Palm Beach County Business Magazine (Winter 2014) by Passport Media Group

Large Land Parcels | Urban League | World Leaders Conference | Relocations and Expansions

PA L M B E AC H C O U N T Y

A Quarterly Economic Development Publication

Winter 2014

Building A Better

Palm Beach County

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Construction Activity On the Upswing

Hedrick Brothers Celebrates 35th Anniversary

News & Events Council Reaccredits BDB Investment Fund CEOs Praise Palm Beach County Office Depot HQ in Boca Raton Relocations and Expansions

Major Land Parcels Ready for Development

West Palm Beach Unveils Plan For Downtown Financial District

World Leaders Conference

ON THE COVER:

16 Distinguished Speakers come to PBC March 5-6

Image by Robert Stevens

County Partnerships Help build a Stronger Economy

Urban League Promotes Ecconomic Empowerment

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CONTENTS

Inaugural Women’s Leadership Institute Executive Women of the Palm Beaches Hosts Event

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Welcome from the President TO OUR MEMBERS AND PARTNERS: Upon reading this issue of Palm Beach County Business you’ll learn about new commercial and residential projects underway in Palm Beach County and about development opportunities pertaining to major available land parcels. Additionally this issue features noteworthy news regarding relocation and expansion projects and information about upcoming community events. I hope you enjoy reading Palm Beach County Business which is made possible with the support of the Palm Beach County Board of Commissioners, Workforce Alliance, NextEra Energy, Inc., Florida Crystals, and Suffolk Construction. As we continue to further the growth of Palm Beach County’s wide-ranging economy, please continue to follow us on Facebook and Twitter and watch for our e-newsletters to stay well-informed on economic development and business news and events in Palm Beach County.

Kelly Smallridge President and CEO

Business Development Board of Palm Beach County, Inc. 310 Evernia Street | West Palm Beach, FL 33401 561.835.1008 | www.bdb.org Palm Beach County’s Economic Development Resource

Published by » Passport

Publications & Media Corporation

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Construction Activity on the Upswing New commercial and residential projects creating new jobs From Boca Raton to South Bay, Jupiter to West Palm Beach, construction activity is on the rise throughout Palm Beach County. “After a couple of tough years, the market has taken off again,” said Rex Kirby, president and general manager, Suffolk Construction’s Southeast region in West Palm Beach. “Our volume is nearly back to where we were in 2007 before the downturn.” Overall, Suffolk now has a 180-person workforce in the region, along with strong relationships with subcontractors. “We have an excellent pool of construction talent in Palm Beach County,” Kirby said. Suffolk has three major Palm Beach County projects underway or starting in the first quarter, including Tower 155, a 10-story residential condominium in downtown Boca Raton for Compson Development. The tower has 209 units and 344 parking spaces. Also in Boca Raton, Suffolk will be constructing Sinai Residences for the Jewish Federation of South Palm Beach County. This project will include 216 independent living apartments, 48 assisted living apartments, 24 memory support and 48 skilled nursing suites in three and four story structures. A separate wellness pavilion, which contains a salon, spa, fitness and aerobics gyms,

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and enclosed pool, is planned for the project. Suffolk is also preparing to break ground on Gateway Tower, an office tower in West Palm Beach being developed by The Related Group, as well as two build-to-suit office projects. In South Bay, Suffolk is modernizing Rosenwald Elementary School, and pursuing LEED Silver. “Our strong partnership with the School District of Palm Beach County continues on this exciting project,” said Kirby. The majority of the existing campus will be demolished to allow for 75,525 square feet of new construction. “We have definitely noticed an upturn during this year,” said Judith Schumacher, vice president, Anderson-Moore Construction in Lake Park. “We have hired three new project managers and five new superintendents, as well as additional office and support personnel.” Anderson-Moore’s new projects include a Morgan Stanley build-out in Palm Beach Gardens, renovation of Forte Interactive‘s building in West Palm Beach, three new buildings in Wellington, an exterior renovation of

