City of Boca Raton – Office of Economic Development Business Update
Volume XII | Oct, Nov, Dec 2020   The Office of Economic Development is here to assist Boca’s corporate community, especially during these uncertain times. With 13,000 businesses and 123,000 employees in our City we are proud of the Boca Raton business community. Although this quarter has been anything but “business as usual” some very exciting things have been happening over the past few months. In this quarterly report, we’ll share some of the victories and help spread the good word of our local companies. If there’s more we can, or should, be doing to assist your company, please reach out to us at EconomicDevelopment@MyBoca.us. National Marketing Campaigns  The Office of Economic Development, in collaboration with ALINA Residences, placed an insert in the Wall Street Journal. The four page insert was delivered to New York City residents and businesses on October 2, 2020.  The Office placed an insert in the Chicago Tribune. The two page insert was delivered to over 27,000 businesses and residences in the Metro Chicago area on December 20, 2020. Boca Beach House Groundbreaking  We assist with a lot of groundbreaking and ribbon cutting ceremonies; we’re pretty sure Boca Beach House Luxury Residences and Marina picked the perfect day (weather-wise) for their event. This project is off to an amazing start. 24 out of the 32 units have been sold – prior to breaking ground.   WELCOME TO BOCA RATON BOWLERO  Bowlero, the nations largest bowling operator, is taking over the vacant Strikes bowling alley and will be converting the 62,000 sq. ft. building into a high end bowling and entertainment venue.   Boca’s home town jet company, Privaira has been busy expanding throughout the pandemic. With a substantial increase in flights, an increase in their fleet and access to 5,000 airports nationwide, we’re proud to continue our partnership with them. Boca Raton Makes The List Best Places To Live In Florida  Boca Raton named #95 “Best Places To Live In Florida.” Niche.com compared 1,546 cities across Florida. Their grading factors included location, quality of schools, crime rates, housing trends, employment statistics and amenities. “FOCUS ON” Our new social media initiative highlights available commercial properties throughout Boca Raton SUBMIT YOUR PHOTO TODAY! If you own or represent an available commercial property in the City of Boca Raton, we’d love to highlight it on our social media platforms. Please send us a photo of the building and information about the property and we’ll do our best to share it and tag accordingly. With about 50,000 followers, our goal is to highlight local properties that are available for purchase, lease and/or sublease. We can be reached at EconomicDevelopment@MyBoca.us  Our first feature is: Penn-Florida Companies [One City Centre. During these unprecedented times, Penn-Florida Companies continues to prioritize the health and safety of their tenants and staff. In addition to an unparalleled location, tenants at One City Centre have peace of mind with direct suite access from the attached parking garage and elevator access to your private floor. Penn-Florida’s onsite property management team is committed to providing the essentials necessary for a healthy workspace. Contact them today to schedule your private tour at 561.750.1030. GrowFL Announces 50 Companies Worth Watching  Impressive list of GrowFL’s companies to watch. It’s great to see 4 of the 50 growing second-stage companies are based in Boca Raton. 4Ocean Aventusoft MPLT Healthcare The SilverLogic   The 2020 TimberTech Championship was played at the Old Course at Broken Sound. Darren Clarke took his first PGA TOUR Champions title, finishing with a score of -17.  The 2020 RoofClaim.com Boca Raton Bowl was played on December 22nd at FAU Stadium. Brigham Young University (BYU) defeated University of Central Florida (UCF) with a win of 49 to 23.  Office Depot Stands Up To Their #DepotDifference Motto  Office Depot truly stands up to the #DepotDifference motto. They recently distributed over 3.5 million dollars worth of educational supplies to students, teachers and Title I schools across the country. It’s so impactful to have such a charitable HQ based in our city.   Boca’s Orangetheory Fitness is the topic of discussion in December’s CNN Business. Opening almost 36 new studios since August – OTF is optimistic about the future of their business model through COVID.  Gift of Life Marow Registry is literally doing life saving work at their Boca Raton HQ. We’re lucky to have them based in our beautiful City.   