Palm Beach County Business Magazine (Winter 2015)

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Growing the Glades | Mayor’s Priorities | New Developments | Equestrian Sector

A Quarterly Economic Development Publication

Winter 2015

THE GLADES Attracting Development Interest

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County Mayor

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Outlines 2015 Priorities

School Counselors

Get Firsthand Look at County’s Key Industries

News

TherapeuticsMD Recognized for High Growth Teachers Get Hands-on Science Training Moving up in the Rankings Relocations & Expansions G4S Announces Planned Sale of Government Solutions to Private Equity Firm Jupiter Approves New Institute

Brownfields Programs

Help Leverage Private Investment For Business Development ON THE COVER

Saluting Our

Clockwise from top: Mythja, Branislav Pudar, Peter Bernik

Equestrian Sector

New Developments

Going Strong in Palm Beach County

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CONTENTS

Glades Attracting Growing Development Interest

Palm Beach County’s western Glades region is attracting growing interest from companies interested in its unique combination of assets.

Welcome from the President TO OUR MEMBERS AND PARTNERS: Upon reading this issue of Palm Beach County Business you’ll learn about new opportunities for growth in the county’s western Glades region, projects underway in West Palm Beach and, how the county is collaborating with state and federal entities to further redevelopment and prosperity.

Additionally, this issue features news regarding relocation and expansion projects, an innovative education initiative, and information about upcoming community events.

I hope you enjoy this edition of Palm Beach County Business which is made possible with the support of the Palm Beach County Board of Commissioners, and significant investment from our private partners notably, CareerSource, NextEra Energy, Inc. and Florida Crystals.

As we continue to diversify the growth of Palm Beach County’s growing 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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Glades Attracting Growing Development Interest

Palm Beach County’s western Glades region is attracting interest from companies that would like to take advantage of the region’s assets.

“We’re optimistic, but there is a ton of work that goes into making sure a new project comes to fruition,” said BDB President and CEO Kelly Smallridge at a December 16 presentation in Belle Glade.

Smallridge said there were three serious prospects considering opening new facilities in the Glades area that would hire local workers and construct new facilities. One prospect is a soil enrichment company that would create about 100 new jobs over five years, the second is a manufacturing facility that would generate about 250 new jobs and the third is a light manufacturing company that would create about 60 new jobs.

Smallridge made the announcement at the Dolly Hand Cultural

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Arts Center in Belle Glade in a meeting with the region’s business and civic leaders, as well as the Lake Okeechobee Regional Economic (LORE) Alliance of Palm Beach County. She added that the BDB plans to continue its partnership with LORE to market the Glades and create more economic opportunities for the region.

At the meeting, Tracy Sharp, chief operating officer of Boyette Strategic Advisors, presented an economic analysis, sponsored by FPL, designed to identify both the challenges and opportunities of bringing new businesses to the Glades area.

The BSA report, “The Glades Region of Palm Beach County: Target Sector Report and Recommendations,” highlighted four key business sectors: Agri-business/ food manufacturing Distribution/ warehousing Retirement services Recreational tourism In discussing the report, Sharp said the Glades’ central location between the Atlantic and Gulf Coasts, was a important asset for manufacturing, distribution and warehousing companies seeking to serve southern and central Florida. She noted that that the region had abundant undeveloped land, and 34,000 residents with a relatively low median age. Key challenges are the region’s low income level and high poverty rate.

The BSA report called for a concerted effort to brand the region, and Sharp suggested “The Glades of Palm Beach County” would enhance name recognition for outside companies.

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Investors Making Plans for Belle Glade Site A group of western Palm Beach County investors are planning for new commercial and industrial development of the 191-acre site of the vacant Glades Correctional Institution. Gov. Rick Scott and the Florida Cabinet approved the $1.2 million sale in June, and the site was annexed to the City of Belle Glade in October.

“Now, we are looking at the best approaches for bringing in new development and generating new jobs for our region,” said Henry Rionda, Jr., president and managing partner, BGI Group LLC. The investment group includes former Belle Glade mayor Tom Altman.

