March 30, 2020 – PALM BEACH COUNTY – As the nation works to combat a new set of circumstances presented by the global COVID-19 pandemic, the Business Development Board of Palm Beach County (BDB) is working with many partners to ensure the public and economic health of our residents and businesses.
WHAT YOU NEED TO KNOW ABOUT THE BDB’S ECONOMIC DEVELOPMENT EFFORTS:
- 20 companies have announced a relocation to or expansion in Palm Beach County
- 1,981 high salary jobs have been created for local residents
- More than $45 million in capital investment created
- Company growth has occupied 490,000 sq. ft. of space in the County
- The BDB is working with 15 new companies that will grow in the County
- Anticipating 1,000 jobs to be added over the next couple of months
- Several local companies are helping local, state, and federal entities combat coronavirus
Company Growth Since October 2019
Over the past six months, quite a few companies chose Palm Beach County over other leading locations.
- The North West Company established an international headquarters in Boca Raton.
- Nano Dimension moved its main commercial activity to a new U.S. Headquarters in Boca Raton.
- Misfits Gaming consolidated operations from Los Angeles, CA and Berlin, Germany to a new National Headquarters and home base for global esports teams in Boca Raton.
- Eight of the companies that have grown in Palm Beach County are within the life science industry, creating 1,137 jobs since October 2019.
- A new proposed life science incubator is planned for Jupiter that will host up to 50 researchers.
- ADMA Biologics announced 350 jobs as the company scales up to produce three FDA approved drug products in Boca Raton.
- NYU Langone expanded its presence to Boynton Beach building a state-of-the-art call center to employ 500 people.
- Precision Esthetics added 30 new positions during its expansion in West Palm Beach.
- Other companies that made moves include ReachLink, FloraScentials, and BioCurity Pharmaceuticals.
- Parametric Solutions, an engineering firm specializing in gas turbine design, analysis, parts procurement, instrumentation, assembly, and testing expanded training efforts for 250 employees.
- Merchant Lynx Services, a leader in credit card processing, plans to add 180 employees to its workforce by 2021.
All of the companies are within high salary industries such as manufacturing, finance, infotech, life science, aviation/aerospace/engineering, distribution, and new corporate headquarters scattered throughout the county from Boca Raton to Jupiter. This demonstrates the importance of economic development and the Business Development Board will continue to foster growth for the local residents of Palm Beach County.
About Business Development Board
The Business Development Board of Palm Beach County is the official public/private economic development organization for Palm Beach County and Enterprise Florida. Founded in 1982 as a not-for-profit corporation, our primary purpose is to attract and retain new industry, business investment, high quality jobs and workforce development through corporate relocations, expansions and international trade. During the past five years, the BDB has assisted companies that have created more than 12,822 direct jobs with average salaries greater than $69,062, resulting in more than $777 million in capital investment to Palm Beach County and an economic impact that exceeds $6.87 billion. Additional information can be found at the BDB’s web site, BDB.org.