Quarterly Report
October, November, December 2021
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Sports and wellness play a vital role to our personal well-being, as well as the overall well-being of our community.
Sports and fitness related businesses, along with community sporting events, greatly impact the economy of Boca Raton. We have many local and nationally branded companies based in Boca Raton that focus on health, wellness and fitness. Some of the more notable companies are CELSIUS, Orangetheory and REDCON1.
This quarter Boca Raton hosted the Roofclaim.com Boca Raton Bowl and the TimberTech PGA TOUR Champions event. These events are the perfect opportunity to showcase our beautiful city to a national and international audience on ESPN and the Golf Channel.
The Office of Economic Development's goal is to assist Boca’s corporate community, including those in sports and wellness. With 13,000 businesses and 123,000 employees in our City we continue to work to provide resources and support as needed.
If there's more we can, or should be doing to assist your company, please reach out to us at EconomicDevelopment@MyBoca.us.
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The 2021 Roofclaim.com Boca Raton Bowl was held on Saturday, December 18th at FAU Stadium. The Hilltoppers of Western Kentucky University took home the win over the Mountaineers of Appalachian State.
With 1.6 million viewers, this years game drew the largest audience to date of any bowl game on cable TV.
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CBS12 reported that the area could expect to see a $2 million economic impact from this exciting annual event.
CW34 also reported the positive impact the game has on Boca Raton.
If you'd like to see more images from the Roofclaim.com Boca Raton Bowl, click HERE.
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Steven Alker earned his first PGA Tour Champions win with a two-shot lead to win.
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TimberTech Media Day was held at the Old Course at Broken Sound. 2020 Champion Darren Clarke was on hand to kick-off the event and share a few laughs with the media. |
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Since the start of COVID-19 (Q1-2020) through Q3-2021 (Collier's most recent available data) the City of Boca Raton has seen corporate sales activity equating to $265,700,000 and corporate lease deals equating to 328,856 square feet.
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Q3-2021 shows the largest lease and sale in the County taking place in Boca Raton.
For a relatively small city, with under 100,000 residents and 12 million square feet of office space, spanning 29 square miles, the level of commercial activity taking place in Boca Raton is impressive.
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3 of the TOP 10
FASTEST GROWING COMPANIES
in the region are based in Boca Raton
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Our Office placed an insert into the Wall Street Journal the day after Thanksgiving, also known as "Black Friday."
We partnered with the Boca Raton Museum of Art and the Boca Raton Historical Society.
Boca Raton is South Florida's business destination.
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With Phoenix Tower taking the top spot with $1.4 billion raised.
Congratulations to everyone that made the list!
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Serial entrepreneur Rodrigo Griesi is at it again!
NEPTUNYA Ocean Power is part of FPL's 35 Mules innovation hub, which supports startups, with the goal of fostering economic development throughout the region.
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Another great #StartUpBoca business is making headlines in RefreshMiami.
Cloudsyte is a Boca Raton- based startup that has developed a suite of tools to help manufactures and importers keep track of their supply chains.
With the recent supply chain issues caused by COVID-19, this company is experiencing incredible growth.
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Restaurant Row Groundbreaking |
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Waterstone Resort & Marina
Sells
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The 139-key BocaRaton hotel was acquired through an off-market transaction.
“We were drawn to Boca Raton, and South Florida in general, by the unabated flow of families and businesses relocating to this market,” Mr. Luthra added.
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It's hard to believe this video is 100% digital! Not only does it look completely real, it saved Nissan Chile thousands of dollars.
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Mizner Park has seen substantial growth in the last quarter. The Sub-Culture Group announced, Penelope, a New Orleans-style eatery coming in February, 2022.
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New storefronts and lululemon's exciting expansions are now open in
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Now open:
● Crown of Light – An industry leader in the diamond industry with distinguished magnificence and unprecedented cutting edge designs in their breathtaking jewelry.
● Donna Karan – Offering a vast selection of ready-to-wear designs that pioneered women’s fashion for the modern woman over 35 years ago.
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● lululemon Expansion – The iconic athletic apparel brand has more than doubled its space from a 3,000 to 7,000 square foot store.
● Vilbrequin – A vibrant, French luxury brand that specializes in swimwear and ready-to-wear that reflects the tropezian lifestyle the fashions were inspired by.
Coming soon:
● The Blue Dog Cookhouse & Bar – This casual dining experience is dedicated to serving up locally sourced, classic recipes with a healthy modern twist. Opening early 2022.
