to reach more fans, attract new audiences and deliver more polo sport and lifestyle content on a global scale, said J. Michael Prince, who was named USPAGL President and CEO in 2018 after holding C-suite titles with Nike, Converse, Cole Haan and Guess.

Prince’s goal has been to build an enterprise that’s exciting, inclusive and philanthropic. The ESPN deal showcases college competitors and reveals how male and female players regularly compete on the same field. In fact, women represent nearly half of all club-level players today.

Philanthropy is central to the sport’s growth. The brand, U.S. Polo Assn., partners with 48 college teams across 28 universities nationwide to help with equipment, operations and tournament costs and planning. It also provides scholarships to fashion students and funds facility improvements at Alexander W. Dreyfoos School of the Arts in West Palm Beach. Expanding overseas, U.S. Polo Assn. partners with HRH The Prince of Whales and his many children’s charities through the Royal Charity Cup in the U.K., among many more.

In April, USPAGL and 4ocean, the Boca Raton-based organization that fishes plastics from the world’s oceans, rivers and coastlines, announced that their partnership had tallied 30,000 pounds of trash removed—half of their 60,000-pound commitment.

“We are very thoughtful and deliberate about giving back to the community,” said Prince, who’s not a polo player but who grew up on an Oklahoma ranch surrounded by cattle and livestock. His passion for sports started in childhood, and allows him to “put that lens on this beautiful sport.”

4 PBC BUSINESS | FALL 2022
2022 Polo Player Photoshoot Podium at 2022 Outsourcing Inc. Royal Charity Polo Cup with HRH The Prince of Wales Inside the West Palm Beach U.S. Polo Assn. Store

for the next generation of players but for the next 100 years of the sport.”

For the first time in history as a sport and brand, we own our version of Yankee Stadium, Fenway Park or Churchill Downs.”

5 FALL 2022 | PBC BUSINESS
FEATURE
West Palm Beach Global Headquarters

SMART STREETSCAPES

A new $26 million NSF Engineering Research Center will help to make downtown communities safer and more accessible — while boosting economic development. Florida Atlantic University landed this major center with Columbia University, Rutgers University, the University of Central Florida and Lehman College.

Read the full story at https://bit.ly/3wvG9ib

The Engineering Research Center for Smart Streetscapes (CS3) project will develop livable, safe

and inclusive communities by focusing on the streetscape — the neighborhood streets, sidewalks and public spaces. A “smart streetscape” could instantly sense human behavior and guide disabled pedestrians, collect refuse, control pests, amplify emergency services, and protect people against environmental and health threats. The CS3 was selected for this highly competitive grant from among hundreds of candidate centers across the country.

“Together with Columbia University and our other core partners, FAU will co-lead smart city research and innovation, capitalizing on and growing our collective

At Florida Atlantic, CS3 builds upon a longstanding partnership with the City of West Palm Beach. This collaboration is supported through the City of West Palm Beach, the Knight Foundation, and the Community Foundation of Palm Beach and Martin Counties, and developed through the West Palm Beach Mobility Intelligence Project, led by Florida Atlantic’s I-SENSE.

experience in sensing technologies, artificial intelligence, high-speed wireless communication, simulation and forecasting, among other areas of expertise,” said Stella Batalama, Ph.D., dean, FAU College of Engineering and Computer Science. “Joining forces with our academic, government and industry partners will help to ensure the rapid translation of these technologies for wide-use applications and fruitful economic impact.”

For more information, connect with Camila Mychalczuk, Office of University Relations.

cmychalczuk@fau.edu or 561-405-5054

40 YEARS, Countless Deals

FORTY YEARS AGO, the Business Development Board of Palm Beach County was founded to drive economic development in the county and region. With our fifth decade underway, the impact of the corporate relocations and expansions, jobs and dollars driven to the county is immeasurable.

