Palm Beach County Business Magazine (Summer 2015)

Economic Development Forum | Opportunities in Brazil | A Sunny Outlook for Florida

Summer 2015

A Quarterly Economic Development Publication

P A L M

B E A C H

C O U N T Y ’ S

NEW LEADERSHIP

D R . R O B E R T AV O S S A

VERDENIA BAKER

AVA P A R K E R

Meet Palm Beach County’s New Leaders New leaders are taking positions at three countywide organizations.

Brazil Offers Varied Trade Opportunities

News BDB Compiles Inventory of ‘Megasites’ Life Science Companies Form Strategic Partnership Relocations & Expansions Jupiter Medical Center Opens New Breast Center Tech Runway Selects Second Startup Class

County’s Range of Investments Essential to Diversifying Local Economy

Take a Student to Work Day Businesses Rally to Support Students

Economic Development Forum

ON THE COVER

Business Development Board’s first Economic Development Forum

Skyline Image by Robert Stevens

Economist presents Upbeat Outlook Economist, Beata Caranci feels positive about the U.S. and Florida economies

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CONTENTS

BedaBox An Entrepreneurial Success Story

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Welcome from the President TO OUR MEMBERS AND PARTNERS: In this edition, you will learn about businesses working together with the Business Development Board as well as Palm Beach County to introduce students to the employment opportunities available within the area.

Additionally, you will be informed on strategic partnerships developing within the life sciences sector of Palm Beach County. Information will be given about the most recent relocations and expansions, and you will be introduced to the new leaders of the region. An inspiring entrepreneurial success story will be told, and news regarding economic advancement and trade opportunities in Palm Beach will be detailed.

I hope you enjoy this issue of Palm Beach County Business, which could not be published without the support of the Palm Beach County Board of Commissioners, Workforce Alliance, NextEra, Florida Crystals, and Suffolk Construction.

As we persist in working together to foster growth within Palm Beach County’s diverse economy, please continue to follow us on Facebook and Twitter and watch for our e-newsletters to stay up-to-date on economic development within the region.

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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Meet Palm Beach County’s

New Leaders Dr. Robert AVOSSA This summer, new leaders are taking positions at three countywide organizations. Dr. Robert Avossa is the new superintendent of the School District of Palm Beach County, Verdenia C. Baker is the new Palm Beach County administrator, and Ava Parker is the new president of Palm Beach State College. Here is a closer look at the leaders and their priorities.

Dr. Robert Avossa School Superintendent Robert Avossa, Ed.D., was named superintendent of the School District of Palm Beach County in June. A former teacher and principal, Avossa served as superintendent of Fulton County Schools in Atlanta for four years.

“I’m looking forward to working here,” Avossa said in a recent newspaper interview. “There’s such a rich diversity here in Florida and there’s an opportunity to work together and solve really complicated issues.” Avossa added that aging facilities is one of the biggest challenges facing the public school district.

Under Avossa’s leadership, Fulton County Schools achieved dramatic academic gains, earning the district the highest graduation rate of Georgia’s large school systems. Additionally, the graduation rate over the entire student population increased from 70.1 to 78.7 percent, while the dropout rate decreased from 24.3 to 11.9 percent.

Avossa achieved these results by building consensus with the School Board, community and staff through building and implementing a comprehensive research-based strategic plan.

Before coming to Fulton County Schools, Avossa served as chief

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strategy and accountability officer for Charlotte-Mecklenburg Schools in North Carolina. In that role, he led the district in driving key performance management initiatives. He also served as area superintendent and as chief of staff, both of which resulted in significant student achievement improvement. Prior to that, he spent more than a decade in Florida as a teacher and principal.

Avossa said being active and involved in the community is a priority. He has served on many non-profit boards throughout his career and is a current board member for the American Heart Association, Junior Achievement and the United Way of Georgia.

Avossa served on both the Georgia’s Governor’s Commission on Educational Reform in 2015 and the Task Force on the Federal Government’s Role in Public Education in 2014.

The Palm Beach County School District is the 11th largest district in the country with a student enrollment of more than 183,000 students. The annual budget exceeds $2.3 billion and the district is the largest employer in Palm Beach County with over 21,000 employees.

Verdenia Baker County Administrator In August, Verdenia Baker will become the first woman and the first African American to serve as Palm Beach County’s county administrator, overseeing about 6,100 employees. In a recent interview, Baker said she will focus on maintaining a balanced budget while continuing to provide high quality service.