PGA Plaza in Palm Beach Gardens and construction of a Trader Joe’s and Ulta. “We believe that construction will continue to improve in Palm Beach County and look forward to 2014 and beyond,” Schumacher said. Another fast-growing company is Allied Capital & Development, which has tripled in size over the past three years. “We now have a thriving and bustling 20person team, and we look forward to hiring more in 2014,” said Nicholas Mastroianni, vice president. The North Palm Beach company’s signature project is Harbourside Place, a $150 million mixed-use development that will serve as a new downtown area for the Town of Jupiter with waterfront lodging, dining, shopping and entertainment. “We were able to begin the project in conjunction with the economy’s upswing,” said Mastroianni. “We look forward to opening in summer 2014, and helping our economy further regain its footing and prosper.” Moss & Associates, one of the nation’s largest construction companies with 160 employees, is the contractor for Harbourside Place, which will feature the Wyndham Grand hotel, a 112,000-square-foot, 179-room establishment with ballrooms and conference suites. The project will also have 60,000 square feet of Class-A office and cultural space, a marina, rooftop plaza, and an open-air amphitheater as well as restaurant and retail space. It is the final segment of Jupiter’s 2.5-mile, $510,000,000 community-enhancement project.

Moss & Associates

Anderson Moore Construction

Building Permits Increase in City of West Palm Beach Building permits are on the rise in the City of West Palm Beach, reaching 9,509 in fiscal year 2013 – the highest level in five years, according to Rick Greene, development services director. “We believe that new development has to be a public-private partnership, we have been shortening our plan review timelines over the past few years,” he said. “At the end of the day, we are looking for great projects that benefit the residents and visitors to our city.” The biggest current project is the Palm Beach Outlets, a retail center originally built in 1967 now being redeveloped by New England Development. Now under construction, the outlet mall with have more than 100 new stores. Other major projects include residential, office and a 400-room convention center Hilton hotel. “Overall, there is about $1.4 billion in new construction value going through our system right now,” Greene said.

Since 2013, Greene and the city staff have been holding quarterly meetings with real estate owners, developers, planners and architects to discuss project plans, answer questions and look at ways to improve the city’s service. “It’s an opportunity to share our thoughts with the development community and let them know more about our department.” Greene added that the city will be gradually rolling out a new software application that will allow different departments to review building plans and permits at the same time.

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Construction

Hedrick Brothers Celebrates 35th Anniversary

Led by Dale Hedrick, founder and president, Hedrick Brothers Construction celebrated its 35th anniversary on January 11. The family-owned West Palm Beach company, founded in 1979, draws on the heritage of four generations of construction professionals. In fact, the company’s first construction job was the kitchen remodel of a 1950’s-style home in Palm Springs - a house Dale Hedrick’s grandfather built. Since then, Hedrick Brothers has produced a diverse portfolio that ranges from oceanfront and equestrian estates in Palm Beach, Jupiter and Wellington and luxury retail boutiques on Worth Avenue, to historic restorations, educational facilities, houses of worship, financial institutions, industrial, municipal, country clubs, professional offices and commercial projects. “Our diversity strategy allowed us to grow during the downturn and improve the talent of our team,” said Hedrick. “We also intentionally stayed focused on the quality of our product and customer service in spite of tremendous pricing pressure. Now that most markets are improving, we are poised to scale our growth strategically because of the depth and quality of the talent we have added over the last three years, as well as updating and advancing our technology.” Hedrick Brothers’ accomplishments include Palm Beach County

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landmarks such as the 1916 Palm Beach County Courthouse and The Harriet Himmel Theater, as well as the Flagler Kenan Pavilion in Palm Beach, which replicates a turn-of-the-century railway station, matching the architectural style of The Henry Morrison Flagler Museum. Today, the company is also committed to sustainability, having recently completed its tenth project to receive a Platinum, Gold or Silver LEED certification. “We are passionate about building quality projects for our clients and their design teams,” said Hedrick. “From the pre-construction and bid process through the last coat of paint and final piece of trim, our company’s foundation is based on quality, relationships, trust, commitment, and most importantly integrity.” Hedrick Brothers’ recent accomplishments include a new assembly building for Pratt & Whitney in Jupiter, interior renovations to Oxbridge Academy of the Palm Beach‘s main building in West Palm Beach, and expansion and renovation of the South Florida Science Center & Aquarium in West Palm Beach. “We are finding because of the reduction in capacity of many construction firms, owners are rediscovering the importance and value of bringing our team on early before the project begins,” Hedrick said. “This enables us to establish and hold budgets firm, reduce operating costs using sustainable approaches and aggressively meet schedules. It’s part of our commitment to long-term quality.”