Relocation; 17 jobs; Business Financial Services; West Palm Beach; 10,000 sq. ft.; $5M capital investment

3. CHILDERIC USA: Relocation; 3 jobs; Equestrian; Wellington; 1,050 sq. ft.; $25,000 capital investment

4. CHROMALLOY: Expansion; 110 jobs; Aviation/Aerospace/Engineering; Palm Beach Gardens; 22,224 sq. f t., $100,000 average wage; $400,000 capital investment

5. DALFEN INDUSTRIAL: Relocation; Distribution/Logistics; Lake Park; 184,758 sq. ft.; $40M capital investment

6. DALFEN INDUSTRIAL #2: Relocation; Distribution/Logistics; Palm Beach County; 131,000 sq. ft.; $30M capital investment

7. DEPUY SYNTHES / JOHNSON & JOHNSON Expansion; 321 jobs; Life Sciences; Palm Beach Gardens; $34M capital investment

8. DISH WIRELESS: 30 jobs; Infotech; West Palm Beach; 24,843 sq. ft.; $550,000 capital investment

9. EARTH AND SUGAR: Expansion; 10 jobs; Manufacturing; West Palm Beach; 2,600 sq. f t.; $1,021,080 capital investment

10. ELECTRIQ POWER: Relocation; 40 jobs; Corporate Headquarters; Palm Beach County; 7,500 sq. f t.; $1M capital investment

11. ESSENTIAL CANDY: Expansion; 26 jobs; Manufacturing; Wellington; 2,900 sq. ft.; $100,000 capital investment

12. EXACORE: 50 jobs; Manufacturing; Palm Beach County; 165,000 sq. f t.; $1,200,000 capital investment

13. GTCR:

Relocation; 20 jobs; Business Financial Ser vices; Palm Beach County; 7,000 sq. ft., $280,000 average wage; $5M capital investment

14. HOTELPLANNER:

Expansion; 50 jobs; Corporate Headquarters; West Palm Beach

15. HYDRAULIC SUPPLY COMPANY: 15 jobs; Manufacturing/Distribution; West Palm Beach; 27,934 sq. ft.; $2,786,717 capital investment

16. IDEAL NUTRITION:

Expansion; 240 jobs; Distribution/Logistics; Palm Beach Count y; 43,000 sq. ft.; $45,000 average wage; $2.5M capital investment

17. I.T. SOLUTIONS OF SOUTH FLORIDA:

Expansion; 34 jobs; Information Technology; Hypoluxo; 8,000 sq. ft.; $1,745,000 capital investment

18. K-RAIN:

Expansion; 59 jobs; Manufacturing; Riviera Beach; 20,000 sq. f t.; $5M capital investment

19. KRUSECOM:

Relocation; 30 jobs; Information Technology; Palm Beach County

20. MILLENNIUM MANAGEMENT GLOBAL INVESTMENT: Relocation; 150 jobs; Business Financial Services; Palm Beach County; 40,000 sq. ft.; $400,000 average wage; $10M capital investment

8 PBC BUSINESS | FALL 2022 FEATURE

22. NATIONAL DENTEX CORPORATION: Expansion; 50 jobs; Life Sciences; Jupiter

23. PERCEPTO:

Relocation; 100 jobs; Aviation/Aerospace/Engineering; Palm Beach County; 11,000 sq. ft.; $5M capital investment

24. PROCAPS GROUP:

Relocation; 242 jobs; Life Sciences; Palm Beach Count y; 88,000 sq. ft.

25. PUBLIX DISTRIBUTION CENTER: Expansion; 270 jobs; Distribution/Logistics; Boynton Beach; 571,000 sq. ft.; $155,256,000 capital investment

26. RENCO USA: Relocation; 100 jobs; Corporate Headquarters/Manufacturing; Palm Beach County; 50,000 sq. ft.; $25M capital investment

27. RINGSQUARED: Relocation; 10 jobs; Corporate Headquarters; Delray Beach

28. SANDERS CAPITAL:

Relocation; 25 jobs; Business Financial Services; West Palm Beach; 10,000 sq. ft.; $5M capital investment