“I believe in a strong education system and economic development program to create more career opportunities for our county’s residents,” she said. “I am looking forward to working with the business community to support our existing companies and bringing in a variety of newcomers. We need manufacturing, distribution and

Verdenia BAKER service jobs, as well as high-paying positions in the life sciences, technology and financial sectors.”

Baker served on the county committee that helped convince the Scripps Research Institute to open a Florida facility in Jupiter in 2003.

“The institute has continued to grow, even through the national economic downturn, and accomplished its objectives,” she added.

Baker is a strong supporter of education. “I believe workforce training must be a priority here,” she said. “That includes internships and summer employment positions that allow our students to gain onthe-job experience. As we invest in our K-12 schools, I want to be sure some of our high school graduates attend Palm Beach County’s colleges and universities, and then stay here to set down roots.”

Another priority is the county’s transportation network. “As we continue to grow, we need to enhance our transit system,” she said. “That includes sharing the road with bikes and mopeds in a safe manner.”

Baker joined Palm Beach County government in 1987 as a budget analyst. She was promoted to impact fee coordinator and division director of the county’s budget and finance department, before being named deputy county administrator in 2000. Baker also serves as president of the National Forum of Black Public Administrators and as a board member of the Black Chamber of Commerce of Palm Beach County.

“I love living in Palm Beach County, where we have so many great outdoor activities and cultural attractions,” she said. “We will continue to safeguard our quality of life while moving forward with economic development.”

Ava Parker President, Palm Beach State College Ava Parker, the first woman president of Palm Beach State College (PBSC) believes state colleges should be “economic engines for our

Ava PARKER communities.” In a recent interview, she said, “We have a responsibility to partner with area businesses and economic development organizations to help provide a well-trained, skilled workforce.”

An attorney and educator, Parker was formerly executive vice president and chief operating officer at Florida Polytechnic University, which opened in Lakeland in 2012. She drove the campus construction program for the new university, whose curriculum focuses on the STEM (science, technology, engineering and math) disciplines. She also served on the Florida Board of Governors, which has overseen public universities, for more than a decade.

“I am excited about coming to PBSC,” Parker said. “With 41,000 students on four campuses, Palm Beach State has a solid foundation and strong ties with the community.”

One of her priorities will be completing PBSC’s fifth campus in Loxahatchee Groves, which is scheduled to open in 2016. “This has been a labor of love for Dr. Gallon [outgoing president Dennis Gallon],” she said. “The baton has been passed to me to bring this to fruition.” The campus is on a 75-acre site on Southern Boulevard and B Road.

Parker said the programs at the new Loxahatchee Groves campus will be designed to serve the immediate community, so students will not have to drive to other locations. “We are also looking for innovative programs that complement our existing offerings,” she added. “I plan to listen to our students, faculty, staff and the entire community in order to see what we can do to advance our county and the region.”

Parker said she plans to work closely with the Business Development Board to help PBSC maintain its leadership role in serving the educational needs of the region. “We will build on our college’s great traditions and do our part to change students’ lives for the better.”

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Brazil

Offers Varied Trade Opportunities

From left, Katrina Yamada, Enterprise Florida; Martin Cass, BDO; Fabio Yamada, Enterprise Florida; and Joao Gomes, BDO

As South America’s largest market, Brazil offers a wide range of trade opportunities for Palm Beach County businesses. But, according to Fabio Yamada, director of Enterprise Florida’s Brazil Office, businesses need to plan their entry strategies carefully.

“There are five different regions, each with its own market dynamics,” said Yamada at a May 1 workshop hosted by the Business Development Board. “For instance, Sao Paulo is one of the world’s largest markets for Ferraris. It’s also a key business center where people pay $100,000 for a 200-square-foot apartment.”

Overall, Brazil is the world’s seventh largest economy and conducts more than $21 billion in trade with Florida each year. However, an economic downturn and an investigation into widespread corruption have dampened investor interest, at least in the short term.

“Brazil is rich in natural resources and very productive in terms of agriculture,” Yamada said. “But there are high import duties and taxation on top of that. So, you need to have a local presence, such as

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a sales agent on site. Most of the Fortune 500 companies have established a manufacturing, sales or service organization in Brazil in order to serve this market.”

