Published On: Fri, Jan 3rd, 2020

City of Boca Raton – Office of Economic Development

Facebook Join My List Logo

 

 

October, November, December 2019 Quarterly Review

BOCA RATON  Named in Top 25 “South Florida’s Best Neighborhoods of 2019”

Niche.com examined 15,000 towns and neighborhoods in South Florida and Boca Raton was named #17 “Best Neighborhood in South Florida to Live.” The website compared key factors of a location including the quality of local schools, crime rates, housing trends, employment statistics and access to amenities.   Boasting nearly 5 miles of beautiful beaches, world-class shopping and dining and an array of lifestyle options; Boca Raton consistently ranks among the best cities in the country.

 

 

Boca Raton Boasts 2019 Largest Real Estate Deals in Palm Beach County.  Both of the $100 million-plus commercial real estate deals in Palm Beach County in 2019 took place in Boca Raton.

 

It was another great year for the Cheribundi Boca Raton Bowl. ESPN reports an attendance of 23,178 and a viewership of 2 million households.

Our 30 second commercial “Make your next move your best move” was broadcast on ABC, airing three times during the game.

 

Make Your Next Move Your Best Move

 

 

We were happy to welcome the Orbcomm executive team to their new regional headquarters. The publicly traded, New Jersey based company is a leading global provider of industrial Internet of Things (IoT) and Machine-to-Machine communication solutions.

 

Fairway Friday Golf Event – We partnered with Recreation Services for an afternoon of networking and golf at the Boca Raton Municipal Golf Course.

 

Presentation at Business Development Board Stakeholders Meeting.  We shared our latest update at the Palm Beach County Business Development Board quarterly stakeholders meeting.
The attendees are made up of industry leaders from area government municipalities and regional economic and tourism agencies.

 

Boca Raton Named In Top 20 Boomtowns In America. SmartAsset.com analyzed economic data for 500 cities nationwide to find the “Top Boomtowns in America.” Boca Raton ranked 20th.  Boomtowns are characterized by prosperity and robust development and are often desirable places to put down roots. The economic growth provides employment opportunities and draws new residents.

 

Introducing the Boca Cube. As part of our new marketing initiative we’ve designed the Boca Cube. It’s a stress ball in the shape of a cube and our campaign message is Boca Raton – leave the stress behind.  The Cube’s will be making their way to our prospective companies in the North East early next quarter.

 

Boca Raton in the News:

We love sharing the good Boca word, but it’s even better to see it spread by national publications like the Wall Street Journal and Fox Business News .

Exodus to Florida from High Tax States – Fox Business

Florida’s Tax Benefits – Wall Street Journal

Presentation to Realtors Commercial Alliance.  Jessica Del Vecchio joined Mayor Scott Singer at St. Andrews School to discuss all things Boca Raton.

 

Boca. Business. Briefs.

Kroger (Vitacost.com) and Celsius announced their new partnership.

ADMA Biologics named company of the year by BioFlorida.

• Celsius Holdings (Nasdaq: CELH), maker of the drink brand Celsius, announced it is set to acquire Finland based Func Food for $24.6 million. Celsius plans to add the FAST Sport Nutrition line to its offerings.

• The 3.8-acre vacant land at 900 Peninsula Corporate Circle sold for $3.75 million. Dizengoff Boca Raton LLC sold the vacant property to Peninsula Ice LLC, managed by Hal M. Jacovitz and Jacob Dinov in Delray Beach.

Colliers International announced the $4.8 million sale of a 1.7-acre multifamily apartment community, Bouganvillas Apartments, in East Boca. Located at 1500 – 1650 NW Fourth Avenue, the apartment community is comprised of 23, two-bedroom and two-bathroom units throughout the three apartment buildings.

• For the first time in the university’s history, U.S. News & World Report ranked Florida Atlantic University in its list of “Top Public Schools” in the nation. U.S. News & World Report analyzed 1,400 colleges and universities across the country and FAU ranked 140th.

• The team at MoreVisibility – Leaders in SEO, SEM, Design & Interactive marketing celebrated its 20th year in business.

• Kroger, the largest supermarket chain by revenue and second-largest general retailer has moved to the Boca Raton Innovation Campus. The 43,000 square-foot-office is a national headquarters supporting Kroger’s digital businesses, including Vitacost.com which the company acquired in 2017. This was the largest office lease in Palm Beach County this quarter.

• Office Depot donated 18,000 backpacks full of school supplies through their Office Depot Start Proud! program.

Lynn University’s Social Impact Lab hosted an incredible and inspiring panel discussion about B Corporations. B Corps are a new kind of business that balance purpose and profit. With shared values based on corporate responsibility, sustainable companies like TOMS, Patagonia, Etsy and EILEEN FISHER are all doing well by doing good.

• According to the Palm Beach County Property Appraiser, Boca Raton’s real estate taxable values, which equates to about $25 billion, or 12.6 percent — are generated by 42,745 parcels.

• The 8.74-acre vacant site in the Park at Broken Sound sold for $7.5 million, equating to $858,123 per acre. The new ownership plans to build a new industrial project on the property.

FAU Tech Runway is an economic engine. In 5 short years, they’ve launched and assisted 72 startups, raised $63.5 million in capital, created 351 jobs and generated $64.7 million in sales revenue. At their recent Maverick Reception, Anthony Barbar, Dennis Crudele, Ron Tarro, Jan Bednar and John Duffy were each recognized for their valuable contributions to the Runway.

• There’s nothing better than two prominent Boca Raton based companies collaborating with one another. WDSrx – Woodfield Distribution LLC, and Twinlab Consolidation Corporation (TLCC) have forged a partnership involving multiple projects and several facilities.

Mill Creek Residential will relocate its headquarters to Boca Raton. The company will occupy 27,000 sq. ft in its new space.

• The Embassy Suites by Hilton sold for $29.5 million. Totaling 254,912 sq. ft., the hotel was built on the 6.4 acre site in 1985. The property last traded for $17 million in 2012. The recent sale equates to $111,977 per room.

Phoenix Tower International entered into an agreement to acquire 1,408 towers in Ecuador and 1,046 towers in Columbia. With these two acquisitions PTI will own and operate over 7,000 towers across Latin America.

Child Rescue Coalition’s Co-Founder Carley Yoost appeared on Dr. Oz to discuss child safety and the internet.

• We recently attended Lululemon’s new pop up store at Mizner Park. It was so awesome to see local company’s FROPRO and CELSIUS out to support this new Boca location.

Boca Kitchens and Baths was named Entrepreneur of the Year by South Palm Beach County SCORE. Clearly Loved Pets also took home the prestigious award.

4Ocean appeared on Washington Post Live to discuss ocean health and climate change.

 

 

About the Author

- In April 2015, Jessica Del Vecchio joined the City of Boca Raton as its first economic development manager and was tasked with leading the newly established Economic Development Division. Since its inception, the Office of Economic Development has successfully facilitated over a dozen corporate relocation and expansion projects; including one of the largest deals in Palm Beach County, which committed to creating 838 new jobs in Boca Raton. Prior to accepting the role, Jess spent 15 years in the finance industry. Attaining FINRA Series 3, 7, 63, 65 and Florida’s Life, Health and Variable Annuity licenses, she spent 8 years at Smith Barney and 7 years at Haar Capital, both based in Boca Raton. Del Vecchio has lived in Boca since 1991 and attended Lynn University. Graduating with a bachelor’s degree in Business Management and an MBA in Finance, Jessica proudly spoke at her graduation ceremony. The Office of Economic Development is ready to assist in any and all corporate relocation and expansion needs and may be reached at EconomicDevelopment@MyBoca.us.

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>