Inaugural

Women’s Leadership Institute hosted by Executive Women of the Palm Beaches

Ann Rhoades Keynote Speaker

Executive Women of the Palm Beaches hosted its first Leadership Institute on Friday, January 31, from 8 a.m. to 5 p.m. at Kravis Center’s Cohen Pavilion. The keynote speaker was Ann Rhoades, JetBlue airline executive, president of People Ink and best-selling author, and the day-long program included breakout sessions, networking opportunities, breakfast, lunch and cocktails. “Our inaugural EWPB Leadership Institute provided a unique and significant experiential forum that inspires exemplary men and women to be their best as they chart their career paths, develop their talents and expertise, and achieve success,” said Charlotte Pelton, president elect, Executive Women of the Palm Beaches (EWPB). “We are reaching out, not only to our members but to the broader community as well.” The context for the institute, presented in partnership with PNC Bank, was a “Curriculum for Staying on our Leadership Edge – Essential Conversations and Connections,” emphasizing the value of cutting-edge information, tools and methodologies as well as encouraging the formation and development of strategic relationships. “Each conference event presented opportunities to connect and converse with a wide diversity of community leaders, providing a space for meaningful dialogue and interaction,” said Pelton. “The institute was an invitation for men and women to think together as they expand their horizons both professionally and personally.” EWPB's institute had content designed for entry-level professionals, mid-career managers aspiring to leadership/C-suite positions, entrepreneurs, business owners and sole practitioners, as well as senior executives seeking to build connections with their peers. For more information: www.EWPB.org.

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News Events Council Reaccredits BDB Once again, the International Economic Development Council (IEDC) has recognized the Business Development Board of Palm Beach County (BDB) as an Accredited Economic Development Organization (AEDO). Originally accredited in 2007, the BDB was reaccredited by IEDC in November of 2013 after undergoing a very rigorous evaluation process, and is now one of just 38 economic development organizations to receive this national accredition. “The BDB displays the professionalism, commitment, and technical expertise that is deserving of this honor,” said IEDC President and CEO Jeff Finkle. The AEDO program is a comprehensive peer review process that measures economic development organizations against commonly held standards in the profession. The program consists of two phases: a documentation review and an onsite visit. “The distinction of accreditation by IEDC as an AEDO is a source of pride for the BDB, its employees, stakeholders and Palm Beach County,” said Kelly Smallridge, president and CEO. “The AEDO designation demonstrates the BDB’s commitment to marketing Palm Beach County as an ideal business location and showcasing the competitiveness of our business environment.” The International Economic Development Council is the largest membership association serving economic and community development professionals in the world with more than 4,400 members nationwide and abroad.

Investment Fund CEOs praise Palm Beach County In the next decade, Palm Beach County will become one of the financial centers of the U.S. hedge fund industry, according to Anthony Scaramucci, managing partner, SkyBridge Capital. “New York is known for its high taxes and cold weather,” Scarmucci said at the Business Development Board’s quarterly luncheon on Nov. 14 at PGA National Resort & Spa in Palm Beach Gardens. “When taxes reach a tipping point, you migrate elsewhere. This is a mobile world and Palm Beach County is ahead of the curve.” Scarmucci was joined at the event by Sean McGould, president and co-chief investment officer, Lighthouse Investment Partners, McGould, a Palm Beach County resident since 1996, has grown his firm into a global business with offices in New York, Hong Kong and London that now employs 77 people. “Our success shows that it’s possible for Florida firms to grow a global customer base,” he said. “Our investors come from six continents, and they are all envious that we are based here.” At the luncheon, BDB chairman Frank Compiani welcomed attendees, and Kelly Smallridge, BDB president and CEO, spoke about the wave of media attention that Palm Beach County is receiving due to its ability to attract private equity funds, hedge funds and other financial firms from the Northeast U.S. “There continues to be a great deal of interest in moving to our county,” Smallridge said. “We have a task force dedicated to supporting

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Anthony Scarumcci

Sean McGould

this initiative, which is so important to the future of our region.” Marty Cass, managing director, Alpern Rosenthal, which sponsored the event, invited attendees to support a summer camp for underprivileged children in Riviera Beach organized by former NBA star Otis Birdsong. In a question and answer session after the presentations, McGould said Palm Beach County’s attractions to financial firms go beyond taxes to include a skilled workforce, cultural attractions and high quality of life. “Living here, I have more time for myself, my family and my community,” he said. “The cost of living is much lower and our schools are excellent. We are very proud to be part of this community.”