Some regional organizations already have ties to Brazil. Dr. Tom Duncan, president, Northwood University, noted that more than 70 Brazilian automobile dealers would be coming to the West Palm Beach campus in June for training. Martin Cass, partner, BDO, said, “We have a huge footprint in Brazil and do a lot of business with international companies.”

Other attendees at the BDB session asked about trade opportunities in areas as diverse as luxury vodka, medical devices and water purification technologies. In response, Yamada said, “You need to have something unique and innovative to offer the Brazilian market. Otherwise, forget it, because imported goods cost much more than those made in Brazil. But if you have a product with greater value or higher quality, then go for it.

That is the recipe for success in serving the Brazilian market.”

BedaBox:

An Entrepreneurial Success Story

Jan Bednar is one of Palm Beach County’s most dynamic young entrepreneurs. At the age of 16, he came to the U.S. from the Czech Republic and began shipping parcels back to friends and family in Eastern Europe. “It was much cheaper and easier for them to have me buy shoes, hockey skates and other hobby gear for them here in the U.S.” Bednar enrolled at Florida Atlantic University’s College of Business, and began thinking about turning his shipping arrangements into a business. In 2014, he took first place in the student track in the FAU Business Plan Competition, and after earning his business degree, won a statewide competition.

Those successful endeavors – and the support of FAU’s Tech Runway incubator program – provided Bednar with the foundation he needed to launch BedaBox, a fast-growing Boca Raton company that provides shipping services to U.S. online companies and international purchasers.

BedaBox uses a sophisticated software application to help people overseas buy U.S. products and pay with any form of currency. BedaBox customers create a free account, and through a simple dashboard, receive a U.S. postal address and manage package forwarding.

“BedaBox is a great example of FAU’s commitment to spurring innovation,” said Kimberly Gramm, co-founder and associate vice president, FAU Tech Runway, which provides a complete entrepreneurial ecosystem for startup ventures. “We are passionate about entrepreneurship and the positive impact young leaders like Jan Bednar can have on our community.”

From his perspective, Bednar credits FAU’s educational and mentoring programs with helping him get off to a great start. “Winning the business plan competition helped with the funding, but the input from experienced mentors was very valuable for me,” he said. “They have told me things I don’t want to hear, but that helps push me forward.”

Now 23, Bednar is on a fast growth track for BedaBox. He recently updated the company’s global portal and is looking for new ways to accelerate the shipping process for in-demand products. “We’re not the only company doing international shipping, but there is a huge demand in the marketplace.”

Jan Bednar Bednar adds that the past year has been “quite a ride.” To keep up with demand, Bednar has added to his workforce, which now totals six employees. He’s also looking for a bigger warehouse in the Boca Raton area, having already outgrown the FAU Tech Runway space.

“We’ve had more and more U.S. companies coming to us to act as a fulfillment service for shipping their products overseas,” he says. “I would expect to have two more warehouses in different locations in operation next year as we continue to connect the world into one globalized marketplace.”

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News Events BDB Develops Inventory of ‘Megasites’ The Business Development Board has developed an inventory of “megasites,” existing buildings and vacant commercial/industrial land Vacant or existing sites with land use and zoning in place for either office to attract and retain large corporate users to Palm or industrial uses. The BDB has identified: Beach County through outreach to brokers, land owners, chambers of commerce and local site/building has at least 20 1 governments.

Industrial the 100,000 contiguous square ft.

Vacant Sites Existing Building The Mega Site inventory contains available or has at least 50 acres Sites commercial and industrial buildings with and land use and zoning in place 100,000 square feet of vacant space available as the site/building has at least well as vacant land where a minimum of 100,000 14 3 Office 100,000 contiguous square ft. square feet of space can be constructed. The Vacant Sites Existing Buildings available or land use and zoning Sites program is intended to serve as a resource to large in place to build such space. companies looking to relocate or expand in Palm Beach County.

These properties are developable, for sale, and have access to utilities and major transportation corridors. For the past five years, the BDB has seen the timeframe for selection of a site significantly shortened. Once a company chooses a site, construction tends to begin immediately. The Mega Site inventory will be marketed through the BDB’s website to potential prospects and site selection consultants. The BDB’s Shovel Ready Task Force, chaired by Brian Seymour of Gunster, assisted with this initiative.