Noting that the site is bisected by a railroad line, Rionda said the section of the tract bordering S.R. 80/U.S. 441 would be ideal for a regional commercial center, including stores, offices, a hotel and gas station. Potential industrial uses, such as a warehouse or distribution center could be located west of the tracks, which provide ready access to the state’s rail system.

“We believe this is a prime piece of real estate with great access to U.S. 27, running north and south, as well as S.R. 80, which goes east and west,” Rionda said. “We are right in the middle of everything and this is a great location to bring in new business investment.”

State Providing Funding

for Glades’ Road Projects Gov. Rick Scott recently announced that Belle Glade, Pahokee, and South Bay will receive $3.8 million in transportation improvement funds through the state’s Rural Areas of Opportunity program.

“Building and repairing roadways in rural communities is a top priority to help Florida continue to be the world’s number one tourist and business destination” said Scott, who announced the funding in December. “This $3.8 million investment will allow our rural communities in Palm Beach County to make important roadway upgrades so they can continue to grow.”

The projects selected for funding are: South Bay - Martin Luther King Blvd/Palm Beach Road and Main Street, $1,416,687 Pahokee - East Main, $1,374,512 Belle Glade - SE Ave G, SW Ave H, SW 12th St, SE 7th St, South Canal St, and West Ave A, $1,038,834 The Florida Department of Transportation will work closely with these communities and work on the projects is expected to begin in early 2015.

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County Mayor

Outlines 2015 Priorities

Palm Beach County Mayor Shelley Vana believes in a coordinated approach to economic development. “As the new year begins, I will be making sure that we include input from the business community,” said the incoming mayor in a recent interview. “I am very supportive of the Business Development Board and its initiatives,” As a resident of Palm Beach County since the 1980s, Vana says she has seen a growing sense of connectivity among the region’s different business sectors, from agriculture and tourism to finance, the life sciences and information technology. “People from many different industries understand that we’re all in this together,” she said. “We have great leaders in education, culture and sports, as well as business who are talking to each other and looking at the ‘big picture’ for our county.”

A top priority for county government in the coming year will be the selection of a new county administrator, Vana said. “We want to be sure everyone feels comfortable with our choice,” she added. “Our administrator will play a key role for years to come.”

Vana also plans to focus on economic development initiatives for the western Glades region and the future of the agricultural reserve areas. She noted that the BDB has been a leader in marketing the Glades, as well as supporting the county’s infrastructure needs, such as plans for an inland port.

“We also think sports can be a more powerful economic driver for Palm Beach County,” Vana said. “Events like the first Boca Bowl bring in tourists who might want to vacation here, buy a home or move their business to our county.”

A native of Pennsylvania, Vana worked for the Palm Beach County School District for 20 years, teaching at the Dreyfoos School of the Arts, Jupiter High School and serving as a district-wide science resource teacher for Palm Beach County. She has also been involved with public television and radio, hosting shows like “First Issue, a weekly public affairs radio program.“ Vana was elected to the Florida House of Representatives in 2002 and served on the Education K-20 Committee, Education Appropriation Subcommittee, Policy and Budget Council, Growth Management Committee and Agriculture Committee.

She was elected to serve as Palm Beach County Commissioner District 3 in 2008 and reelected in 2012.

“As representative for District 3, I want to focus on how we can continue to revitalize the ‘heart of Palm Beach County,’” she said. “I’m looking forward to a great year for our entire county.”

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School Counselors Get Firsthand Look at County’s Key Industries

In an initiative to inform Palm Beach County educators about the workforce needs of the business community, the Business Development Board organized a December 5 bus tour that gave school counselors a firsthand look at key industries. The initiative’s task force is chaired by Carey O’Donnell of the O’Donnell Agency and Ken Kahn of LRP Publications.

“The BDB has been working very hard to enhance the image of Palm Beach County’s public and private schools,” said Kelly Smallridge, president and CEO. “We are stepping up our efforts because it directly impacts our ability to recruit, retain and expand businesses in Palm Beach County.”

For that reason, the BDB arranged a bus tour for 45 academy coordinators and guidance counselors from Palm Beach County’s public and private high schools. “We want them to understand the industries driving our local economy and the skill sets required for securing various levels of employment,” Smallridge added.

