PALM BEACH COUNTY
PALM BEACH COUNTY BUSINESS | THE DATA ISSUE
CONTENTS
In the Know From the CEO
A Story Told by Numbers Page 2
Facts & Figures
Migration Trends; Population; Recent Corporate Relocations and Expansions Facilitated by the BDB Page 3
A Global Destination in the Sunshine; Florida by the Numbers, and Palm Beach County Industry Clusters Page 5
Data Outline–Poised for Growth From housing and transportation to healthcare and industry, Palm Beach County is booming Page 8
Trends in Housing, Talent and Quality of Life Page 10
The Rise of Quantum Florida’s Next Great Leap Page 13
Resources
The BDB—Your Development Partner: Small, Minority-owned Businesses Thrive Here Page 15
CareerSource
Palm Beach County Business Solutions Page 16
A Story Told by Numbers
From Kelly Smallridge, CEO
Business Development Board of Palm Beach County
IN PALM BEACH COUNTY , our story of success is measured in numbers. From population growth to the infrastructure investments that support our quality of life in the sunshine, the county and its 39 municipalities re a shared commitment to continued prosperity.
This issue of Quarterly explores the data behind that growth. Simply put: Palm Beach County has always represented opportunity—today and for generations to come.
Our growth is visible everywhere. Luxury condominiums and apartments, suburban neighborhoods perfect for raising families, and affordable workforce housing all play a role. It’s seen in Class A offi new stores and restaurants, and the warehouses and logistics centers that keep our region moving.
Major investments—hundreds of millions of dollars at Palm Beach International Airport and the Port of Palm Beach—ensure we are ready for the demands of today and tomorrow. Property values have reached a record half-trillion dollars, up 14% over the past year. The county’s GDP stands at $131 billion, up from $117 billion two years ago— the third-highest in Florida and 26th in the U.S. And our population is projected to exceed 1.56 million by the end of 2025.
The BDB has been a cornerstone of this growth. Over the past five years, we have assisted in relocating or expanding more than 140 companies countywide, helped create over 13,100 direct jobs with average salaries above $80,000, and secured more than $1.12 billion in capital investment. Many companies are drawn here by our competitive taxes, favorable climate, and unmatched lifestyle.
We are grateful to our community partners, BDB board members, and collaborators who share our vision for steady, sustainable growth. Together, we are building a county where everyone feels at home—and that is the ultimate measure of success.
Business Development Board of Palm Beach County, Inc. 310 Evernia Street
West Palm Beach, FL 33401 561.835.1008 | bdb.org
Kelly Smallridge President & CEO
561.835.1008 Ext. 4121 ksmallridge@bdb.org
Kristen Bardin Vice President – Private Investment 561.835.1008 Ext. 4110 kbardin@bdb.org
Tim Dougher Vice President – Business Recruitment, Retention and Expansion 561.835.1008 Ext. 4131 tdougher@bdb.org
Kristen Liberman Vice President – Marketing & Media Relations 561.835.1008 Ext. 4106 kliberman@bdb.org
Shawn Rowan Vice President – Business Recruitment, Retention and Expansion 561.835.1008 Ext. 4108 srowan@bdb.org
PALM BEACH COUNTY BOARD OF COUNTY COMMISSIONERS (BCC) adopts ordinances to establish policies and programs aimed at protecting the health, safety and general welfare of residents. The BCC works to resolve major problems facing local government and guides growth and development. In addition to efforts provided by the Department of Housing and Economic Development, the county works closely with local boards and committees to create job growth incentives and strengthen economic development.
PUBLISHED BY
Passport Publications | passport media group 1555 Palm Beach Lakes Blvd., Suite 1550 West Palm Beach, FL 33401 561.472.8778 | PassportPublications.com
Palm Beach County Business Quarterly is published by Passport Publications & Media Corporation, on behalf of the Business Development Board of Palm Beach County, Inc. All rights reserved. No part of this publication may be reproduced without the expressed written consent of the Business Development Board of Palm Beach County, and the publisher. © 2025 Passport Publications & Media Corporation
Facts & Figures You Should Know
Workforce Palm Beach County
» Labor Force: 783,790
» Employment: 752,274
» Unemployment: 25,975
» Unemployment Rate: 4.1%
Population Palm Beach County
» 1,561,669 (August 2025)
» 1,492,191 (August 2025)
» County Gross Domestic Product: $131 billion (up from $117 billion two years ago); third-highest in Florida and 26th-highest in the U.S.
