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Recent Deals Impact the Economy in the Palm Beaches

Green trees stacked on coins with rising chart resembles growing economy.

As if the Palm Beaches couldn’t get any better, three deals recently landed that will erupt this prosperous county with more opportunities. This means more jobs, more wealth, and more growth. Living in the Palm Beaches just became more desirable with a few handshakes.

Check out what Northern Palm Beach County has its hands on and the excellent benefits each city will capitalize on.

United Technologies Corporation

In 2015, United Technologies Corp. (UTC) closed on a $17.25 million deal enabling them to build on a 30-acre lot on the corner of I-95 and Donald Ross Road in the City of Palm Beach Gardens. It’s called the Center for Intelligent Buildings and it’ll be a way for the corporation to showcase its modern building technologies, such as adjusting climate controls by the swipe of a card and cameras that control elevators to meet high volume demands like after business meetings. Essentially, it makes modern life simpler.

But that’s not all. The newly innovated technology hub will provide offices and conference rooms for researchers and other staff. The new site estimates to create 380 new jobs with an average salary of $85,000 within three years. According to real estate lawyer Cliff Hertz, other companies will follow because of UTCs high profile reputation. In turn, this will provide more jobs and more money to the Northern Palm Beaches.

BioCurity Holdings, Inc.

BioCurity Holdings, Inc. had the option of settling in Boston, San Diego, or other big cities but the company chose the Town of Jupiter for its already increasing popularity and acceptance of biotechnology firms. Plus, it helps to have The Scripps Research Institute and Max Planck Florida, a neuroscience institute, located nearby. BioCurity Holdings, Inc. focuses on innovative product development that helps patients undergo radiation therapy for multiple types of cancers. BioCurity will bring in nine new positions averaging a salary of $60,000. Additionally, it will need staff for marketing, legal and accounting.

Paradise Cruise Line

Formerly known as The Grand Celebration that traveled from the Port of Palm Beach to the Bahamas, Kevin Sheehan former CEO and President of Norwegian Cruise Line Holdings saw a great potential in this arena and closed the deal for an undisclosed amount on December 22, 2016.

As of right now, there is only one cruise ship sailing back and forth from the Port of Palm Beach to the Bahamas. Sheehan has plans to expand this fleet with the help of his managing partner, Oneil Khosa. Together, they want to add more fleets and increase capacity. In theory, this will bring financial gain to the port and create a staggering amount of new jobs.

These three deals are making headlines in Palm Beach County but they aren’t the only businesses coming to town. Another exciting venture is The Ballpark of the Palm Beaches, located in West Palm Beach, which will host spring training for the Houston Astros and Washington Nationals.

This field not only brings more baseball to the Palm Beaches, it will be a heightened experience that gives visitors complete exposure to everything, from spring training fields to workout facilities. The ballpark will be opened year-round to the public for events, meetings, and the like while creating over 200 new jobs.

The Northern Palm Beaches is already an amazing place. We know it, these companies know it, and we don’t want you to miss it. It’s never too late to find your tropical paradise. Whether you’re shopping around for your year round home, beach house or winter condominium, our agents at Tauber Real Estate Services have you covered. Call us at 561-623-5480 to get started with your home search.


The Palm Beach Post
The Real Deal




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