Relocations & Expansions With support from Palm Beach County, Enterprise Florida and local municipalities the Business Development Board of Palm Beach County facilitated these corporate expansions and relocations during October 1 - December 30, 2013: Sancilio and Company, Inc. (SCI), a fully integrated pharmaceutical company, is expanding its drug manufacturing facility in Riviera Beach to meet the increase in demand for its products. SCI will make a significant capital investment to expand its existing space by more than 20,000 square feet and add 25 new positions to its current workforce of 103. The BDB provided SCI with permitting assistance for its recent renovation of existing space and expansion in additional contiguous space. SCI’s founder and CEO, Dr. Fred Sancilio, said “Issuance of building permits by the City of Riviera Beach in a timely manner was critical to SCI’s ability to continue preparations for the manufacturing capacity required by it and its partners in 2014 and beyond. Without the support of the City of Riviera Beach and the BDB this would have been difficult, if not impossible. We are very fortunate to have local, county and state officials who understand how our ability to meet the demand for our products and those of our partners translates into more local jobs and a stronger local economy.” Delaware-based Argent Group, a financial services company, is locating a new office in Palm Beach County. The company will lease 4,700 square feet of space at 221 Clematis Street in West Palm Beach, make a capital investment of $500,000 and add 30 new jobs with an average wage of $150,000. “Argent’s decision to relocate to the heart of West Palm Beach is the latest sign that downtown West Palm Beach is becoming the newest, hottest location for the financial sector,” said West Palm Beach Mayor Jeri Muoio. PMR, a provider of catalytic converter recycling services, recently secured a 5,000-square-foot manufacturing facility in Delray Beach. Based in Montreal, the company will make a capital investment of $650,000 and create 25 new jobs over the next two to three years. “Delray Beach is pleased to be selected as the U.S. home for this expanding international business, with its innovative and environmentally sensitive technology,” said Vin Nolan, Economic Development Director, City of Delray Beach and Delray Beach Community Redevelopment Agency. In cooperation with Workforce Florida, the BDB assisted Belcan Corporation in obtaining a $24,980 Incumbent Worker Training (IWT) grant, which will allow the Palm Beach Gardens company to retain 50 positions. Belcan Corporation provides engineering, staffing, and other flexible workforce solutions to clients around the globe. Kinon, a designer and manufacturer of innovative surface materials used as wall panels, tabletops, flooring, furniture, and displays for upscale retailers, is relocating from New Jersey and has purchased 30,000 square-feet of space at 2700 Quantum Boulevard in Boynton Beach. The company will make a capital investment of $2,545,000, and add 35 new jobs with an average annual wage of $48,955. The BDB assisted Kinon through the incentives process, provided introductions to key community leaders, and helped guide the property search.

Office Depot keeps HQ in Boca Raton In a big win for the State of Florida, Palm Beach County, and Boca Raton, Office Depot decided to keep its headquarters here following its last 2013 merger with Office Max. “Selecting the headquarters location is a critical step toward integrating our two companies,” said Roland Smith, chairman and CEO, Office Depot, Inc. “Our analysis concluded that Boca Raton provides the best platform for us to achieve planned synergies, leverage assets to drive improved profitability, and launch a compelling vision for the future.“ The BDB led the regional retention effort, which included coordinating with city, county and state leaders, analyzing thirdparty research comparing Florida and Illinois from a tax perspective, and rallying business and education leaders to contact the company. “The BDB made sure Office Depot had all the information it needed to compare the workforce, tax climate, educational system, housing stock and other economic factors – all of which ultimately earned Palm Beach County the headquarters,” said Kelly Smallridge, president and CEO, BDB “We were able to make a strong business case due in part

because of the coordinated efforts of Enterprise Florida, the Florida Department of Economic Opportunity, Palm Beach County, the City of Boca Raton and Workforce Alliance. We look forward to many more successful years of Office Depot’s significant contributions as a leading Florida business and a Fortune 500 company headquartered in Palm Beach County.“ Office Depot will remain in its 625,000-square-foot corporate campus located at 6600 North Military Trail in Boca Raton, which has ample space to accommodate associates who will relocate from Illinois. The company has combined annual sales of approximately $17 billion, employs about 66,000 associates, and serves consumers and businesses in 59 countries with more than 2,200 retail stores, award-winning e-commerce sites and a dedicated business-to-business sales organization - all delivered through a global network of wholly owned operations, joint ventures, franchisees, licensees and alliance partners.