Mega Sites

Life Science Companies Form Strategic Partnership Cognate BioServices, Inc. and Akron Biotechnology, LLC recently announced a strategic partnership to provide a more comprehensive package of services to their clients. Cognate is a leader in the provision of cGMP manufacturing services and regulatory support to companies and institutions engaged in the development of regenerative medicine and cellbased products and therapies. Akron Biotech is an innovative supplier of validated reagents, solutions and technologies to the cell therapy industry. Their relationship strengthens both companies and will unify their resources to better serve growing market demands internationally.

Akron Biotech founder and CEO Claudia Zylberberg, PhD, said, “This partnership is a unique opportunity to integrate the offerings of our two companies to meet the growing needs of the industry by strategically reducing the cost of goods through enabling solutions and procurement of raw materials in a cost-efficient manner for our customers and Cognate clients.”

J. Kelly Ganjei, CEO of Cognate BioServices, added, “We believe that offering a more full service integration with specific key supply chain demands provides us and our clients a competitive advantage in this field.” Dr. Zylberberg and her team have built a brand around quality and innovation, two attributes that Cognate requires of itself internally.

“We are very excited about continuing to expand our collective offerings to our clients in the US and internationally.”

The companies will continue to operate as separate entities, with each company focusing on further developing its core competencies while leveraging each other’s strengths to advance new cell therapy-based treatments from workbench to the clinic.

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Relocations & Expansions

Gov. Rick Scott, Dr. Frederick Sancilio

With Gov. Rick Scott on hand, Sancilio & Company in May announced a major expansion of its Riviera Beach operations, creating 275 jobs and retaining 149 jobs. “It is a privilege and an honor to have the support of Governor Scott here at Sancilio & Company,” said Dr. Frederick Sancilio, founder and CEO. “We are proud to be among several biopharma companies that have chosen to grow here in the area,

Jupiter Medical Center Opens New Breast Center Jupiter Medical Center has opened the Margaret W. Niedland Breast Center, a new 26,000 square foot state-of-the-art home for its full spectrum of breast health services, as well as outpatient imaging services. The Breast Center will house Jupiter Medical Center’s cutting-edge breast diagnostic equipment.

Importantly, the Breast Center integrates the diagnostic equipment, a Caring MRI Suite, soft lighting, feng-shui elements and a tranquil healing garden into comforting surroundings designed to simplify and enhance the patient experience.

The Margaret W. Niedland Breast Center is named in honor of Suzanne Niedland’s mother, Margaret, who lost her battle with breast cancer in 2011. Suzanne Niedland’s comprehensive donation funded Jupiter Medical Center’s purchase of the Breast Center’s advanced diagnostic equipment and the construction of the new building.

“The Margaret W. Niedland Breast Center speaks perfectly to our commitment as one of the guardians for our community’s health and wellness,” said Jupiter Medical Center’s President and Chief Executive Officer, John D. Couris.

“The new center will be a national model for communitybased patient care and the first center in the region to combine next generation technology and seamless delivery of breast health and diagnostic services.”

which is directly attributable to the local partnerships and support from Palm Beach County and the City of Riviera Beach.”

Sancilio & Company, Inc. was founded in 2005 and is engaged in the development, commercialization and manufacturing of branded prescription, over-the-counter and generic prescription pharmaceutical products. In 2007, the company began extensive research work on fish oil components, and discovered methods to analyze and isolate these materials. The company has developed and internationally distributes highly purified versions of these potent materials.

The project was made possible by the close partnerships between Enterprise Florida, the Florida Department of Economic Opportunity, the City of Riviera Beach, Palm Beach County and the Business Development Board of Palm Beach County.

Riviera Beach Council Chairwoman Dawn Pardo stated, “The City of Riviera Beach is thrilled that Sancilio & Company has chosen to expand their operation in our city. This expansion is another bright spot in the continued expansion of advanced manufacturing in Riviera Beach.”

Palm Beach County Mayor Shelley Vana stressed the importance of partnering with private industry in order to support economic development. “Once again, Palm Beach County has demonstrated its commitment to work with our state and municipal partners to create the best climate for business expansion.”

Tech Runway Selects Second Startup Class Florida Atlantic University’s Tech Runway has selected its second Venture Vintage class of startup companies to participate in the business accelerator program. The four companies will receive a $25,000 non-equity grant, participate in a 16-week intensive boot camp and will be provided collaborative workspace for one year. The companies also participate in a formal program for mentoring entrepreneurs and their ventures.