● Läderach Chocolatier Suisse – Artisanal Swiss chocolates produced from bean to bar such as the original FrischSchoggi™, as well as a large variety of pralines and truffles. Opening early 2022.
● OFFLINE by Aerie – Opening the first location in Palm Beach County, this modern activewear brand offers a line of sustainable clothing for real women. Opening early 2022.
● Mayor’s – The remodeled and expanded store defines luxury with the world’s most exclusive selection of iconic brands, fine jewelry and timepieces. Opening early 2022.
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Alina Residences was recently voted
"Project of the Year" at the 2021 Craftsmanship Awards.
The Craftsmanship Awards "spotlight the artisans and tradesmen behind the building of some of the most prominent structures in South Florida."
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Boca Raton
Ranks Among The Best
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Boca Raton makes it on Niche's South Florida 2021 Best Neighborhoods to Live in list.
Boca Raton ranks 89th on Livability's Top 100 Best Places to Live in America List.
WalletHub ranks Boca Raton as the 3rd Best Place in Florida for Retirees.
Money.com ranks Boca Raton in the Top Ten Places to Retire.
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National & International
Aviation Marketing
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5’3” x 3’6” lit tension fabric displays in New York’s JFK Airport
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The ask is simple. Make Boca Raton your business destination.
Considering a corporate relocation? Boca Raton should be at the top of your list. With a low tax rate and thriving corporate community, Boca Raton attracts industries from across the country. Boasting nearly 5 miles of public beaches, world class shopping and dining and an array of real estate options, Boca Raton consistently ranks among the best cities in the country.
Boca Raton - Make your next move, your best move.
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Sharing the Good Boca Word |
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If you're a member of a local business group or organization and would like an update on the city's economic development efforts, contact us at EconomicDevelopment@myboca.us |
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We presented our latest Economic Development Update to City Council this quarter. Want to see what we've been up to, or see how we can assist your company, click the link to watch.
Item 5.B.
Discussion starts at 1:25:23
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Loved sharing the good word with
We loved sharing all the great things taking place in our beautiful, business savvy city.
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We give a lot of presentations, but presenting to the
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Good News for
Palm Beach County
Employment
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Palm Beach County’s November unemployment rate as of December 17, 2021 is 3.5 percent.
PBC's rate is below both the 3.9 percent national rate and Florida’s 3.6 rate.
PBC's unemployment rate has been below both the national and state average for over a year.
Seeking employment? Check out their Jobs page to search for your next opportunity.
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Career Source Palm Beach County's in person and virtual job fairs are not to be missed!
For the latest schedule, visit their Events page.
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The Commercial Observer reports CIBD supplied $56.5 million in acquisition debt to acquire the Class A buildings situated on the 15-acre site at 2600-2700 North Military Trial.
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CNBC reports that one of the two largest deals of the quarter was made by ORBCOMM, which was taken private for $1.1 billion.
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Another great read in Refresh Miami - Boca based content marketing platform Rock Content scored $30 million, Series B funding.
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Grover Corlew reported that Waypoint Residential expanded its corporate headquarters into their newly acquired Bank of America Tower. The company signed a 10 year lease for 13,000 square feet.
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CP Group has entered into a partnership with DRA Advisors as owners of Boca Raton Innovation Campus. DRA Advisors has invested in CP Group's vision of the future of the campus and the development of BRiC as a true live-work-play destination.
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Economic Development
Strategic Marketing Campaign
& Community Outreach
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Digital And Print Information At Your Fingertips |
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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 emailed or picked up at City Hall. Please contact us and we'll make sure you get the information you need.
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City of Boca Raton
Community Development Block Grant
Rental Assistance &
Foreclosure Prevention Programs
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Are you a homeowner or renter residing in the City of Boca Raton and experiencing financial hardship due to COVID-19?
The City has coronavirus relief funds available for foreclosure prevention and rental assistance.
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Want to know more about
Boca Raton's Business Community?
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Check out our YouTube channel. Our commercials and short videos have been viewed over 67,000 times.
If you have a great idea for a video or would like to see an interview with a local CEO, let us know and we'll do our best to make it happen.
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Economic Development Social Media |
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If you would like to see what we've been up to, you can find us on the following social media platforms:
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Facebook: We have over 42,400+ 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.
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Have corporate news to share?
We'd love to hear (and share) it...
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Office of Economic Development | City of Boca Raton | 561-393-7761
201 W. Palmetto Park Road, Boca Raton, FL 33432
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