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MajorReady Land Parcels for Development Having large parcels of land available for development is one of Palm Beach County’s advantages for companies considering relocation or expansion. “We have shovel-ready properties ready to go for office, warehouse, retail and residential development,” said Kelly Smallridge, president and CEO of the Business Development Board. With the upturn in the national economy, development plans are already moving forward for several major tracts in northern and central Palm Beach County. “The real estate market is much better now, and there is strong demand for housing, offices, retail centers and other facilities,” said real estate attorney Harvey E. Oyer, III, partner with Shutts & Bowen’s West Palm Beach office. “After going five years without consuming the county’s supply of land, we see large tracts being acquired and development plans moving forward.” The land parcels now in the planning phase include: Briger Tract. The Kolter Group is proposing to build 215 homes and 143 townhomes on a square mile of land along Interstate 95 south of Harvey E. Oyer, III Donald Ross Road in Jupiter. Highland Dunes. The Palm Beach County Commission has approved plans for a 2,000-home development on 1,200 acres on Southern Boulevard at Palm Beach Aggregates. Callery-Judge Grove. Minto Communities is planning 6,500 homes and 1.4 million square feet of commercial space for shops, offices and manufacturing facilities on the 4,000-acre tract, on both sides of Seminole Pratt Whitney Road in Palm Beach Gardens. Minto’s proposal includes a baseball stadium for spring training teams.

A Focus on

North County

Josh Simon is looking forward to new growth and development in northern Palm Beach County. “The market started to improve in mid2012, and now there is very limited supply of quality real estate north of PGA Boulevard,” said Simon, principal, FLF Holdings LLC., a development, brokerage and management firm in Jupiter. “We believe that North County will become even more attractive to business as more quality real estate is developed, and we anticipate moderate rent increases in 2014 followed by more significant increases in 2015 and 2016. FLF Holdings owns and manages the Jupiter Business Center, an executive office building with more than 100 tenants. “Our building is

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Indian Trail Groves. G.L. Homes is planning a major residential community on this 5,000-acre site west of The Acreage. In addition, Oyer is working with Landstar Development Group on plans for a new community called Avenir (French for “future”) on the 4,760-acre Vavrus Ranch site on Northlake Boulevard in western Palm Beach Gardens. Avenir would include more than 7,000 residences, 1.7 million square feet of space for retail stores, medical and other professional offices, as well as a college campus. “This would bring needed services to the 40,000 residents of the Acreage, so they don’t have to drive long distances to shop,” Oyer said. “Having services within a mile of their homes would make life more convenient, while supporting their rural lifestyle.” Included in the plan for Avenir would be Kaiser University’s first traditional campus with classrooms, dormitories and athletic fields. “This would become Kaiser’s corporate headquarters as well as its flagship campus,” Oyer said. “At build-out it would accommodate 4,000 students and create an estimate 750 new jobs.” Avenir would also house a new facility for Everglades University, a private school that focuses on alternative energy education and training, and a pediatric facility by Joe DiMaggio Children’s Hospital in Hollywood. The plans for Avenir would contribute to the solution of a number of regional issues, including lack of north-south roadway capacity and an east-west water flow obstruction, added Oyer. “A well-planned waterway, coupled with the South Florida Water Management District’s acquisition of the Mecca tract for an above-ground water retention area, can help alleviate flooding to the west and drought conditions to the east.”

a great incubator for small businesses to grow,” said Simon. “It’s also the home to local outposts for dozens of national firms that want exposure to North County.” Simon added that Business Development Board is a “tremendous partner” to the real estate and business community. “In addition to promoting Palm Beach County on a national scale, the BDB also provides exceptional resources to help our local businesses grow and mature,” he said. “The BDB helps bring together all of the pieces to support our local growing small businesses as well as companies that want to expand to Palm Beach County.”