29. UOVO: Relocation; 15 jobs; Distribution/Logistics; Palm Beach Count y; 50,000 sq. ft.; $15M capital investment

30. WARRENS CONCRETE: Relocation; 70 jobs; Manufacturing; Palm Beach Count y ; 20,000 sq. ft.; $100,000 capital investment

CLOSED CONFIDENTIAL PROJECTS UNDER CODE NAME:

ABOUT THE BDB

The Business Development Board assists companies with services such as: confidential project management; real estate availability; information on financial assistance and city, county and state incentive programs; demographic and labor market information; site tours conducted by our relocation and expansion staff; introductions to business networks; introductions to workforce training programs; expedited permitting assistance; commercial and residential real estate availability; connections to local colleges and universities; tours of public and private schools; and introductions to city, county and state elected officials.

FAST FACT
The Management Team of the BDB

Percepto Flies Drone

Facility into Riviera Beach

This service is vital to Percepto’s Fortune 500 customers on six continents, including Florida Power & Light (FPL), with whom the company has been working since 2018, said Yorai Shmueli, Percepto’s VP of Global Operations, who heads the Palm Beach County offices. As the power utility’s plans for using autonomous drones developed, it was clear that Percepto needed a local operation.

Palm Beach County was the right destination for several reasons. The office supports Percepto’s operations globally, particularly in North and Latin America, where the company sees a massive demand ahead. The county also serves as the perfect gateway to these regions with great road, air, rail and water transportation options, Shmueli said.

As the company grows, the county’s pool of highly educated talent will help it fill dozens of open posts for technical support engineers, solution engineers and workshop integrators.

To help facilitate the move, FPL’s economic development department introduced Percepto to the Business Development Board of Palm Beach County for local help and guidance.

“Opening a major office in a new state is always better with local help. We got as ideal support as a company can get making such a move,” said Shmueli, noting the lifestyle component can’t be overlooked. “By being in Palm Beach County, we’ll continue to spearhead the autonomous drone industry, while having a great time getting things done.”

10 PBC BUSINESS | FALL 2022 FEATURE
From left to right: Sagi Blonder, Co-founder & CTO Raviv Raz, Co-founder & Chief Engineering Officer Dor Abuhasira, Co-founder & CEO Ariel Avitan, Co-founder & CCO Percepto Founders with Air Max drone

PROCAPS: A Healthy Prescription for Growth

international health care and pharmaceutical company found a prescription for growth.

Acquired under its U.S. company, Sofgen Pharmaceuticals, the 86,000square-foot facility will accommodate five times its current workforce; increase development and analytical testing capacities for other pharmaceutical and nutraceutical companies across the U.S.; and boost production capacity to some 1.8 billion capsules per year for its iCDMO (integrated Contract Development and Manufacturing Organization) business unit. The company also develops, manufactures and markets over-the-counter and prescription pharmaceutical drugs, nutritional supplements and high-potency clinical solutions.

Its reach is expansive. Procaps’ pharmaceutical and nutraceutical solutions, medicines and hospital supplies can be found in more than 50 countries across five continents. The company has a direct presence in 13 countries in Latin America and more than 4,500 collaborators working under a sustainable model.

To grow that presence in the U.S., Procaps tapped the expansion resources of the Business Development Board of Palm Beach County and training grant programs and HR services from CareerSource Palm Beach County.

“This new investment is a very important milestone for our corporation. Not only will it provide us the opportunity to deliver a wider array of products as we move even closer to our customers in the North American markets but also to implement our ambitious global growth plans,” Ruben Minski, Founder and CEO of Procaps Group, said in an announcement. “We are eager to get to know more about the community around us, support local initiatives and generate important synergies and permanent employment.”