The second class of companies are: Honorlock, which offers award-winning, cloud-based solutions to curb academic dishonesty while remaining non-invasive.

Tone-y-Bands, which brings to market unique arm toning wrist weights that can be worn throughout the day to provide a workout from regular activities and improve exercise results.

Candidate.Guru, which delivers applications designed to vastly improve the hiring process for companies through the application of big data and machine learning technologies.

TightTalk Electronics, which created the EarDrive audio recording, transcription and translation solution that works with any audio source.

“These new startups bring innovative ideas and unique solutions to their markets,” said Kimberly Gramm, associate vice president of FAU Tech Runway.

“They’re poised to build on the success of the first class of companies accepted into Tech Runway.”

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County’s Range of Investments

Essential to Diversifying Local Economy

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

Among the policies set by the Palm Beach County Commission to effectively deliver services and provide for the health, safety and welfare of its residents are economic development investments to support and diversify the local economy. These economic development initiatives include attracting new industries to our community and ensuring the growth of employment opportunities in a wide range of salaries and skills. The Commission evaluates economic development investments using multiple factors that involve the direct and indirect jobs to be gained, the salaries to be offered, the total private capital investment, and the overall economic impact of a project.

Working in tandem with the BDB, the County has experienced a welcome uptick in corporate headquarters relocations, manufacturing facilities expansions, and high-tech businesses that provide high-wage jobs in targeted industries. The County has remained competitive in drawing these projects to our community by offering local financial support as a match to State program incentives. These economic development investments are complemented by federallyfunded programs offered through the County. The programs are designed specifically to provide permanent full-time jobs for residents of low to moderate income, and in some cases are geared toward focusing business growth in geographic areas. Such investments serve to leverage private financial investment or other county assistance vehicles, and include the following low-interest loan programs: Section 108 Loans provide loan gap financing at below-market interest rates to eligible businesses for fixed assets and working capital. Assisted projects must meet one of HUD’s national objectives of offering 51 percent of its new jobs to Palm Beach County residents of low to moderate income, preventing or eliminating slums or blight, or, meeting a critical community need.

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USDA Rural Loan Program – business projects must be located in a USDA-recognized rural zone, which includes the cities of Belle Glade, Pahokee, and South Bay, Canal Point, and the surrounding areas.

Microloan Program – established to assist small businesses, loans are offered from 10,000 up to $25,000.

Brownfields Revolving Loan Fund – financial assistance is provided to business projects that clean up contaminated properties, create jobs, and revitalize communities.

Small Business Administration 504 Loan Program – the County leverages Section 108 loans with 504 loans through its mutual working relationships with SBA-certified financial institutions.

Revolving Energy Fund Loan Program – funded by the U.S. Department of Energy, these loans finance business projects that invest in energy conservation measures and create and retain jobs.

Additionally, the County has invested in business incubators and local organizations that offer hands-on assistance to start-up and early stage companies. The Technology Enterprise and Development Center, Inc. and the Enterprise Development Center of South Florida offer business advice and services, networking connections, management and computer training, rental space and access to capital services.

Financial assistance and training programs are offered through the Black Business Investment Corporation to qualified businesses owned

by Black county residents, and through the Center for Enterprise Opportunity, a community development financial institute.

All of the County’s economic development investment programs and community partnerships are managed through the Department of Economic Sustainability and offer a broad spectrum of assistance to businesses large and small, creating job opportunities to meet the diverse needs of the county. For more information, please visit www.pbcgov.com/des.

Businesses Rally Behind Take a Student to Work Day The BDB and the School District of Palm Beach County put a new spin on Take our Sons and Daughters to Work Day so high school students could gain knowledge about the top-tier employment opportunities that are available in Palm Beach County.

“It’s important that students are able to see first-hand that there are many great job opportunities here,” said Kelly Smallridge, BDB president and CEO, “and we want our students to remain in Palm Beach County.”

On May 26, students were given the opportunity to shadow a wide range of companies, including BioTools, Inc., DePuy Synthes, Aerojet Rocketdyne, Ackerman, Link & Sartory, P.A., GliddenSpina + Partners and the O’Donnell Agency. The BDB’s Branding and Marketing Education Task Force created Take a Student to Work Day and organized the event for public and private schools.

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Economic

Development Forum

PALM BEACH COUNTY OFFERS A WIDE ARRAY OF BENEFITS FOR expanding and relocating businesses, but must continue to invest in economic development initiatives to retain its competitive advantage.

