Boca’s Economic Development Report

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By: Jessica Del Vecchio Economic Development Manager Special to the Boca and Delray newspapers

Boca Raton’s low unemployment rate:

Last month, analytical firm Smart Asset analyzed Florida’s demographical data to find the best places to raise a family. The analysis methodology considered factors like crime rates, unemployment rates, and graduation rates. Not only did Boca’s demographical data put us in the top ten on the list, it also uncovered the impressive statistic that Boca Raton has the ninth-lowest unemployment rate in the country. Being one of the best places to raise a family and having various career opportunities available for these families, shows that Boca Raton really does have it all.

Business briefs:

International yacht charter company Yachtico relocated from Germany to the Research Park at FAU, in 2015. Since relocating, Yachtico has raised $2 million in private equity funding.  Offering more than 16,000 yachts throughout 40 countries, the Yachtico team was recently named one of GrowFL’s “Companies to Watch.”

Operating as a real estate investment trust, with 400 Boca based employees and 1,200 employees nationwide – wireless communications tower company SBA Communications has been upgraded to the S&P 500.  Headquartered in their 167,000-square-feet office building on Congress Avenue, SBA owns 15,922 sites in the United States and 10,275 towers in Canada, Central America, and South America.

Headquartered in The Park at Broken Sound, with 600 corporate employees, occupying 100,000-square-feet of office space, Cross Country Healthcare comes in third place on this year’s largest healthcare staffing firm’s list. With temporary staffing revenue of $820 million, Cross Country encompasses 5 percent of the market share. We recently sat down with their CEO, Bill Grubbs, to get his take on the benefits of being headquartered in Boca Raton. He credited Florida’s tax-friendly environment, access to a qualified workforce and the overall lifestyle offered in our region as some of the highlights.

Last year, Orangetheory Fitness purchased their 77,000-square-foot office building for $14 million and have been working on remodeling and revitalizing the property ever since. Last month, the Orangetheory team hosted a huge party – celebrating the official grand opening of their global headquarters. Boca’s Mayor and Council Members were on hand to officially welcome this vibrant, sophisticated brand to our beautiful City.

Have corporate news to share or looking to relocate/expand your company to Boca Raton? Contact the city’s economic development office at economicdevelopment@myboca.us or 561-393-7761. Want to see what we are up to? Follow us on Facebook @BocaEconomicDevelopment