Read the latest insights on the City's business landscape and economic growth initiatives.

*Site Selection, 2025 Report, ** Significant Commercial Leasing Activity, Colliers International

Operating Cost Rankings

Boca Raton (Northwest) ranks #1 among major U.S. markets for lowest annual corporate HQ operating costs, according to a Site Selection report.

With estimated costs of $25.89 million for a 60,000 sq. ft. headquarters and 300 employees, compared to over $33 million in NYC or Silicon Valley.

That’s a $7+ million savings per year.

Add in Florida’s pro-business tax climate, local top-tier talent, and unbeatable quality of life, and it’s clear: Boca means business.

The Boyd Company, Inc.

Florida Tops the Charts in Economy

Florida ranks #1 in the nation for economy in U.S. News and World Report 2025 Best States list. With a top-ranked business climate and robust economic performance, Florida continues to be a prime location for growth—ranking #6 overall and #2 in education as well.

Boca Raton's home state is a sought-after economic engine, offering businesses the best of what the state has to offer.

Business Rent Tax Repeal Takes Effect October 1, 2025

Florida continues to strengthen its pro-business reputation with the repeal of the state’s business rent tax, effective October 1, 2025. This move eliminates a long-standing cost burden on commercial tenants, making it even more attractive for companies to operate and grow in the Sunshine State.

New Internship Portal Connects Local Talent with Opportunity

CareerSource PBC and the Business Development Board have launched Palm Beach County’s first-ever internship portal, Intern Palm Beach connecting local businesses with high school and college students (ages 18+) seeking hands-on experience. The platform is designed to bridge the gap between emerging talent and employers, supporting workforce development and professional growth right here in the county.

Hitting Times Square to Attract New Business

The City took a bold step to showcase Boca Raton as a premier destination for business relocation, most recently with a high-impact digital ad in the heart of Times Square, in NYC. The campaign targets decision-makers in this major market, highlighting Boca’s unmatched advantages.

Breaking Ground

Boca Paddle’s new paddle facility is officially underway, bringing another cutting-edge sports amenity to our City. The climate-controlled facility will feature 19 pickleball courts and 6 padel courts with additional amenities. Target opening in early 2026.

Happenings at Town Center Mall

The City's retail scene is thriving. The former Sears building has been sold for $23 million to Simon Property Group, marking another major investment in the mall’s future. This comes as Town Center welcomed 10 new shops and restaurants, including CEVICHE 105, Rowan, Ann Taylor, and Bonpoint.

Transit Oriented Development

Link at Boca, a major mixed-use development, is set to break ground this summer next to the Tri-Rail station on Yamato Road. This transit-oriented project will bring 340 new residences, with some workforce housing, and 24,000 sq. ft. of shops and restaurants, transforming a key transit gateway in Boca Raton.

Time is Running Out. Take the 2025 Business in Boca Survey.

Whether you manage a small business or lead a large company, your input is essential in shaping the resources that support our local economy.

If you haven't yet, take the a few minutes to help guide the future of business in Boca Raton. Take it today at 2025 Business Survey

Over the past few months, the Office of Economic Development has advanced key initiatives that continue to drive business growth. Highlights include:

• Connecting Talent with Employers: The Office, in partnership with CareerSource PBC and the Boca Chamber, successfully hosted its first regional job fair at Palm Beach State College, connecting top employers with skilled job seekers and showcasing the strength of Boca Raton’s growing job market. Stay tuned for more.

• Supporting Future Business Leaders: Targeting the next generation of business leaders, the Office presented to Lynn University's College of Business & Management Council to speak with MBA students about the City’s economic development plans and initiatives. It’s just one more way we support talent, share insights, and help shape our economic vitality.

• Market Introductions: Site selection and support for a variety of businesses, including a national food retailer, and health services and banking tech companies.

• Sustainable Actions: Collaborating with the City's Office of Sustainability to establish a Building Energy Efficiency Program (BEEP) aimed at improving energy performance and reducing electricity costs of commercial and multifamily properties.​

Cost Sharing with the City on Energy Audits. Own or manage a commercial or multifamily building in Boca Raton that's 10,000 square feet or larger? Learn more about participating in BEEP, by contacting Sustainability Manager Tina Batoh-Jennings at: cbatohjennings@bocaraton-fl.gov.

Accelerating Key Projects

The City's Concierge Service continues to provide hands-on service to support developments across the City, streamlining communication, coordinating with City departments, and helping move projects forward efficiently.

Recent projects include:

• Villas on the 5th Townhomes
• Glass House Residences
• Boca Paddle Facility
• University Village Mixed-Use Development
• Boca Regional Hospital

Find out how you can streamline your new commercial space, renovation or expansion today.

Contact Neha James, the City of Boca Raton's Operations & Business Liaison Manager at njames@bocaraton-fl.gov.

More businesses are choosing Boca Raton as the place to grow. As our community evolves, we look forward to continued success and lasting contributions to our economy. Newcomers include:

Boca Raton's Mayor Singer appeared on Fox Business to spotlight Boca Raton as a top destination for businesses, encouraging New York companies to relocate in light of recent political shifts highlighting Boca’s strong economy and unmatched quality of life.

The Farmer's Dog, a fresh pet food company, has leased over 19,000 sq. ft. at Meridian Center I in The Park at Broken Sound, and recently held a ribbon-cutting celebrating 150 new jobs to the area. The smart product company brings

even more energy to our thriving business community.

• Real estate giant to pilot Boca Raton startup's technology, CBRE will test Blue Frontier's energy-efficient HVAC system in Delaware.

• Coworking company Venture X opens 30,000-square-foot coworking space in Boca Raton.

• Top talent seeking Boca Raton, Former Bear Stearns, Goldman Sachs bankers launch Boca Raton private equity firm from the South Florida Business Journal.

• The entrepreneurial landscape in the City continues to grow - Boca Raton’s Research Park at FAU taps new leasing team to drive innovation and growth.

The City’s varied corporate inventory includes corporate campuses, downtown destinations, historic complexes, customizable spaces, live-work-play options, and more. Some of our top corporate properties are featured below.

601 S. Federal Highway

• Built in 2002
• 850 SF Space
• $30 SF/YR
• Ideal Downtown Location
• Walk to Restaurants
• Parking Available

Peninsula Plaza/2424 N. Federal Highway

• Renovated in 2019
• 1,589 - 42,328 SF Spaces
• $32 SF/YR
• Class A
• Atrium, Fitness Center, Walk to Restaurants

Creating a strong, business-friendly environment has always been a priority for the City of Boca Raton, and today’s initiatives continue to position the City as a leader in innovation and economic growth.

City Partners with Homegrown Tech Company to Launch Autonomous Shuttle in Mizner Park

Guident, a local innovator that began at FAU’s Tech Runway, is bringing its cutting-edge autonomous vehicle technology to Mizner Park with a new three-month pilot shuttle program, recently approved by the City. The City continues to keep mobility at the forefront of its short and long term strategic planning.

Business in Boca Raton

Discover more about Boca Raton’s thriving business environment by reviewing the 2024 Annual Report, which highlights key economic achievements and initiatives.

Miss our last 2025 bi-monthly report? Read it here.

Visit the Office of Economic Development to see how the City continues to support business growth and innovation. Stay connected and be part of our success.