Birds of a New Feather: Migration Trends
Palm Beach County is drawing an influx of investors, workers and families from around the country and world.
» Top five fastest-growing wealth markets in the world; fourth in the world and second in the nation
Source: Henley & Partners 2025
» $39 billion influx into Florida; Palm Beach County received a fourth of that
» $35.4 billion total gross regional product
» 112% increase in millionaire residents over the past decade
» #1 area for NY relocations
» #1 location to attract and retain the young and wealthy
» $7B+ in personal income makes finance the #1 sector here ranked in that category
Fun Facts
» 72.88°F average temperature
» 39 cities and towns
» 45.4 average age; younger than Naples (66.2) and Sarasota (56.1)
» #14 largest county in the nation
» #4 largest county in Florida
» 26.4 minutes average commute time
» 68 billionaires and 71,000 millionaires
» $39 billion came to Florida, and Palm Beach County captured 1/4 of all money
» 3.3 million civilian labor force in South Florida region
» 10th largest public school district in the nation and Rated A
» Most billionaires per capita than almost any other U.S. ZIP code–Palm Beach island (33480)
» 1 of only 22 counties nationwide to earn the highest possible bond rating (AAA) from all three major rating agencies, reflecting exceptional fiscal health
Recent Corporate Relocations and Expansions Facilitated by the BDB:
» MyBambu – Global fintech firm moved into an HQ that was five times its previous size at 35,000 sq. ft., with plans to employ 350 total people in West Palm Beach.
» HOERBIGER – Opening its new corporate HQ in unincorporated PBC, HOERBIGER is advancing smart mechanical engineering solutions; 400 new jobs, 197,790 sq. ft., $60M investment, $100K avg. salary
» Ideal Nutrition – Revolutionizing healthy eating with techenabled meal prep and logistics; 150 new jobs, 43,000 sq. ft., $2M investment
» G.O.A.T. Foods – Scaling up a data-driven approach to food production and distribution; 150 new jobs, 75 retained, 68,099 sq. ft.
» Celebree Schools – Introducing tech-enhanced early childhood education to West Palm Beach; 30 new jobs, 8,800 sq. ft.
» Global Engine Maintenance – Utilizing AI-assisted diagnostics for aircraft engine overhauls; 30 new jobs, 40,000 sq. ft., $35M investment, $79K avg. salary
» Court Club – Bringing an immersive, tech-driven fitness and wellness concept to Palm Springs; 25 new jobs, 16,000 sq. ft., $18M investment
» Bee Access – Innovating safety systems for vertical building access and maintenance; 20 new jobs, 65 retained, 19,700 sq. ft. of new space added to its campus of 30k sq. ft., $4.1M investment
» BAC Fabrication – Custom-building smart aluminum and steel solutions for construction; 20 new jobs, currently in 1,500 sq. ft., planning for 10,000 sq. ft.
DATA TELLS THE STORY of Palm Beach County. Among the figures …
Palm Beach County: A Global Destination in the Sunshine
Palm Beach County is an international destination. These stats tell the story.
Palm Beach County By The Numbers Industry Clusters By The Numbers
AGRIBUSINESS:
» 625 companies
» 11,120 jobs
» $63,277 average salary
» $1.2 billion total gross regional product
AVIATION/ AEROSPACE/ ENGINEERING:
» 1,960 companies
» 21,524 jobs
» $137,900 average salary
» $5.2 billion total gross regional product
CORPORATE HEADQUARTERS:
» 570 companies
» 10,163 jobs
» $204,739 average salary
» $3.1 billion total gross regional product
DISTRIBUTION & LOGISTICS:
» 729 companies
» 5,788 jobs
» $89,666 average salary
» $780.1 million total gross regional product
HEALTH CARE:
» 6,072 companies
» 71,745 jobs
» $89,979 average salary
» $8.4 billion total gross regional product
TECHNOLOGY:
» 2,211 companies
» 13,329 jobs
» $130,110 average salary
» $3.0 billion total gross regional product
LIFE SCIENCES:
» 684 companies
» 7,729 jobs
» $121,899 average salary
» $1.8 billion total gross regional product
MANUFACTURING:
» 11,597 companies
» 21,545 jobs
» $111,127 average salary
» $4.9 billion total gross regional product
MARINE INDUSTRIES:
» 211 companies
» 2,255 jobs
» $85,097 average salary
» $386.6 million total gross regional product
BUSINESS & FINANCIAL SERVICES:
» 19,894 companies
» 120,791 jobs
» $123,099 average salary
» $35.4 billion total gross regional product
FINANCE FIRMS:
» 2,760 companies
» 11,505 jobs
» $168,797 average salary
» $4.7 billion total gross regional product
» #2 highest average salary in the state ($74,551)
Source: Florida Department of Commerce
» 13th-largest net international migration (32,825)
Source: Miami Realtors
» 4th fastest-growing wealth hub in the world, moving up 7 spots in just 1 year
Source: New World Wealth
» 112% increase in millionaire residents over the past 10 years
Source: New World Health
» #2 in the world for volume boat sales just behind Monaco, with Palm Beach International Boat Show #1 in volume sales in the United States Source: Marine Industries Association
» 150 countries represented in our public school district students, who speak more than 130 different languages, marking the county as one of the most linguistically diverse school systems in the U.S.