West Palm Beach unveils plan for downtown financial district

By generating new jobs and increasing demand for services, a financial district in downtown West Palm Beach could stimulate the entire county economy. “Creating new professional jobs in the city would just be the tip of the iceberg,” said Kelly Smallridge, president and CEO, Business Development Board. “New financial firms would need a host of business-related services. They would dine in our county’s restaurants and enjoy our many amenities. Those new professionals would need homes for their families – the list of potential benefits just goes on and on.” In her annual “State of the City” address on Jan. 21 at the Palm Beach County Convention Center, West Palm Beach Mayor Jeri Muoio announced plans to build the “Flagler Financial District” in the downtown area. “We already have a portion of our city where banking and finance is heavily concentrated. Now we need to let the world know about it,” she said in her address to the region’s business leaders and professionals. The financial district would run from Okeechobee Boulevard in the south to Sixth Street in the north, and stretch eastward from Rosemary Avenue to Flagler Drive. To forge a visual sense of identity, the Flagler Financial District would include street signs, banners and other signage with a new logo. “We all know putting up signage alone will not make it happen,” said Muoio. “However, it will help catch the attention of CEOs.” The city’s plan has already won support from the BDB, the Downtown Development Authority and the Chamber of Commerce of the Palm Beaches.

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World LEADERS Conference Features 16 Distinguished Speakers

Best-selling authors and prominent thought leaders will provide their insights on “servant leadership” at the World LEADERS Conference on March 5-6 at the Palm Beach County Convention Center. This annual event will bring together a maximum of 700 attendees from around the world to hear 16 speakers presenting live to deliver a personal learning experience for participants. “We are thrilled to be hosting some of the world’s most recognized thought leaders at this year’s event,” said Dr. James Davis, president of the World LEADERS Group. “I am excited about the caliber of speakers and the diversity of topics they will be presenting, which will challenge the way we all see the world.” Business Development Board members will receive a special 20 percent incentive to register by February 15, and take advantage of a rare opportunity to learn directly from notable presenters, including: Martin Sheen, award-winning actor and political activist Ken Blanchard, one of the best-selling authors of all time Marcus Buckingham, author, researcher and motivational speaker Henry Cloud, clinical psychologist, leadership consultant and author Martin Luther King III, human-rights advocate and community activist Erwin McManus, artist, filmmaker, author, storyteller, activist and innovator Patrick Lencioni, president of The Table Group, author and leadership/teamwork consultant Craig Groeschel, author and founder/senior pastor of LifeChurch.tv Susan Cain, author and lecturer

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James Blanchard, retired chairman and CEO of Synovus Financial Corporation Adam Grant, author, professor at the Wharton School of the University of Pennsylvania Ray Titus, CEO of the United Franchise Group and its related companies Katty Kay, Lead anchor for BBC World News America and author Mark Floyd, chairman and CEO of Cyan, Inc. Jon Gordon, author and leadership consultant Charles Duhigg, Pulitzer Prize-winner and author These speakers will provide insights into pioneering research on best management and leadership practices and share inspiring messages of hope, faith, courage and optimism, said Davis. Attendees will gain an understanding of leadership principles that will guide and equip them to lead more effectively. BDB members can receive the 20 percent incentive by registering online using the promotional code PalmBeach. Tickets range from $495 - $1,500 per person and are available in four categories: Executive, Priority, VIP and General Admission. During the conference, participants will have the opportunity to attend a lunch each day to ask the speakers‘ questions about management and leadership. The luncheons are limited to the first 50 people, on a first-come, first-served basis, and are included in the special categories of $895 and higher. The World LEADERS Group is a non-profit organization focused on the worldwide training of people from both the business and church sectors to become servant leaders and world changers. For more information, visit www.worldleadersconference.com.

