Palm Beach County Business | Winter 2023

From the CEO

PALM BEACH COUNTY continues to be a snapshot of business and lifestyle success stories. From inbound migration of new residents and companies—and all the jobs and opportunities being created—the county is the envy of employers and business leaders everywhere.

The statistics tell the story. Unemployment here will end 2022 at just over 2 percent, even before tourist season kicks into high gear and holiday retail employment is tallied, notes CareerSource

Families are buying homes, developers are purchasing land, and companies are signing or renewing leases, all participating in a building boom that has boldly transformed Palm Beach County into its very own megaregion.

The county is enjoying widespread expansion north to south, and from coastal communities to our thriving agricultural region.

In the past year alone:

n 51% of companies assisted by the BDB in the past year came from outside of Florida.

n 44% of the companies went to Central County, 33% went to North County and 12% went to South County.

n The top five industries were Life Sciences, Distribution/Logistics, Manufacturing, Financial Services and Aviation/Aerospace/Engineering.

As is the case with any thriving market, this is no time to let up. The BDB, in coordination with our board members and community partners, is working to keep Palm Beach County's allure front of mind through intentional and strategic efforts. Together, we are ensuring transportation, infrastructure and educational offerings continue to grow along with what the County is experiencing population- and economic-wise.

Palm Beach County’s fundamentals remain stronger than ever. With an abundant and highly skilled labor pool; a robust business network; a strong services infrastructure; and some of the highest-rated public and private academic institutions from grade schools to grad schools in the state and nation; our commitment is to the future prosperity for our 1.5 million residents.

As we look to the year ahead, I’d like to thank all our partners who’ve helped drive our success, and the businesses and people who have made Palm Beach County their home—and our home.

Kelly Smallridge President and CEO

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 Ava L. Parker, President Palm Beach State College

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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.

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A Bond for Housing’s Future

IN PALM BEACH COUNTY , quality of life is a shared commitment. This November, county residents passed a bond issue to support the “Housing For All” plan. The plan will…

n Fund a $200 million affordable housing bond, paid for by property tax increases

n Help subsidize the construction of some 20,000 affordable, workforce-focused units

n Provide subsidies of roughly $10,000 per residence

n Boost employment of skilled labor across the trades

n Drive development gains across the county

Ultimat

crisis faced by many regions—and make Palm Beach County an ideal place to live for all.

Property Values Keep Growing

PROPERTY VALUES GREW across the county in 2022 over 2021. According to Palm Beach County Property Appraiser Dorothy Jacks’ December recap, the taxable value of more than 650,000 parcels and nearly 60,000 tangible personal property accounts in the county saw significant growth.

Among the stats…

n Market property values grew 31% from 2021; taxable property values rose 15%.

n The municipalities of Westlake, Manalapan and the Village of Golf showed the largest percentage of

Dorothy Jacks Palm Beach County Property Appraiser

Palm Beach State College: The County’s Pathway to Prosperity

WHEN PALM BEACH STATE COLLEGE ANNOUNCED in December a partnership with TMRW Sports to build a high-tech venue at its Palm Beach Gardens campus, the news reflected the college’s ongoing and creative approach to business collaboration in support of student education.

The initiative will come to life as TGL, a high-tech golf league created in partnership with the PGA Tour and backed by golfers Tiger Woods and Rory McIlroy, and TMRW founder and CEO Mike McCarley. With an investment of $9.1 million of in-kind services to the college and $1.7 million in infrastructure improvements, the venture will provide educational and professional growth opportunities for the college, its students and the community.

“This is a proud moment in Palm Beach State College’s history that promises to advance our institution’s recognition as a leader in providing pathways to innovative careers that transform the lives of our students,” President Ava L. Parker, J.D., said at the time. “The TMRW Sports partnership will provide many benefits to the college and provide our students with access to training and employment opportunities in emerging tech fields that will set a strong foundation for their future success.”

This is just the role Palm Beach State College has come to play for employers in need of highly skilled talent. Established in 1933 as Florida’s first public community college, Palm Beach State has seen many of its 140,000 alumni go on to successful careers across the region.