Source: PBCSD
» $403.6M in economic impact during 2024 at the Winter Equestrian Festival, with participants from more than 34 countries Source: WEF
» 10% of the South Florida real estate market was from international buyers; 2% was the national rate
Source: Miami Realtors
» 49% of Florida’s international buyer market resides in South Florida, coming from 49 countries, led by Argentina, Colombia, Canada, Brazil, Mexico and Venezuela Source: Miami Realtors
» South Florida’s population increased faster than the nation from net international migration Source: U.S. Census Bureau
Florida By The Numbers
BUSINESS FRIENDLY
» Florida Ranks #1 in the nation for entrepreneurship
» Florida has the 16th largest global economy
» Florida ranks #2 in the nation as the best state for business
» Florida ranks #4 for the best state business tax climate WORKFORCE
» Florida is regularly ranked #1 for higher education
» Florida is #4 in the nation for attracting and developing talent
» Florida has the 3rd largest workforce in the nation
» Florida’s 28 public colleges & 12 public universities align educational programs with high-skilled, high-wage industry needs
INFRASTRUCTURE
» Florida's extensive transportation infrastructure positions Florida as a global business hub
» 120,000+ miles of Roadway
» 2,700+ miles of freight tracks
» 21 commercial airports
» 14 deepwater seaports
» 3 innovative spaceports EXPORTS
» Florida exported $68.9 billion in Florida-origin merchandise exports in 2023
» Nearly 60,000 Florida companies exported goods in 2022
» 95% of Florida exporters are small and medium-sized enterprises.
» SMEs accounted for 55% of Florida exports in 2022.
Data Outline–Poised for Growth:
From housing and transportation to healthcare and industry, Palm Beach County is booming
Industrial and Commercial Properties Snapshot
Industrial and commercial properties are the backbone of a growing economy. In Palm Beach County, a sector snapshot reveals ...
» $4.331 billion—estimated value of commercial property countywide, up 2.56% from 2024
Source: Palm Beach Daily News
» 53,586,336 square feet in total inventory of industrial space Source: CBRE
» 727,179 square feet of industrial space under development Source: CBRE
» 4.493 million square feet of industrial space proposed Source: CBRE
» 53.4 million square feet of office space available countywide Source: BDB
» 1.2 million square feet of commercial space under construction and 1.85 million square feet proposed, as of Q1 2025 Source: CBRE
New Single & Multifamily Residential
Palm Beach County continues to grow with single and multifamily development happening countywide.
» Some 16,900 multifamily units are either planned or under construction (about one-quarter as workforce/affordable housing).
» $5 billion in new construction is anticipated to be added to Palm Beach County tax rolls.
» 2,700: Approximate number of new single-family homes built in 2024, with about half in unincorporated areas.
» 22 new apartment complexes, totaling almost 3,800 units, came online in 2024.
» Palm Beach County is among the 10 most indemand U.S. small-rental markets (Rent Cafe).
» 14% rise in property values across Palm Beach County.
» County property market value hit a record $500 billion.
Source: Palm Beach County Property Appraiser
Transportation Projects Underway
U.S. 1 Bridge Replacement
Location: Town of Jupiter
Constructing agency: Florida Department of Transportation (FDOT)
Construction cost: $122 million
Work consists of replacing the existing bridge, improving facilities for bicyclists and pedestrians, and more.
Expected completion date: Early 2026
Beeline Highway Project
Location: Cities of Riviera Beach, Palm Beach Gardens and West Palm Beach
Constructing agency: Florida Department of Transportation (FDOT)
Construction cost: $148 million
Work will widen sections of State Road 710, replace the Florida’s Turnpike bridge over SR 710, and more.