County Partnerships Help Build a Stronger Economy With one of the fastest annual job growth rates in the state, Palm Beach County is experiencing the positive results of the effective public-private partnerships and financial leveraging programs supported by our Board of County Commissioners and community business partners. The Business Development Board leads the charge in raising the profile of Palm Beach County to attract companies to our area, and in seeking ideal sites for business location and expansion. Palm Beach County’s economic development programs, offered through the Department of Economic Sustainability (DES), give businesses access to capital to help bring projects to fruition. Additionally, technical assistance provided through DES helps companies learn how they can qualify for bidding preferences through programs for minority and women business enterprises and other initiatives to help them keep a competitive edge. The County’s participation with private industry has helped businesses, large and small exceed their job creation goals and has increased their capacity to land larger contracts. Here are a few examples of local businesses that were assisted through the County’s Section 108 Loan Program and which have reported remarkable achievements, despite the economic decline of recent years: Concrete Services, a specialty concrete subcontractor, received $250,000 in Section 108 loan financing toward acquisition, renovation, and equipment costs, as well as working capital at their facility in the village of Palm Springs. Under their loan agreement, they were required to create a projected 12 new jobs. To date, they have added 184 jobs to their payroll. International supplier of color cosmetics, skin and hair care, and over-the-counter drug products, Oxygen Development, constructed a $23 million manufacturing plant on Congress Avenue in Palm Springs in 2012 with the help of $6 million in financing through the Section 108 program. They committed to create 400 new jobs and now currently operate multiple shifts, 24 hours per day, with 822 employees. Baron Sign Manufacturing CEO, Sandra Foland took a bold step approximately ten years ago, when she decided to expand her facilities at a new site in Riviera Beach. With the assistance of more than $2.6 million in loan financing from the county’s Section 108 program, the company built a state-of-the-art plant which has served as a catalyst for economic development along the West 13th Street industrial corridor. Baron Signs has successfully weathered market fluctuations of the past decade and is now competing on the national stage for sign production contracts with universities, hospitals, airports and convenience store chains. For more information about the county’s business assistance programs and partnership opportunities, contact Sherry Howard at DES, (561) 233-3653.

By Sherry Howard, Deputy Director Palm Beach County Department of Economic Sustainability

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Urban League Promotes Economic Empowerment

For 40 years, the Urban League of Palm Beach County (ULPBC) has focused on empowering minorities in the pursuit of social and economic equality. Today, the Urban League offers robust economic empowerment programs that include comprehensive housing counseling, workforce development, financial literacy and foreclosure mitigation.

Patrick J. Franklin

“We are committed to helping the underserved people in our community,” said Patrick J. Franklin, president and CEO. “In the past year, our organization has seen tremendous growth including adding two new sites and 10 more employees in response to the growing needs in our community.” The Urban League now reaches 16,000 clients annually from three locations in West Palm Beach and two in Delray Beach. In 2013, the ULPBC announced a $780,000 grant from the National Urban League to help 100 exoffenders and high school dropouts ages 18-24

develop the job skills and training necessary to find permanent employment. The two-year “Urban Youth Employment Program WORKS” targeted neighborhoods with high poverty rates. Currently ULPBC works with more than 40 businesses to place employees and trainees, Local business owners and professionals receive a stipend and also participate as mentors, helping young adults develop the skills and network necessary to obtain and maintain employment. “UYEP WORKS targets one of the most difficult populations to find employment,” said Franklin. “It addresses barriers that prevent getting a job and provides clients with the skills to maintain employment.” Last year, the ULPBC also launched the Financial Empowerment Center with the assistance of a $100,000 grant from the National Urban League. This pilot program seeks to help clients address long term savings by addressing unemployment or underemployment, financial literacy and housing issue. “Through the Financial Empowerment Center the ULPBC is trying to change the dynamics of financial literacy programs by working one-on-one with clients to determine their goals and the steps necessary to reach them,” said Franklin. “Our counselors use the resources of the ULPBC and partnering agencies and businesses to help move the family forward.” In addition, the ULPBC’s Comprehensive Housing Counseling Program offers various services to help clients make informed decisions in regard to foreclosure mitigation counseling, pre/post purchase counseling, emergency rental assistance, and homebuyer education. For more information on the nonprofit, which celebrated its 40th year of service to the community in 2013, visit www.ULPBC.org.

We are not the same. Donâ&#x20AC;&#x2122;t treat us the same.

PALM BEACH COUNTY THE PERFECT BUSINESS CLIMATE In a highly competitive business environment, every advantage counts. It is a STRATEGIC decision to expand in a LOCATION that affords your company every opportunity for success. Businesses excel in Palm Beach County because of our: • ATTRACTIVE CORPORATE LIFESTYLE • PRO-BUSINESS ENVIRONMENT • LOW BUSINESS AND LIVING COSTS • EDUCATED WORKFORCE AND EXCEPTIONAL TRAINING OPPORTUNITIES • SOLID INFRASTRUCTURE SYSTEMS

Launch. Relocate. Expand. Develop… We have it all, in the perfect business climate. www.HQpbc.com www.BDB.org www.PBCedu.org or phone 561.835.1008 to learn more.

