Boca’s Economic Development Report

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

The Boca Raton Resort was featured on CNBC’s Power Lunch earlier this month. Due to the brutal hurricane season in the Caribbean, winter travelers are relocating their vacation destinations to sunny South Florida. According to CNBC, occupancy rates in our area have jumped 8 percent in the past four weeks alone. Boca’s travel season has always been one of significance; time will tell if this recent demand will continue throughout the coming months.

Boca Raton Bowl

The 4th annual Boca Raton Bowl is set for 7 p.m. on Tuesday, Dec. 19 at FAU Stadium, making Palm Beach County one of only 35 communities in the country that hosts a NCAA FBS sanctioned bowl game.

The game, which is televised on ESPN has a direct spending impact of $5.6 million and a total economic impact of $10.4 million for our region. The stadium fits about 29,000 fans and tickets are on sale now. For more details, or to purchase tickets, you can visit them online at TheBocaRatonBowl.com

Bluegreen Vacations

Bluegreen Vacations filed a preliminary prospectus with the Securities and Exchange Commission and is preparing for an initial public offering to raise $100 million.  The filing did not disclose when the IPO would launch but provided the ticker symbol of BXG, with the exchange listed as the NYSE. All proceeds of this offering would benefit BBX Capital; a Ft. Lauderdale based company that acquired all of Bluegreen’s shares in 2013.

Robb & Stucky’s grand opening

Earlier this month, the upscale furniture and household décor retailer hosted their ribbon cutting in the setting of their gorgeous two-story, 30,000-square-foot showroom on Federal Highway.  This location marks the fifth Robb and Stucky in the state. Boca’s Mayor and Council Members were on hand to officially welcome the team to their newest location.

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