Its success begins at home. PBSC drives $1.1 billion in local economic impact, employing more than 2,500 faculty, adjunct faculty, staff and other personnel. The college also provides $75 million in financial aid awarded to students on its five campuses and online and hybrid programs.

For employers, PBSC is a pipeline for skilled talent. PBSC offers 130 programs of study, including bachelor’s and associate degrees, professional certificates, career training and lifelong learning. Scores of leaders from local businesses and organizations employ and mentor students and influence the development of educational and workforce programs. The college also works closely with the Business Development Board of Palm Beach County on identifying areas of development to better serve the business community.

“Woven into each program’s success is this very strong fabric of business advisors,” Parker said. “They help us understand the kind of employees they need. Then as students graduate, they’re first in line to hire them.”

In the classroom, upgraded technology features multimodal teaching and learning, augmented reality and virtual reality equipment, and machine learning and 3-D visualization. These foster pathways to careers in high technology, health and medical fields, business, and vocational and technical sectors.

What students and employers find is a relatively quick career path— starting with a certificate, and growing to an associate’s and then bachelor’s degree. Students can then seamlessly transfer to four-year degree and postgraduate programs at partnering Florida and national universities.

“The DNA of a community college is that we meet the students and the communities we serve where they are,” Parker said.

The partnerships and accolades are focused on the future. Amazon selected PBSC as an education partner for its Career Choice program, which provides Amazon’s hourly employees access to the college’s degree and certificate programs.

PBSC FAST FACTS

From its five campuses in Belle Glade, Boca Raton, Lake Worth Beach, Loxahatchee Groves and Palm Beach Gardens—plus PBSC Online— Palm Beach State College serves a diverse student population:

n 34% Hispanic

n 30% White

n 29% Black

n 7% All Other

n 60% Female

n 38% Male

n 2% Not Declared

FAST FACT: PBSC is the county’s leading educator of first responders. Since 1999, PBSC has trained 4,500 nurses and 7,800 police, firefighters, paramedics and EMTs.

PALM BEACH STATE COLLEGE TRAINS AND UPSKILLS

TOMORRO W’S EMPL OYEES TODAY, IN SUCH FIELDS AS:

n Health care

n Technology

n Business, marketing and sports management

n Hospitality

n Supply chain management

n Law enforcement, first-responder and public safety

n Manufacturing

n Construction

Woven into each program’s success is this very strong fabric of business advisors.”

Ava L. Parker, President Palm Beach State College

Mike McCarley, Founder and CEO of TMRW Sports; Ava L. Parker, J.D., President, Palm Beach State College; David Rutherford, Vice President, Institutional Advancement and CEO of The Foundation for Palm Beach State College; Patrice Bishop, Vice Chair, District Board of Trustees, Palm Beach State College (standing).

THE U.S. CENSUS BUREAU recently reported that 1,000 people—maybe “significantly” more—are moving to Florida every day. Nowhere has been more popular than Palm Beach County. Our business centers, neighborhoods and airport are bustling.

FROM STATE TO STATE, WHAT OUR NEW RESIDENTS LOOK LIKE…

n 1.6 million Florida residents are New York natives (U.S. Census)

n 41% of new moves to Palm Beach County were from New York (Unacast Study)

n 61,728 New Yorkers switched to a Florida driver’s license in one year (Florida Department of Highway Safety and Motor Vehicles)

n Palm Beach County added 16,818 to its labor force (Emsi), and led the state for year-over-year gain for average weekly wage (Source: SIA)

n PBC led the state in income and population growth (Unacast Study)

n The county is home to 45 billionaire households and 71,000 millionaire households (Forbes)

William Austin

Doug Hammond

Laura Beebe

Director

of Palm Beach County Airports, Palm Beach International Airport

PASSENGER TRAFFIC AND LOGISTICS are flying high at PBI. Among its accolades, the county’s international airport:

n Serves more than 6.5 million total passengers, with an 8% increase this fall over the year 2019 levels.

n Offers nonstop service to more than 30 locations.

n Was named 5th Best Airport in the U.S. in Conde Nast 2022 Reader’s Choice Awards, 5th Best Domestic Airport in Travel + Leisure Magazine’s 2022 World’s Best Awards, and 7th Best Medium Airport in the 2022 J.D. Power North America Airport Satisfaction Survey.

n Is ranked “Best in the U.S.” for Shortest Overall TSA Wait Times by U.S. Customs and Border Protection.