Find information about expanding or relocating your business to Palm Beach County at HQpbc. com. Get to know the Business Development Board of Palm Beach County at BDB.org. Learn more about education in Palm Beach County at PBCedu.org.

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High-Touch Banking Partner in Sync With Area Businesses Gulfstream Business Bank "Florida's Business Bank"'

THE GULFSTREAM ADVANTAGE x Local ownership and decision making x Relationship-based services for businesses and their owners x Cash Management solutions serving over 750 property associations x Legal Edge and RX-Doctors Only banking, serving 1,300 professional practices x Cutting-edge customizable Lockbox and payment processing technology, remote capture and Positive Pay fraud protection x Customized loan structures and deposit solutions

In the banking industry, bigger doesn’t necessarily mean better resources, capabilities and expertise. In fact, smaller community banks often yield sizable advantages. What they lack in physical branch numbers, these local niche operators make up for in concentrated talent and a laser-like niche focus on serving select clientele. Hence the stunning success of locally owned and operated Gulfstream Business Bank, founded in 1999 with the express purpose of serving southeastern Florida's business and professional community. Now a $550 million enterprise, Gulfstream Business Bank is dedicated to providing business owners, affluent investors, professional practices and property associations with relationship-based banking and investment services designed just for them. In the first quarter of 2014, Gulfstream Business Bank expands its reach in a big way, with a partnership merger with CenterState Banks, Inc. The combined company will have approximately $2.9 billion in assets, $1.8 billion in loans and $2.5 billion in deposits with a branch network of over 50 banking locations. This represents a strategic and financially attractive combination.

World-Class Banking for Busy Professionals Prior to founding Gulfstream Business Bank, President and CEO John E. Tranter and the Senior Management Team spent two decades at large regional banks, what he calls an "all-things-to-all-people" bank. Tranter and his colleagues had a different vision for Gulfstream Business Bank: a "high-touch, low-volume" institution committed exclusively to business and professional banking.

Gulfstream Business Bank provided construction financing in 2013 to Spodak Dental Group to build their new facility in Delray Beach. This aerial depicts the early stages of construction for their 13,000 sq. ft. building, a state of the art, LEED-certified, green building designed to better serve the patients and the environment. South Palm Beach County 561-665-4200 North Palm Beach County 561-354-4200 Martin County 772-426-8100 St. Lucie County 772-408-5940 www.gsbb.com

THE SENIOR MANAGEMENT TEAM Standing Left to Right: George E. Haley, EVP, Business Banking Brian Avril, EVP, Chief Financial Officer John E. Tranter, President & CEO Roy M. Warren, EVP, Senior Lending Officer Leo A. Bondi, SVP, Operations Seated: Tammy Roncaglione, SVP, St. Lucie County CEO Jocelyn Lane, EVP, Palm Beach County CEO

"Many banks start out with a business banking or niche focus," Tranter explains. "Then they branch out, expand their offerings, and lose sight of their original mission. While our assets have grown, we've purposefully stayed with just four banking centers. We do most of our business by phone, Internet, courier or remote deposit capture. Business owners' and professionals' banking needs have always been, and always will be, our driving force."

Business Experts With Local Roots Each market team of banking professionals understands the complex issues facing area business owners and has the knowledge and authority to expedite the local financing approval process and to solve problems quickly, without layers of corporate bureaucracy and delay. "I believe most businesspeople would prefer to bank with a local institution," Tranter says. "But once they get here, the Bank must be able to perform—to deliver a knowledgeable team and a competitive product. This is how we've made our mark." The excitement of this partnership merger is best spoken by John Tranter, Gulfstream’s President & CEO, who will soon serve as EVP and Chief Banking Officer of CenterState, “My team and I are very excited about the combination of CenterState and Gulfstream. Both organizations share a deep commitment to their clients, employees and communities. “We look forward to our teams working together to further build the preeminent community bank in the Southeast.” The leadership at CenterState embraces this expansion as well. “Gulfstream Business Bank is a natural extension of our Florida and Treasure Coast Franchise into attractive areas with growth potential. We have admired Gulfstream’s niche focus on small businesses and medical practices,” said John Corbett, President & CEO of CenterState Bank of Florida. “Gulfstream is consistently one of Florida’s highest performing banks and we are excited to partner with such a high caliber team.” Get out your Florida shades, the future is bigger and brighter for you – our valued customers.