The tour included: Max Planck Florida Institute in Jupiter Florida Turbine Technologies, Inc. in Jupiter Florida Power and Light Co. in Juno Beach Baron Sign Manufacturing in Riviera Beach Palm Beach State College in Lake Worth (with lunch sponsored by Celedinas Insurance Group & Bank of America) Modernizing Medicine in Boca Raton 3Cinteractive in Boca Raton ADT Corporate Headquarters in Boca Raton “A special thank you to Superintendent Wayne Gent, Dr. Peter Licata and their team at the School District of Palm Beach County for teaming up with the Business Development Board of Palm Beach County and recognizing the direct impact education has to economic development,” Smallridge said.

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&

News Events TherapeuticsMD Recognized for High Growth TherapeuticsMD Inc., an innovative women’s healthcare company, is Florida’s fastest-growing tech company, according to the 2014 Deloitte “Technology Fast 500.” The Boca Raton company ranked 41st on the list of the 500 fastest-growing technology companies in North America, including 11 from Florida.

“We are very pleased to be recognized as one of the top growth companies this year,” said Robert G. Finizio, CEO, TherapeuticsMD. “It is an exciting time in our development.”

TherapeuticsMD Inc. focuses on developing and commercializing products exclusively for women. With its patented SYMBODA™ technology platform, TherapeuticsMD is developing

advanced hormone therapy pharmaceutical products to enable delivery of bio-identical hormones through a variety of dosage forms and administration routes.

The company also manufactures and distributes branded and generic prescription prenatal vitamins as well as over-thecounter vitamins and cosmetics under the vitaMedMD® and BocaGreenMD® brands.

Teachers Get Hands-on Science Training Eight Palm Beach County science teachers worked alongside researchers at the Max Planck Florida Institute for Neuroscience’s second annual teacher workshop held October 16 and 17 in Jupiter. The workshop was created to deliver a hands-on, immersive experience for teachers, including many educators from Title 1 schools.

The teachers sat in on lectures and learned modern neuroscience techniques via hands-on training inside the Institute’s labs. Topics on the teachers’ agenda included recombinant DNA, electrophoresis, restriction enzymes, polymerase chain reaction (PCR), neuropsychiatric diseases, and genotyping.

“We’ve designed this program specifically to explain neuroscience research topics and techniques in a way that’s directly applicable to our teachers’ classrooms,” said Dr. Ana Fiallos, MPFI’s head of education outreach. “The goal is for this real-world lab experience to inspire our teachers and provide exciting and relevant ideas they can take back to their classrooms and students.”

Moving up in the Rankings Palm Beach County made a dramatic upward jump in the rankings in the Milken Institute’s recently released “Best-Performing Cities“ report. The institute cited the metro area’s housing rebound as a key reason for the jump to No. 70 in 2014 from No. 163 in 2013.

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Relocations & Expansions In cooperation with Enterprise Florida, Palm Beach County, the City of West Palm Beach and the City of Riviera Beach, the Business Development Board of Palm Beach County (BDB) announced that it assisted Lockheed Martin in securing $3.2 million in state, county and city incentives to retain 401 high-paying existing jobs in the county.

Lockheed Martin received $320,800 from the county, $160,400 each from Riviera Beach and West Palm Beach, and $2.57 million from the state through the state’s Qualified Defense and Space Contractor Tax Refund Program (QDSC). The project is expected to have a four-year economic impact of $356 million.

Lockheed Martin’s Mission Systems and Training business has facilities in West Palm Beach and Riviera Beach where the company produces advanced undersea systems, ranging from manned submersibles to unmanned remotely operated vehicles to autonomous vehicles.

The BDB played a significant role to ensure Lockheed Martin was able to secure the incentive package and it is the first time the BDB facilitated a project that was eligible for the QDSC incentive.

The QDSC is a tool to provide Florida companies a competitive edge for defense, homeland security or space business contractors to acquire new contracts or subcontracts, consolidate contracts or subcontracts or convert contracts to commercial production. The Lockheed Martin incentives will be applied to support enhancements to products, to sustain their

workforce, and provide their operation with competitive advantages.