“As travelers return to the airways,” Beebe says, “PBI continues to provide an easy, convenient, less stressful experience for business and leisure passengers.”

ECONOMIC DEVELOPMENT PERSPECTIVE BY THE NUMBERS:

The Business Development Board of Palm Beach County continues to spearhead economic development activity across the Palm Beaches. The numbers tell the story:

n 140 companies have relocated to or expanded in Palm Beach County over the past five years.

n $1.12 billion has been invested back in Palm Beach County’s economy from that activity.

n 13,110 direct jobs have been created.

n 33 companies have grown within the past year, creating 2,502 high-salary jobs.

n $362.5 million was invested back into Palm Beach County as a result of the total capital investment created.

n Palm Beach County has 50 million square feet of existing office space—with 1.5 million square feet of Class A space under construction.

n Palm Beach County has 19.8 million square feet of existing industrial space with an additional 1.6 million square feet under construction.

“Whether you’re rich or poor, it’s a healthier place to Robert Thomson with Waterfront Properties who sold almost 100 homes topping $1 million in 2022. “It made people say, ‘I’m going to make the move sooner rather than later.’”

Burt Minkoff

Senior Director of Luxury Sales Douglas

homestead tax savings as affected the inter-market trading. People are staying in their homes longer to keep their low taxes and low interest rates.

2023 will be more of a traditional real estate market with lower prices and homes taking longer to sell.

Elliman Real Estate

Robert Sadler Clark

Tap Into Talent

Sails Millions into Port of Palm Beach

study by the Port of Palm Beach. Operations and vendors range from shoreside accounting, marketing and sales to local businesses contracted to support its complicated operation, said Kevin Sheehan, the line’s President and CEO. Valets greet passengers, porters handle the luggage, security screens guests, the local Palm Beach Pilots help the ship navigate the channel, and suppliers help stock the ship with food, retail items, fuel and beverage items.

Investment in reimagining the 722-foot, former Bahamas Paradise Cruise Line ship, which got its start under Carnival Cruise LIne’s Costa brand, exceeded $50 million. The investment paid off.

Recorded its best booking day ever in Q4

Marked the highest occupancies ever for a November Enters 2023 25% booked, a significant feat for a small, shortary cruise line

“The Port of Palm Beach is a large ecosystem of commerce, all working together to support our cruise business, also in addition to a large-scale cargo and transportation operation,” Sheehan

BDB Represents Palm Beach County Globally Unlock the Lifestyle!

BDB President and CEO, Kelly Smallridge, has been named to two new boards. She represents Palm Beach County on…

n The International Economic Development Council (IEDC), the world’s largest organization of its kind; and

n The Southern Economic Development Council (SEDC), the oldest and largest regional economic development association in North America, representing 17 states across the Southeast.

As her tenure starts January 2023, Palm Beach County will step on the global stage.

The Business Development Board “Unlock The Lifestyle” employee relocation packet is a one-stop shop for local and inbound talent. In it, you’ll discover…

n Available apartments and housing by region

n Maps to help navigate paradise

n Info on social hotspots, culture, even health care Updated monthly, you’ll discover the lifestyle that makes the move worthwhile. Click. Learn. Live it up— in Palm Beach County.

Palm Beach Atlantic University + Wall Street South

A new business complex planned for Palm Beach Atlantic University in West Palm Beach will maximize the city’s reputation as “Wall Street South.” Funded in part by donations from John J. and Sheila Rinker ($20 million) and the Marshall & Vera Lea Rinker Foundation ($6 million), the six-story building will include …

n A stock trading room with professional terminals and a stock ticker

n A 314-seat tiered lecture hall

n Expanded space for the Titus Center for Franchising

n The LeMieux Center for Public Policy

The university’s long-term “God-Sized Dreams” master plan also calls for a new health sciences complex; a performing arts center; and a student and alumni welcome center. President Dr. Debra A. Schwinn thanked the donors, and said the contributions will allow the university “to contribute even more strongly to our local community and world.”