11 FALL 2022 | PBC BUSINESS FEATURE
ELEVATING COMMERCIAL REAL ESTATE Commerce Pointe Silver West Palm Beach 501 N A1A 501 North A1A, Jupiter CenterPoint Plaza Lake Worth Northpointe Professional Centre North Palm Beach 900 East Jupiter The Concourse West Palm Beach Here are just a few in our portfolio of properties: 222 Lakeview Ave., PH 5 | West Palm Beach, FL 33401 1926 10th Ave. N., Suite 304 | Lake Worth Beach, FL 33461 561.681.0221 | pacogil@sympaticorealestate.com www.sympaticorealestate.com

ABOUT OUR PROPERTIES:

Sympatico Property Management is a full-service real estate management company that prides itself as both owner and manager. Our “hands on” approach to business established a desire to manage the family’s real estate holdings. As the family’s portfolio expanded, so did our knowledge of the local market. The company’s vast real estate holdings, including retail, commercial, residential and warehousing in Palm Beach and Martin County gives us a competitive advantage in management. Acting as both owner and management team, our goals are in line with maximizing efficiency though tenant relationships and we have the experience of the landlords objectives. Our vertically integrated property management service and local expertise ensures that day-to-day operations are smooth and seamless.

Amanda Arquette 561.777.9838 Lorena Blanc 772.529.3464 Paco Gil 561.309.2308
820 S Dixie West Palm Beach 331 S. County Rd Palm Beach Gatsby 1609 S. Dixie Hwy., W. Palm Beach 3701 Broadway West Palm Beach
Sympatico Plaza Port Saint Lucie 660 Office Building North Palm Beach

Iconic Office Tower Coming to Boca Raton

stretch of Atlantic oceanfront is nearby.

“The Business Development Board is working with 50 companies that have either relocated to Palm Beach County or are in the process of making the move. Aletto Square will create more space for those companies seeking Class A office space, especially in the southern parts of Palm Beach County,” said Kelly Smallridge, President and CEO, Business Development Board of Palm Beach County. “The influx of migrations is a trend we do not see slowing down, with 60,000 people recently changing their drivers’ licenses from New York to Florida.”

For Compson, which has developed more than 10,000 condominiums and sold more than $3 billion in real estate development across the east coast, Aletto Square will showcase what Boca Raton and south county have become—and promise to be in the years ahead.

14 PBC BUSINESS | FALL 2022
“Aletto Square will create more space for those companies seeking Class A office space, especially in the southern parts of Palm Beach County.”
FEATURE
— Kelly Smallridge, President and CEO, Business Development Board of Palm Beach County

News + Events

Jupiter Medical Center

magazine “Best Hospitals” Guide. Produced in partnership with national health care watchdog organization the Leapfrog Group, the guide to world-class health care puts Jupiter Medical Center among only 148 such hospitals nationwide. It’s a “tremendous achievement,” said Amit Rastogi, MD, MHCM, president and CEO of Jupiter Medical Center. “Our entire team is unwavering in its commitment to providing the highest quality of care to our community.”

48 Companies Thriving in Palm Beach County Sunshine

U.S. businesses are booming. Just look at Palm Beach County. The county is home to 48 honorees on the Inc. 5000 list of fastest-growing companies. Half of South Florida’s top 10 were in the county, with south county cities Boca Raton, Delray Beach and Boynton Beach having an especially strong showing. Among the county’s top honorees: Homethreads (#8); Zimba & Plus Ultra (#35); Octillion (#68); HCM Unlocked (#99); and Stylecraft (#122).

12 Companies Earn BDB, ESPN “Business of the Month” Honors

A dozen local business leaders were showcased in The Business Development Board of Palm Beach County (BDB) and ESPN West Palm’s “Business of the Month” program.

Those profiled on the “ESPN West Palm Tonight” podcast over the BDB’s last fiscal year—from November 2021 to October 2022— include: Gary S. Lesser of Lesser, Lesser, Landy & Smith PLLC; Arthur Martens of Martens Group; Erick Strati of Wells Fargo; Leadership at Suffolk of Suffolk Construction; Jake Geleerd of Tortoise Properties; J. Michael Prince of USPA Global Licensing Inc.; Fabiola Brumley of Bank of America; Dr. Routman of HCA Florida JFK Hospital; Mary Anne Cannon of Pratt & Whitney; Dr. George L. Hanbury II of Nova Southeastern University; Matthew Hedrick of 35 Mules (Florida Power & Light); and Dale Hedrick of Hedrick Brothers Construction Congratulations to the honorees for their success in making their businesses—and Palm Beach County—winners.