“Lockheed Martin is such a major employer in our county that we wanted to go out of our way to support their efforts in hopes they will continue to grow their presence in Palm Beach County,” said Kelly Smallridge, president and CEO of the Business Development Board of Palm Beach County. “Due to the nature of the defense business and the ups and downs of federal defense contracts, it is very hard to keep those companies competitive and help them bring down their costs while competing for those projects without some sort of local support.”

“I am very pleased that the county could partner with the State of Florida and Lockheed to retain more than 400 high-paying jobs in my district,” said Commissioner Priscilla Taylor, who now serves as the Board of County Commissioners’ liaison to the BDB. “We are proud that Lockheed Martin has such a strong presence in Palm Beach County and that we could work together to help them compete for additional defense contracts.”

County Mayor Shelley Vana also emphasized the need to partner with private industry. “Our ability to attract and retain jobs and grow our industries in advanced technology and high impact sectors depends on effective collaborations of businesses with state and local stakeholders.”

G4S Sells Government Solutions Group To Private Equity Firm G4S Government Solutions, Inc. (G4S GS), the world’s leading U.S. government solutions group, recently entered into a definitive agreement to sell G4S GS and other related assets and assumed liabilities to a U.S. private equity firm and has launched Centerra Group, LLC, a global government and critical infrastructure services company.

Centerra will become the largest American-owned provider of protective services to the federal government. “This transaction opens an exciting new chapter for us as a corporation and gives the company significant financial and operational flexibility to enter several new markets and invest deeper in existing ones.” said Paul Donahue, president and CEO of Centerra.

G4S Secure Solutions in Palm Beach Gardens was not part of the transaction.

Jupiter Approves New Institute The Jupiter Town Council recently approved plans for the Institute for Healthy Living, a $70 million, 235,000-square-foot patient care and medical research facility. It will be built in Abacoa near Scripps Florida, the Max Planck Florida Institute and Florida Atlantic University. The developer is NuVista Living, a Palm Beach Gardens-based company led by Paul

Walczak, who also owns a senior care facility in Wellington. Jupiter Medical Center is a partner in the project, which will have 129 nursing home beds, 70 assisted living beds and 30 beds for neurological disorder patients.

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Brownfields Programs

Help Leverage Private Investment For Business Development

By Sherry Howard, Deputy Director Palm Beach County Department of Economic Sustainability The U.S. Environmental Protection Agency (EPA) generally defines a brownfield site as real property, where the expansion, redevelopment, or reuse of which may be complicated by the presence or potential presence of a hazardous substance, pollutant, or contaminant. It is vital to clean up and reinvest in these properties in order to protect the environment and reduce blight. Examples include properties which were used for gas stations, agricultural uses, or solid waste disposal.

Mandatory cleanup of such sites creates an additional economic burden for the business that wants to redevelop the property.

Palm Beach County’s business assistance programs include investment vehicles to help companies offset brownfield cleanup costs.

More than $2 million in U.S. Housing and Urban Development (HUD) Brownfield Economic Development Initiatives (BEDI) grant funds has been paired with $3.5 million in Section 108 Loan funds to bring economic development projects to fruition in the Glades region

of the county. These business projects will create in excess of 275 new jobs in an area that has suffered from high poverty and unemployment. Here are a few examples of economic development projects assisted through the BEDI program: Circle S Pharmacy, Pahokee Muslet Brothers, Belle Glade Historic Belle Glade City Hall, Avenue A Avenue A, Belle Glade Additionally, Palm Beach County is a partner with the Treasure Coast Regional Planning Council and the cities of West Palm Beach and Fort Pierce in the Brownfield Assessment Coalition, which received a $1 million EPA grant in 2011. The grant provided funds to conduct site assessments in target areas within the partner jurisdictions for the reuse and redevelopment of brownfields.

To continue these efforts to help businesses grow, Palm Beach County’s Department of Economic Sustainability (DES) is constantly on the lookout for new sources of funding. In 2013, through an application submitted by DES, the county was awarded $1 million from the EPA to establish the Brownfields Revolving Loan Fund.

