BDB FACILITATES THE GROWTH OF 28 COMPANIES IN NINE MONTHS
July 22, 2019 – PALM BEACH COUNTY, FLORIDA – The Business Development Board of Palm Beach County (BDB) is pleased to announce the growth of 28 companies that have either relocated to or expanded in Palm Beach County. All 28 companies have one thing in common; they have relocated or expanded using the BDB’s complimentary services. Whether it’s expedited permitting, making the right local connections, finding commercial or industrial space, or applying for grants that the company wasn’t aware of, the BDB is the economic development engine for Palm Beach County. Just within the past nine months, over 1,700 high salary jobs have been facilitated for Palm Beach County residents, creating a capital investment of $187 million through the BDB’s economic development efforts.
Over 10 of the companies coming to Palm Beach County are within the life science industry and will create over 350 jobs. A new proposed life science accelerator is planned for Jupiter, Gift of Life opened the Nation's first stem cell collection center in Boca Raton, and Expansion Therapeutics is creating cures for RNA-mediated diseases. Other companies that made moves include Algafeed, Alphazyme, Capzer Pharmaceuticals, Cytonics, Detraxi, Beacon of Hope CRO, 20Lighter, and Secret Sequence.
There were quite a few home-grown companies that the BDB assisted in expanding.Levatas, one of the most recent announcements creating 127 jobs, was just named the Senate Small Business of the Week by the U.S. Senate Committee on Small Business and Entrepreneurship. Another local startup, Digital Resource, just added 100 jobs in downtown West Palm Beach.
The fast-growing infotech sector gained a new regional headquarters for ORBCOMMin Boca Raton. Buyers Edge Platform, the leading nationwide restaurant and food service procurement platform, also opened offices in Lake Worth Beach. To the west, the BDB helped TechGarage not only expand to Belle Glade, but also hire local Palm Beach State College students as robotics coaches.
Two companies chose Palm Beach County over other competing locations. Founded in Canada, Fluorotek USA opened a new manufacturing facility in Riviera Beach with plans to employ 100. Convergence Investment Partners relocated from Grafton, Wisconsin to Palm Beach Gardens to join Palm Beach County’s robust financial industry.
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 all the way up to Jupiter. These companies will occupy nearly 1.1 million square feet of space. 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.