Strategic Marketing Campaign & Community Outreach   Print Information At Your Fingertips  As part of our ongoing marketing initiatives, we continue to create informational pieces designed to highlight the business attributes of the City of Boca Raton. All of these items are available to you, our readers, and can be picked up at City Hall. Please contact us directly and we’ll make sure you get the information you need. Small Business Recovery Relief Grant Program Application Portal Is Still Open  For Boca Raton’s small businesses that have been negatively impacted by the COVID-19 emergency, the City has created a $500,000 Small Business Recovery Relief Program. The relief program will provide some eligible businesses within the City of Boca Raton with one-time grants of up to $5,000. The online application is available on the City’s website. Grants will be awarded to businesses on a first come-first eligible served basis. Businesses must complete an online application and submit additional required documents.  Good News for Palm Beach County Employment Career Source of Palm Beach County reports that PBC’s unemployment rate for September fell to 7%, bringing it below the 7.7% national rate and Florida’s 7.6% rate. If you’re looking for employment, check out their website. There are currently 3,789 job openings in Palm Beach County compared to less than 400 in April. WPBF reports Career Source Palm Beach County’s virtual job fairs are not to be missed! At the last fair they helped over 150 locals with their job search. Boca Raton In The News           CBS News Moneywatch reported in September that Palm Beach County had 99 signed contracts for new homes worth at least $1 million, compared to 28 a year earlier. CNBC reports prices in Miami, Ft. Lauderdale, Boca Raton and even parts of Tampa increased by a double-digit pace last quarter. Average home prices were up 11% in Boca Raton. ALINA Residences and the Boca Raton Museum of Art received a nice mention in Barron’s. As reported by Bloomberg, million dollar condo contracts jumped 300% in Palm Beach County, a sign that the area’s pandemic-fueled real estate boom is spreading beyond single-family homes. Boca Raton gets a nice mention in SFGate this quarter. “Today, folks also want to feel like they’re on vacation once the switch off their work computer in their home office.” “They’re seeking out towns like Boca Raton…” Our beautiful parks and beaches were the topic of discussion in the November issue of The Atlantic Current. Boca Raton gets highlighted in the NY Post. World Property Journal reports Palm Beach County home sales surged in October, 2020 as strong pent-up demand and record-low mortgage rates fueled transactions. Single family home contracts jumped more than 50% in Palm Beach County in November as the region continues to attract out-of-state buyers, as reported by The Real Deal. Boca Raton is part of the discussion of long term moves to South Florida in Mansion Global. Private equity firm TZP Group invests more than $30 million into SA Company. With the help of Avison Young, Meisner Electric, Inc. is set to relocate its corporate headquarters to 901 Yamato Road. Town Center Mall announced the opening of several new retail and dining options, with more expected to open in the coming weeks. Palm Beach County Employment Resources  CareerSource of Palm Beach County CareerSource PBC/Facebook Florida SBDC Network FloridaSBDC/Facebook SCORE of South Palm Beach SCORESouthPalmBeach/Facebook During the quarantine we dropped off informational flyers to the local non-profits that were providing food to those in need. The available resources are provided free of charge and have helped hundreds of people that have been negatively impacted by COVID-19. Many of these programs are still available. Reach out to our partners to learn more.   The Office of Economic Development continues our great partnership with The Boca Raton Tribune. Click on the “Boca. Business. Brief.” below for our latest business column. This partnership allow us to spread the good Boca word to 50,000 homes and businesses in and around our city. “Boca. Business. Brief.” The Boca Raton Tribune works hard to support local business. Their new app has an awesome (and free) feature. Add your business to their new business directory and be seen by locals. Economic Development Social Media If you would like to see what we’ve been up to, you can find us on social media.  Facebook: We have over 42,088+ followers! Have corporate news to share – contact us via Facebook Messenger. Twitter: For the latest news on Boca’s Corporate Community, follow us on Twitter @BocaDev. Instagram: Do you have corporate photos to share? Follow us @BocaEconomicDevelopment and tag us at #BusinessBoca. YouTube: Have you seen our YouTube page? We already have over 67,000+ views. Check us out @City of Boca Raton – Office of Economic Development. Have corporate news to share? We’d love to hear (and share) it… Office of Economic Development | City Hall | City of Boca Raton | 561-393-7761 | 201 W. Palmetto Park Road, Boca Raton, FL 33432 | EconomicDevelopment@myboca.us Visit Our Website |