Through the Fund, the county offers loan financing to support cleanup activities for sites throughout the county that are contaminated with hazardous substances and petroleum. As more businesses leverage their development costs through the loan fund and Palm Beach County further demonstrates its commitment to revitalizing brownfield areas, additional opportunities will open up for brownfields funding through the EPA. The diverse and experienced team at DES collaborates with private financing institutions, business development partners, municipalities, CRAs, and state, federal and non-profit agencies to support economic development in Palm Beach County. The brownfields funding programs provide an important resource to help revitalize communities and expand business enterprises.

For more information about the county’s business assistance programs, contact Sherry Howard at DES, (561) 233-3653.

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Saluting Our Equestrian Sector On Saturday, January 17, the Business Development Board hosted a special Winter Equestrian Festival reception at the Palm Beach International Equestrian Center in Wellington. Here are photos from that event.

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Developments Going Strong

in Palm Beach County

While commercial and residential development in Palm Beach County continues at a strong pace, there is little risk of a new “boom-bust” cycle, according to panelists at the BDB’s quarterly luncheon, held Nov. 20 at the Palm Beach County Convention Center.

“I am heartened by our county’s demographic trends,” said Quinn Eddins, CBRE’s director of research and analysis for Florida. “Our residential growth is due primarily to net migration, including Baby Boomers who are retiring or downshifting away from the winters of the north. That means we get a more reliable stream of people coming here, supporting the county’s single-family and multifamily residential construction.”

Eddins added that residential growth is also a key driver for commercial real estate sectors, including

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retail shopping centers, office buildings, warehouses and other distribution facilities.

Attorney Harvey Oyer, III, partner, Shutts & Bowen in West Palm Beach, moderated the panel discussion on “Palm Beach County: Local, Regional and State Overview.”

Other panelists were Chris Roog, economic development director, City of West Palm Beach; Joan Goodrich, economic development director, City of Delray Beach and its Community Redevelopment Agency (CRA); and Natalie Crowley, director of planning and zoning, City of Palm Beach Gardens.

The three panelists commented on their cities’ economic development initiatives as well as recent commercial and residential developments in their communities.

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NEW

Development Opportunities

in West Palm Beach

By Jon Ward, Executive Director Community Redevelopment Agency (CRA) City of West Palm Beach

The City of West Palm Beach outsourced the management of its two CRA districts to Redevelopment Management Associates (RMA) in January 2014. One of our first assignments was to make a comprehensive examination of the north end of the city and make suggestions as to how to stimulate economic development in the area.

Some years earlier, the city had created a series of “mixed use districts” with land development regulations that were quite prescriptive regarding density and building heights, generally with an eye towards making a minimal impact on the surrounding historic neighborhoods, most of which were developed during the great Florida building boom in the early 1920s. The mixed-use districts were referred to with acronyms: Currie Mixed Use District (CMUD), Broadway (BMUD) and Northwood Village (NMUD).

Curry Mixed Use District The CMUD is located east of North Dixie between the quaint shopping center of Northwood Village and the waterfront Currie Park.

Although every parcel in the 30-plus acre contiguous site is relatively level, facing the water and eminently buildable, no new development had been actively contemplated there for decades, even at the height of the real estate run-up of the last decade. Contract purchase options had expired and many of the parcels were subjected to foreclosure.

RMA’s examination of the CMUD land development regulations (LDRs) quickly exposed the three and four-story height limitations and commercial first-floor use restrictions placed on all potential development that were crushing the private sector’s motivation to invest in the district.

Beginning with a series of public meetings in March 2014, the CRA proposed a series of changes to the existing rules. The surrounding neighborhoods voiced strong support for upgrading the development potential of the area at the same time that the private sector development community was engaged in assembling significant holdings, recognizing that the window of opportunity for building and

financing was upon us. Working with city planning staff, the CMUD LDRs were redrafted, changes to the comprehensive plan were approved by the state and all city boards approved of the ordinance changes, with final adoptions coming in November.

Conversations with private sector representatives confirm that several significant site plans will be submitted to the city in early 2015. The potential projects will enhance property values in the district and provide many of the requested improvements voiced by residents, including, we believe, an excellent chance at securing a major grocery store.