16 PBC BUSINESS | FALL 2022 PBC BUSINESS | FALL 2022
E. Jason Wambsgans/Chicago Tribune JMC New Patient Tower Sign

County Corner

Say YES to Small Business Success!

THE COVID -19 PANDEMIC has reshaped the business world in ways that no one could have imagined, affecting businesses from small to large. What do we do now? Where do we start? What are the lasting effects? We cannot hit rewind, but many businesses learned new ways to adapt and survive in these challenging times.

Many businesses in Palm Beach County and the rest of the United States are facing a critical shortage of employees. Everywhere you go, you see signs in windows displaying “We are hiring.” According to a Pew Research Center survey, this is the result of workers quitting their jobs at record rates for various reasons including low pay, lack of opportunities for advancement, feeling disrespected, having child care issues, lack of flexible work hours, or a lack of benefits including health insurance and paid time off. Older workers left for early retirement. These are just a few reasons that have contributed to the phenomenon called “the great resignation.” Another reason that is seldom mentioned is that many Americans decided to start their own businesses.

Staying home during the pandemic not only provided many Americans with time to reflect on their work-life balance, but also allowed some households to save a little extra money. A few realized they did not like their working environment or no longer wanted to work for someone else. This and other factors appear to have contributed to the submission of 5.4 million applications for business ID numbers in the United States in 2021, an increase of more than 50 percent from pre-pandemic 2019. For now, this has halted and perhaps reversed a decades-long decline in the pace of entrepreneurship.

During the month of February 2021 in Florida alone, 50,972 businesses were founded. Recognizing that starting a business comes with a lot of risks and costs— such as higher health care costs for the self-employed, irregular paychecks and a high risk of failure—one of the many options that the Palm Beach County Department

of Housing and Economic Development (DHED) offers is an assortment of programs to position a new venture for success. DHED supports local entrepreneurs through programs and par tnerships.

Recently, the Federal Reserve has increased interest rates, and traditional banking historically has been tough to finance startup businesses. However, here at DHED, we have a product tailored to accommodate the needs of small businesses: the microloan program. This low-interest, fixed-rate program provides up to $25,000 to help new businesses with start-up costs, equipment purchases, or working capital, and requires a minimum creation of one full-time job.

In addition, DHED contracts with business incubators and local organizations that offer hands-on assistance to startup and early stage entrepreneurs and small businesses. The Center for Technology, Enterprise & Development Inc. (The TED Center, https://tedcenter.org) and the Center for Enterprise Opportunity (CEO, www.ceoventures.org) offer business consultation, technical assistance, networking connections, management and computer training, rental space, and access to capital services. The Black Business Investment Corporation (BBIC, www.pbcbbic.biz) offers financial assistance and training programs to qualified businesses.

Palm Beach County is committed to building upon its healthy business environment, and as such, hosted an Economic Summit this June. To learn more about DHED’s business programs, visit our webpage at www.pbcgov.org/HED, or call Meri Weymer at 561-233-3600.

DEPARTMENT

BDB Gala 2022

PBC BUSINESS | FALL 2022
19 FALL 2022 | PBC BUSINESS
Demetra Jenkins

Business Class Act: CareerSource Course

negotiations. On day three, mock interviews with recruiters from CareerSource’s Business Services Team are followed by networking. The day closes with a photo shoot for their LinkedIn profile shot.

Gone is the traditional job hunt; enter the digital career search. For example, old-school résumés highlighting previous employers are transformed to sell applicants’ skills—and capture a recruiter or hiring manager’s attention in eight seconds or less, Fagan said. And if the hiring manager next heads to their LinkedIn profile, will they be impressed?

“We teach techniques to help students stand out,” he said. “We take inventory of students’ skills, create their professional brand, polish their online presence and help them articulate qualities so an employer will see them as someone who will thrive in their culture.”

After three days, students graduate empowered. Recent grads have called it excellent, relevant, better than expected and “necessary to everyone in the job market.”

