Published On: Fri, Apr 10th, 2020

City of Boca Raton – Office of Economic Development.

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Jess Del Vecchio
Economic Development Manager

With everything surrounding COVID-19, last quarter seems like a very long time ago.  We developed our recent report, not sure if we were going to share it due to all of the confusion and concern regarding the pandemic – but compiling it gave us some semblance of normalcy. Maybe it will do the same for the readership of the Boca Tribune.

Our office is here to assist Boca Raton’s corporate community in any way possible, especially during these very challenging times. With 13,000 businesses and 123,000 employees in our City, we’re receiving a number of inquiries from corporate executives, small business owners, employers and employees. Most are interested in knowing what programs may be available to assist them. In an effort to provide this information as comprehensively as possible, we developed this Resource Guide . Our hope is that these resources will provide you or someone you know with much needed support. Although we are working remotely, our office is ready to answer any questions you may have. Thank you, stay well.

The Shrimp Tank Podcast

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Who knew podcasts were so much fun? Absolutely loved sitting in as guest co-host on The Shrimp Tank – Boca Raton’s interview with the CEO of DNC Media and we look forward to future collaborations with this innovative team.

BOCA RATON “These dog beaches are what dreams are made of.”

Forbes.com profiled Boca Raton’s Spanish River Park “Bark Beach” and stated it’s a great place to “watch the setting sun hand in paw and admire the beauty of Florida’s Atlantic Ocean together.”

Business in Boca – find your balance. Work hard, play hard.

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 to live, work, learn and play. Boca Raton has it all.

Boca Raton “Earns its Reputation as a Golfer’s Haven”

Boca Raton gets some well deserved attention as a “golfer’s haven” in Mansion Global . “Dedicated players can spend every day on a different course, or get to know the same sand traps at their home club.”

We love the team at Gift of Life Marrow Registry. We were happy to join them for their annual Steps for Like 5k Run/Walk. The event was held on the campus of Florida Atlantic University. The race registered 64 teams totaling 900 participants and raised $98,867.

ALINA Residences “Topped Off”

Alina Residences celebrated its topping off with a celebration to showcase the property. The views are absolutely amazing. Alina Residences is a luxury community in Downtown Boca. The property boasts amenities including a private yoga room, a sculpture garden and dog park. The expected occupancy is slated for late 2020.

Strategic Marketing Campaign & Community Outreach

Over half of the corporate headquarters in Palm Beach County are located in Boca Raton.

Information at Your Fingertips

As part of our ongoing marketing initiative we continue to create multiple products designed to highlight the City of Boca Raton. All of these items are available to our business community and can be picked up at City Hall (once our Office reopens). Please contact us directly and we’ll make sure you get the information you need.

Royal Palm Residences

The Office of Economic Development celebrated the opening of the new Royal Palm Residences sales center. The project is located at 475 E. Royal Palm Road. The residences consist of forty-eight luxury boutique units, including six penthouses and four villas.

State of the City Address

The Office participated in the City’s first State of the City presentation by Mayor Scott Singer. The event was held at the Mizner Park Cultural Arts Center and was open to the public. It was a great opportunity for us to meet with the public and share with them the services we provide.

In Florida, Homeowners Come for the Weather and Stay for the Tax Relief

The Wall Street Journal reports that “municipal taxes, local taxes, play a big role in the decision, more so than the mortgage [interest] deduction.” Luxury markets throughout Florida, defined as the top 10% of listings, have outperformed most luxury markets across the country this year.

Palm Beach County Business Development Board Familiarization Tour Presentation

Jessica Del Vecchio presented an update to the site consultants attending the Palm Beach County Business Development Board Familiarization Tour of 2020. She presented the assets of Boca Raton and illustrated how companies can benefit from calling Boca Raton home.

Boca. Business. Brief.

  • Two of the five companies in Palm Beach County that outperformed the S&P 500 this past decade are based in Boca Raton. SBA Communications (Nasdaq: SBAC) was up 630 percent and GEO Group (NYSE: GEO) increased 227 percent.
  • ADT acquired its largest independent dealer, Defenders for approximately $381 million. Defenders has approximately 2,900 team members across 130 field branch locations and has developed a best-in-class direct marketing skill-set.
  • True Green Enterprises bamboo recyclable/compostable beverage cups and bamboo straws were used by PepsiCo at Super Bowl LIV on February 2nd at the Hard Rock Stadium in Miami.
  • Butters Construction & Development bought the 47,585 sq. ft. Class A office building at 950 Peninsula Corporate Circle for $13M, equating to $273 per sq. ft.
  • Florida Atlantic University held their 28th Annual Business Leaders of the Year ceremony at the Boca Raton Resort & Club. Rita & Rick Case, owner of Rick Case Automotive Group were the 2020 recipients of this great honor.
  • Phoenix Tower International (PTI) entered into agreements to acquire 1,408 towers in Ecuador and 1,046 towers in Columbia. With these two recent acquisitions, PTI will own and operate over 7,000 towers across Latin America.
  • Associate Professor of Marketing from Lynn University, Andrew Burnstine, was recently featured on a segment of WPTV’s the List. Professor Burnstine discussed the benefits of recycled textiles and the environmental impacts of sustainability.
  • The Hispanic Entrepreneur Initiative(HEI) recently launched in Boca Raton. This 501(c)(3) was created with the mission to empower the South Florida Hispanic Entrepreneur community through educational programs, to increase sustainable business success in the U.S. and to optimize the quality and length of their learning cycle as business owners.
  • The 175,715 sq. ft. building at 700 Banyan Trail sold for $32M equating to $178 per sq. ft. The building includes a warehouse, office and sits on 11 acres. The property sold for nearly double its last sales price in 2017.
  • Publicly traded Newtek Business Services Corp. (Nasdaq: NEWT) relocated its headquarters from Long Island, New York to Boca Raton.
  • Nano Dimensions (Nasdaq, TASE: NNDM) moved is main commercial activity to the USA, establishing its headquarters for the Americas in Boca Raton. The headquarters will become the company’s main sales, customer support, logistic and training center.
  • A.D. Henderson & FAU High School cut the ribbon on their new Owls Imaging Lab. The research lab is the only one of its kind in the world.
  • Headquartered in Boca Raton, Celsius Holdings (Nasdaq: CELH) inked a deal to sell its flagship product at 1,500 Walmart stores nationwide.
  • PredaSAR is building the world’s largest and most advanced Synthetic Aperture Radar satellite Constellation. They successfully completed their seed financing round of $25M.
  • 4Ocean moved their corporate headquarters to the Research Park at FAU where they will continue their mission to end the ocean plastic pollution crisis through global cleanup operations.
  • The property located at 100 W. Royal Palm Road sold for $1.4M. This 4,400 sq. ft. building sits on just over a third-of-an-acre. The property last sold for $600,000 in 2012.
  • Boca Raton Regional Hospital held a grand opening ceremony and cut the ribbon on their new Schmidt Family Parking Facility.

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 [email protected]

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