West Palm Seaside is not only a sun-soaked getaway for retirees and winter vacationers — it is quickly turning into one of many nation’s most sought-after enterprise locations.
As tech companies, monetary giants and fast-growing startups transfer in, prime executives say the town’s way of life, tax local weather and expertise inflow are rewriting Florida’s financial identification. And for leaders already investing there, one message to different firms is evident: “Come and see for yourselves. You’ll find that it’s a lot easier than you think.”
“I think if you were starting a job or starting a business, having certainty is always top of mind. And the certainty to do business, to get things done, there’s no better place to do that than South Florida. And we believe West Palm Beach and Palm Beach County are really at the epicenter of that,” Associated Ross Govt Vice President Jordan Rathlev additionally advised Fox Digital.
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Over the past 5 years, Palm Seaside County has seen the relocation of greater than 140 firms, the creation of 13,110 direct jobs and greater than $1.12 billion in capital investments, in response to the Enterprise Improvement Board of Palm Seaside County. For the reason that 2020 U.S. Census, West Palm Seaside has seen the biggest inhabitants acquire within the county at practically 10,000 new residents.
West Palm Seaside has seen tens of billions of {dollars} in enterprise investments and 1000’s of latest jobs and residents in recent times. (Getty Photographs)
Names like Citadel, Goldman Sachs, BlackRock, Vanderbilt College and tech-health agency Visium have all expanded their presence in West Palm Seaside, and enterprise has been nonstop for individuals like Rathlev, who assist these firms discover their supreme actual property.
“Florida said, hey, we’re open for business,” Rathlev stated. “We saw a huge number of the financial service firms that are already based in the Northeast and other parts of the country have a small footprint, and as the pandemic shifted to, where do people want to live, where do businesses want to grow, they all started to recognize that South Florida is really a great place to do business. And we’ve truly benefited from that from all sectors of the economy.”
Causes for a corporation’s relocation to West Palm Seaside are not any completely different from the remainder of South Florida: expertise mobility, low taxes, prime quality of life and a pro-business local weather.
“We’ve got a bunch of employees here who are delighted to be here simply because of the lifestyle and the connectedness that West Palm Beach provides,” Rajchert — who moved Visium from Orlando — famous. “Willingness to move is very, very, very good. So what we’re finding is that we have a national talent pool that’s prepared to move here.”
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“What has happened, and what I’ve noticed since I’ve been traveling here regularly over the last few years, is this big transformation from a lifestyle destination to a career destination,” Rajchert stated.
“I think there’s no question when a company relocates here … the number one thing that they think about is, how do we attract and retain talent? That becomes the number one emphasis for anything that we’re trying to do,” Rathlev added. “We’ve seen the average age drop from 45 to less than 39 in West Palm Beach within a five-or six-year period.”
Rajchert finally selected Rathlev and the Associated group to assist him decide his new workplace and lab area, the place each proceed to gas a partnership as a substitute of a singular business actual property transaction.
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“This move could not have been easier. We’re connected with an architect, with general contractors. We were able to stay in control of the budget and the program,” Visium’s CEO stated. “It’s worked a lot smoother than any of the other moves that I have done in my career.”
“Look at the facts, listen to the story, and then come and see for yourselves.”
– John Rajchert
“As it relates to Visium, not only are we hosting them, but we view them as partners … We’re using their technology in our buildings,” Rathlev stated. “We’re really creating great communities in any city that we find ourselves in.”
Each fast-growing metropolis faces rising pains. For metropolis builders like Rathlev, potential challenges to West Palm Seaside’s momentum embody site visitors, affordability and sustainable planning and growth.
“There’s no question that as a city grows, you’re going to be faced with challenges, I think, primarily on the infrastructure side. And I think some of the biggest criticisms of some of the cities that maybe grew a little too fast or weren’t thinking about infrastructure are traffic and housing affordability,” the developer stated.
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“Housing affordability always comes into the conversation,” Rathlev continued, “because you need people of all income bands, all job descriptions to be able to afford a house and live in the community where they’re working … And I think for us to grow as a region, again, having the optionality for price points in the housing market and being thoughtful of how we think about mobility and traffic will be key to the growth of this region.”
The enterprise leaders supplied a name to motion to different entrepreneurs who need to make West Palm Seaside their residence base, the identical week the financial growth businesses of Palm Seaside, Broward and Miami-Dade counties are touring to New York Metropolis to pitch extra companies to maneuver south.
“From a weather perspective, from a culture perspective, just environmentally, it works for me. So it’s an easy move,” Rajchert stated. “And yes, you will see a lot more of me as the years come and go.”
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“When we opened this office eight years ago, four of us called West Palm Beach home. There’s over 160 today,” Rathlev mirrored. “This is where people want to be and this is where you want to raise a family.”
“There’s no question that people are fully, fully aware of what’s happening here. And I think we’re [in the] very early days for what’s gonna be a tremendous growth story to come.”
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