That was the key theme of the Business Development Board’s first Economic Development Forum, held April 23 at the Palm Beach County Convention Center.

“Our public and private sector leaders think about the future of our county every day,” said Kelly Smallridge, BDB president and CEO. “Together, we can shape the economic landscape to create more opportunities for Palm Beach County residents and become even more competitive in the global marketplace.”

Several hundred business, civic and educational leaders attended the half-day event, which included sessions on education, real estate and trade opportunities, as well as best practices in economic development. Presenting sponsors were FPL and Bank of America.

Keynote speaker Bill Johnson, the new state Secretary of Commerce and president and CEO, Enterprise Florida, Inc., said Palm Beach County is recognized throughout the state for its creative and effective economic development initiatives. “You are leading the way,” he told forum attendees, adding that public-private partnerships like Enterprise Florida and the BDB bring together “the best attributes of government service with private sector ingenuity and innovation.”

Corporate Leaders One of the highlights of the forum was the “CEO Corporate HQ Think Tank” session, which featured four leading Palm Beach County executives: Chris Jamroz, president and COO, GardaWorld Cash Services; Jeff Scott, president and CEO, Olympus Insurance, Gemini Financial Holdings Corp.; Drew Levine, president, G4S Secure Solutions North America; and Jeff Stoops, president and CEO, SBA Communications.

Levine and Stoops talked about their companies’ decisions to move to Palm Beach County in the 1990s, and why they feel the region is the ideal location for their headquarters. “We have been able to hire professionals and administrators with great business skills,” said Stoops. “The workforce and education system here are real advantages for our company.”

Jamroz emphasized the growth that GardaWorld has enjoyed since moving here from Canada in 2011, while Scott discussed the reasons

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Palm Beach County’s Economic Development Resource

for Gemini’s recent relocation to Palm Beach Gardens. “We have had no problem in finding experienced people who want to relocate to Palm Beach County, noted Scott.

Reflecting the overall tone of the panel – and the entire forum – Jamroz emphasized the pro-business climate of both the state and Palm Beach County. “What captivated our hearts was the cohesive approach of the state, county and cities,” he said. “Since then, we have continued to receive great support from the BDB’s team, and we have enjoyed tremendous growth here.”

Supporting Existing Businesses While attracting new companies is an important goal, economic development programs must also support existing businesses, according to C.J. Evans, Jr., principal, Merit Advisors, L.P. “We need to nurture and cultivate our local industries,” said Evans at a panel discussion on “Economic Development Competitiveness – Best Case Practices,” moderated by Shannon R. LaRocque, assistant county administrator, Palm Beach County.

Angelo Bianco, partner, Crocker Partners, and Al Latimer, senior vice president, Strategic Partnerships, Enterprise Florida, Inc., agreed with Evans. “About 80 percent of new job creation comes from existing businesses,” Latimer said. “At Enterprise Florida we want to be an advocate for Florida companies in terms of regulations.”

When it comes to attracting new firms, Bianco said Palm Beach County shines in the financial services sector. “This is a high-income area, so we attract companies that want to serve those individuals and families. Through the years, we have built a large base of employees in financial services and that provides a good foundation for future growth.”

Trade and Logistics Opportunities In his luncheon keynote talk, John Kaliski, principal, Cambridge Systematics, presented the “Florida Trade and Logistics Study 2.0,” and discussed some of the opportunities for Palm Beach County businesses in the dynamic international marketplace.

“Global trade played a key role leading Florida’s economy out of the recession,” he said, noting that Florida created nearly 23,000 new jobs in trade and logistics from 2010 to 2012, and more than 9,000 new jobs in manufacturing.

Gary Hines, standing at right with panelists Brian Seymour, Neil Merin and Kenneth Krasnow,

From left, Jeff Stoops, Ben Boynton, Drew Levine, Chris Jamroz and Jeff Scott

Carey O’Donnell

Bill Johnson and Kelly Smallridge

‘As global trade and economic activity shift over the coming decades, international commerce can be an even more important driver of Florida’s future,’ he said. “The continued shift in U.S. growth to the Southeast, rapid growth in Latin American and Caribbean markets, the widening of the Panama Canal, and the near sourcing of global supply chains back to the Western Hemisphere all suggest that Florida could be at the crossroads of vital trade lanes.”