New Directors

Seven Palm Beach County Companies Selected as GrowFL Florida Companies to Watch

The Business Development Board has selected three new board members to serve on its Board of Directors at the start of its fiscal year in October 2022. They are:

n Chris Kennedy of construction firm Suffolk, as a Director at Large

n Noreen Payne of company Amy and Noreen Team/Lang Realty, representing the Delray Beach Chamber of Commerce

n Deana Pizzo of I.T. Solutions of South Florida, representing the Economic Council of Palm Beach County

Palm Beach County had the highest number of entrepreneurs on the list, bringing the grand total from over the years to 29 companies.

2TON Agency

Ear th and Sugar LLC

FloSpine LLC

Misfits Gaming Group

ReachLink

Sloane Staffing

StillDragon North America LLC

Chris Kennedy

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.

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

Takeaway: “CareerSource recruiters’ direct contact with hiring managers is invaluable. … The recruiters want to see you excel, and they want to see the employers happy with the talent they’ve sourced. It is a difficult task to make everyone happy, but these recruiters have perfected this art.”

JUHI BRAD VERONICA

and assists vice presidents with quarterly task force meetings. Takeaway: “I love my job. I work with some of the most amazing and talented people around. We work together and with our community partners to grow Palm Beach County’s business climate.”

Takeaway: “I am enjoying my job. CareerSource is a wonderful organization ready to help the community grow as well as the companies and organizations who call Palm Beach County home. For anyone who is seeking help in their professional career or brushing up on their skills, CareerSource is the place to visit.”

Business Solutions

‘King of Charisma’ Preps for Perfect Job

SOMETIMES FINDING THE PERFECT JOB isn’t about the “job.” It’s about taking a new view on career development to create opportunities. To Tim Schaum, it was about going “back to school” to relearn what he had always thought about personal development.

A career-long business development professional, Schaum reached out to CareerSource Palm Beach County. He then enrolled in CareerSource Palm Beach County’s three-day Professional Placement Network (PPN) program for experienced professionals, where they helped polish his résumé and LinkedIn profile, sharpen his interview skills and give access to employers through their established contacts.

Feeling better prepared for any job hunt following the workshops, he participated in CareerSource’s Paychecks for Patriots Job Fair. He walked out having connected with more than 30 companies, swapped contact information with scores of individuals, and acquired a professional headshot and LinkedIn review. He landed interviews with Manpower, ADT and Coca-Cola the next day.

Calling the organization his “career compass,” Schaum—the self-proclaimed “king of charisma”—lauded his team, which includes Eustus Fagan, Alice Hepburn, Jacqueline George, and Abner Pedraza, for their guidance. He continues to work with senior recruiter Robin Parsons on his career change and job search.

“I went through all the training at CSPBC first before I even started my search. Most do not do it that way,” said Schaum, who years ago earned his hotel and restaurant management and business administration degree from Georgia Southern University and saw his “back to school” approach as the driver for a successful career change. “Everyone wants to know, ‘is there an app for that?’ I went to ‘school’ on how to have a successful career change, not just a job hunt.”

Central Career Center 3400 Belvedere Road

West Palm Beach, FL 33406

561.340.1060

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.

Connecting business with talent | www.careersourcepbc.com

CareerSource Palm Beach County, Inc. is the direct service provider for various workforce programs supported by the U.S. Departments of Labor, Health and Human Services, Education and other agencies as part of awards totaling $15,851,406 (revised annually). Unless otherwise stipulated, all statements, news releases, requests for proposals, bid solicitations and other applicable documents are fully funded from federal sources. (As of July 2, 2022)

Tim Schaum

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. TO BOOK, CALL 561.340.1700 OR VISIT

ALLOW US TO HOST YOU BRILLIANTLY. 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.