“This digital economy runs fast and hard,” said Fagan, a nominee for the Florida Workforce Development Association Barbara K. Griffin Workforce Excellence Award. “We help candidates improve their skills, agility, brand and confidence to navigate this changing market and find their next job.”

Held the third week of every month, PPN works with partners to move the program around the county and accommodate larger cohorts. To learn more, visit careersourcepbc.com, call 561-340-1060 or email ppn@careersourcepbc.com.

CareerSource Palm Beach County’s full-service centers are staffed with career coaches and consultants who are dedicated to serving first-time, experienced and professional job seekers. The services include career consulting, computers for job searches, internet access to our statewide jobs database Employ Florida, job search and placement services, workshops, training opportunities, work assessments and more. To learn more, go to careersourcepbc.com.

561.340.1060

Central
Career Center 3400 Belvedere Road West Palm Beach, FL 33406
Connecting business with talent | www.careersourcepbc.com 20 PBC BUSINESS | FALL 2022
DEPARTMENT
Eustus Fagan
thatallowsthemt providethewireles Ourclientsdepen ALL ABOUT T IN OUR BUSI N VI C E S H NICAL S E ER Wireless atisfactio ngthesta utions,w omers.A totransm sinfrast ndonS HE SI G IT , NESS T IS NA L . SBAto ructure mitthe Astheir eare ndard onby s® NG | SITE SITE MANAG TOWER OWNERSHIP | LEASING 800.487.SITE | sbasite.com Building Better forcustomers continuouslysettin infrastructuresol signaltotheircusto EMENT | SITE DEVELOPMENT | CONSTRUCTION | TEC © 2022 SBA A Communications Corporation. All Rights Reserved.
O M C . W A L GT
C A N the Un govern enbGre Asia HAN andabroad Am Latin ed Stat it and philanth ep raurig has de r erg T mental, es, ationally G IN G weofferwiderangi the Mid a c hropic roots in South Florid ommunities, erica, Europe, O R W ngrepresentation and ddle East ell as throughout as w legal, ’ a s business, , . L D Bankin Genera orssect and int We Our capital Asia. Regulation g&Bank a Areas In P eractic l P conom fueling the e ompanie ernational c e alm Beach offic est P vast reso lizing on the and abroad IntellectualProp y: y C lm Beach alm Be wth in P gro in e es in numerous k ys advise loc orneatt f our global es o urc e offer wide-rangi , y ic ount ty er . ach C ndustries and national, e.practic ng representation cal, ounty Govern • Golf & • Global • Equine • Corpora • Busine • • yolic & P ment L velopment t De Resor ompensatio Benefits & C ate ss Planning g & Bank aw ealth Managem W • Tax • curities Litigat Se • vel e De eal Estat R • Arbi Litigation & • ym abor & Emplo L • ctual P • on ent egulation ion & R e opment & Financ tration ment G South Flagle 777 Bideau . k Mark F. ra enberg T Gre GREENBER O TT A | .A.P, a est P W e 300 East | e | Suit er Driv Gerber | Managing L. y cy Tr u | Trac raurigL L enbergT Gre LLPurig, 004 2 | WALT A 33401 | 561.650.79 L , PaalmBea We Shareholders | WestP alm Beach, FL PG T GT_Law RNEYS Midd Unite ORL D A OC L3 4 S| ORNEY TT 900 ach W Law A AsiaEastdle Europe, , ed Stat TIONS A OC L WIDE ° WIDE ORLD W TIONS es, sta clients, , orne raurig attTenberg tisement do not depict Gre erthis adv tising.erAdvyorne Attt ed. All rights reserv ys at L Atttorne P. raurTenberg f Gre andtradenameo k raurig is a servic Tenberg Gre emark LLP A A ys, Latin 36773 aff or facilities. Images in o fluctuation. ct t °These numbers are subje enberg ©2022 Gre P..A raurig,Tenberg and Gre LLP rig, P n America Asia, , Eastdle
LE YO A G OUR GAL V I S AD OTO IN SOR N

Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.