Kaliski said Florida has several opportunities to maintain and expand its role as a global hub: Move more trade through Florida’s sea and air gateways, with an emphasis on moving more imports directly to Florida and better balancing inbound and outbound trade flows Make, grow, and refine more products for export from Florida, by expanding exports of Florida-origin manufactured goods, agricultural products, and other natural resources Multiply the impacts of global trade in Florida, by providing value-added services to trading businesses in Florida and trading partners around the world Expand Florida’s role as a global hub for visitors, investment, and talent.

In order to capitalize on those opportunities, Florida needs to make strategic investments to ensure Florida is “best in class” in all aspects of global trade and investment. These investments include providing marketing assistance and infrastructure investments to expand the number of direct global connections to Florida Enhancing regional partnerships across Florida would also support export market opportunities and advance economic development. Finally, Kaliski said the state should develop a Florida Trade & Logistics Institute to continue research, education, and collaboration in support of Florida’s global vision.

Visit www.bdb.org to read a full white paper detailing the findings of the Economic Development Forum.

John Kaliski makes a point

Key

Addressing Topics

Several other important topics were addressed at the Economic Development Forum, including the following: Kelly Smallridge led an “Economic Development Stakeholder Discussion” with Michael Busha, executive director, Treasure Coast Regional Planning Council; and Jerry Allen, deputy director, Palm Beach International Airport.

Carey O’Donnell, president and creative director, The O’Donnell Agency, moderated a panel discussion on the BDB’s “Branding & Marketing of Education Initiative.”

Participants from the School District of Palm Beach County included Dr. Peter Licata, director of choice and career options; Jay Boggess, choice and career education administrator; and Nicole Ketchem, choice and career options specialist. Other panelists were Kimberly Lea, campus president, Keiser University; and Christina Lambert, president and CEO, Education Foundation of Palm Beach County.

Gary Hines, senior vice president, administration, BDB moderated a “Real Estate Panel” with Kenneth Krasnow, managing director, South Florida, CBRE; Neil Merin, chairman, NAI Merin Hunter Codman; and Brian Seymour, shareholder, Gunster.

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Economist presents

Upbeat Outlook Beata Caranci, vice president and deputy chief economist, TD Bank Financial Group, has a good feeling about the prospects for the U.S. and Florida economies. “Employment growth is picking up speed,” she said at the Business Development Board’s May 21 meeting at the Colony Hotel. “Tourism is booming, foreclosures are dropping and new companies are being created in all business sectors.”

Caranci gave her “2015 Economic & Financial Outlook” for the U.S., Florida and Palm Beach County to more than 100 BDB members. Ray Celedinas, BDB chairman, welcomed attendees and Val Perez, South Florida retail market president for TD Bank, presented a video on the bank’s support for local communities.

Caranci said Florida’s economy has a history of outperforming the U.S. average, and the balance of 2015 will be no exception. “America is now in its seventh year of expansion and will be able to absorb slightly higher interest rates,” she said.

“Small and mid-size businesses are finding it easier to access capital for expansion. From a global perspective, the U.S. dollar is not likely to continue rising against major foreign currencies.

That is good for Florida because a stronger dollar affects trade and tourism.”

Turning to the housing market, Caranci said the nation needs between 1.5 and 1.6 million new units every year. “There is lots of demand for new homes, particularly in Florida.” She added that the state’s current housing production rate of 90,000 per year could go up to 150,000 or 200,000 to meet that demand.

Last year, about 300,000 people moved to Florida, and that number could reach 400,000 this year, Caranci said. “While many people still think of Florida as a place for retirees, the state has a huge cohort of Millennials. While the younger generation is carrying a lot of debt, there will be plenty of people in their 20s and 30s buying their first house and first car, while marrying and starting families. That’s a very positive trend for the state’s future.”

Throughout Florida, companies are creating high-paying new professional and technical jobs, and Palm Beach County is leading the way. “Financial jobs have come back, the life sciences are strong and construction jobs are growing as well,” she said.

“It should be a very good year.”

Beata Caranci, Vice President and Deputy Chief Economist, TD Bank Financial Group

“Tourism is booming, foreclosures are dropping and new companies are being created in all business sectors” – Beata Caranci, Vice President and Deputy Chief Economist, TD Bank Financial Group

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5301 S. Congress Ave., Atlantis, 33462 t KGLND DPN

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