Northwood Village The effect of the CMUD rewrites has already been felt in Northwood Village, as a series of real estate purchases have taken place over the last six months in anticipation of the positive impact of the adjacent development proposals.

On the heels of that exercise, the CRA expects to address the NMUD regulations beginning in February. The major players that have made investments in the village are waiting for clear guidance from these rewrites to determine the best uses for their properties.

We anticipate that building height allowances will certainly increase, although not to the level of the CMUD district, probably to be capped at 6-8 floors. Because the Village was initially developed in the 1920s, great care must be exercised to preserve the existing historic built environment while allowing significant new projects to move forward.

With that in mind, the CRA is working with the city’s Historic Preservation staff to identify key buildings for potential individual designation as historic sites. A TDR (transfer of development rights) program could be developed for Northwood Village that would allow the owners of these potentially designated structures to maintain the buildings and still participate in the increased property values by selling the development rights.

We anticipate that most of the new development will concentrate on mixed-use buildings, with commercial and retail uses on the first

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NEW

Development Opportunities Continued from page 13

in West Palm Beach

Robert Stevens

floors and residential uses above. All new developments will be required to self-park. The 3.5-acre site on the western end of the Village, referred to as the “anchor site” owned by the CRA, will be offered for sale and development by the agency after the new regulations are adopted.

Broadway Corridor Immediately on the heels of the NMUD rewrites, the CRA will move on to a similar exercise for the Broadway corridor. The broad strokes of the kinds of development that the city would like to see there were outlined in the visioning exercise that the CRA conducted in 2014.

These changes will affect the classic neighborhoods on both sides of Broadway, and will also impact on the major projects proposed for the North Flagler corridor, such as the Related/Rybovich mixed-use condo project, recently approved by the city. Taken as a whole, these changes and the accompanying development are likely to result in the largest boom to the north end of West Palm Beach since the 1920s.

Sunset Lounge In the close-in Historic Northwest neighborhood, plans are underway for the restoration of the legendary Sunset Lounge at 8th Street and Henrietta, and proposed development of the surrounding property. The Sunset is proposed to be restored to appear as it was about 1940, including the restoration of the huge second-floor ballroom, mezzanine and raised stage. A new tower will be built at the northern end of the Sunset building, containing elevators, new bathrooms and ancillary functions, such as a green room for performers. The first-floor lounge will resemble the same period and be operated as a public house, while the ballroom could be available for performance space, weddings, public meetings, reunions and the like. An adjacent structure could house music education and training activities. Enlarging on the Stull and Lee report, produced by the CRA some years ago, a significant park will be created to the south of the Sunset, for gatherings and festivals and to enhance the neighborhood feeling.

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With streetscaping already underway on Seventh Street, CRA staff will propose a new at-grade rail crossing over the FEC tracks to encourage development and positively impact the city’s east-west connectivity. The CRA is already assisting with improvements to local businesses, such as the Queen of Sheba restaurant, and is proposing a culinary component on Seventh Street.

Taken as a whole project, the Sunset development is targeted for creating a cross-cultural destination that will appeal to a wide crosssection of music lovers and foodies, encouraging reinvestment in this historic neighborhood.

The ‘Tent Site’ Final negotiations are currently underway regarding the vacant property at Okeechobee and Dixie, known as the “tent site.” The City Commission, sitting as the CRA Board, has selected a master developer, FRI, for a 500,000-square-foot mixed use building on the site. Although proposed to contain an upscale grocery and other retail uses, the primary function of the development will be high-quality health care facilities. Talks are in progress with a number of end users, but the development agreement must be put in place first.

Old City Hall Site The CRA received several responses to the RFP for development on the old City Hall site on Banyan. The agency requested proposals to develop a hotel on the property, as well as other appropriate mixed uses, including residential and commercial elements.

An evaluation committee reviewed the proposals and selected two finalists to make presentations to the CRA Board at a special January meeting. Staff anticipates the project will include an approximately 200-room hotel. The activation of the park on the former Helen Wilkes site, as well as potential liner buildings around the Banyan Street garage, are also components that are requested. The City Commission, sitting as the CRA Board, will then select a developer and direct staff to begin final negotiations, a process anticipated to last 90 days.

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