Expected completion date: Late 2029
Atlantic Ave. Reconstruction Project
Location: Palm Beach County
Constructing agency: Florida Department of Transportation (FDOT)
Construction cost: $26 million
Project improvements include widening Atlantic Avenue and the construction of continuous widened sidewalks and buffered bike lanes in both directions, among other components.
Expected completion date: Summer 2028
Turnpike Widening Projects
Location: From Boynton Beach Boulevard to Lake Worth Road
Constructing agency: Florida’s Turnpike
Construction cost: $170 million
Scope of work: Shifting Central Turnpike Mainline to avoid utility conflicts; reconstructing Hypoluxo Road bridge to allow new road configuration; and more.
Expected completion date: Spring 2026
Constructing Sound Walls Along Central Turnpike Mainline
Location: From West Palm Beach Service Plaza to North of Southern Boulevard
Constructing agency: Florida’s Turnpike
Construction cost: $258 million
The addition of two lanes in each direction from the West Palm Beach Service Plaza (milepost 94) to north of Southern Boulevard/US 98/SR 80 (Exit 98).
Expected completion date: Early 2030
Source: Palm Beach Transportation Planning Agency (TPA)
Five City Growth Stats
(Source: US Census)
Boca Raton
Population: 102,238 (July 1, 2024); +4.9% since 2020
Median age: 45.8 years (2023)
Veterans: 3,674
Foreign-born persons: 19.9%
Owner-occupied housing unit rate: 65.8%
Median value of owner-occupied housing units: $660,100
Boynton Beach
Population: 83,095 (July 1, 2024); +3.6% since 2020
Median age: 42.9 years
Foreign-born persons: 29.5%
Veterans: 3,382
Owner-occupied housing unit rate: 63.8%
Median value of owner-occupied housing units: $312,700
West Palm Beach
Population: 127,744 (July 1, 2024); +8.9% since 2020
Median age: 40.2
Veterans: 4,707
Foreign-born persons: 27.2%
Owner-occupied housing unit rate: 50.2%
Median value of owner-occupied housing units: $369,800
Palm Beach Gardens
Population: 63,284 (July 1, 2024); +6.9% since 2020
Median age: 50.1
Veterans: 3,224
Foreign-born persons: 13.9%
Owner-occupied housing unit rate: 73.4%
Median value of owner-occupied housing units: $554,300
Wellington
Population: 63,258 (July 1, 2024); +2.7% since 2020
Median age: 42.2 years
Veterans: 1,996
Foreign-born persons: 24.3%
Owner-occupied housing unit rate: 74.5%
Median value of owner-occupied housing units: $557,100
Unique statistic: Fifth-fastest-growing Florida municipality since 1990 (from around 20,000 to 63,000+)
Growth at Palm Beach International Airport
Over the past year, Palm Beach International Airport (PBI) has seen strong growth in passenger traffic and is in the midst of hundreds of millions of dollars in facilities construction.
» Surpassed 8.5 million passengers based on an increased number of commercial air carrier flights and passenger demand.
» Nearly completed several phases of Concourse B Expansion, with expanded restrooms, a new restaurant shell space, terrazzo flooring and upgraded lighting. Phase 3 will add new gate capacity, expanded passenger seating and new concessions spaces. Completion target: Summer 2028.
» Begun replacement of the Aircraft Rescue and Firefighting Facility (ARFF) to support emergency response capabilities.
» Started conceptual design on a new terminal connector between Concourses A/B and C through an expanded post-security space.
New Hospitals and Medical Office Planned
Health care is healthy in the county. Palm Beach County’s medical office market has strong occupancy and rents, notes Colliers. Class A medical buildings average $42.92 per square foot, up 9% since 2019.
New hospital construction and expansions planned or in progress include:
» Alan B. Miller Medical Center, Palm Beach Gardens. The seven-story, 365,000-square-foot facility will initially have 150 beds, with plans to expand to 300.
» Cleveland Clinic, West Palm Beach. The new hospital will have 150 inpatient beds, an emergency department, a medical office building and an ambulatory surgery center.
» HCA Florida Palms West Hospital. A $90 million expansion will deliver a 42-bed post-surgical unit and an expanded emergency department.
» Jupiter Medical Center and UF Health Neighborhood Hospital, Avenir. A two-story, 53,000-square-foot facility will offer 24-hour emergency services and inpatient beds, among other services.
» Mass General Brigham Cancer Center, Palm Beach Gardens. The partnership between Tampa General Hospital, Mass General Brigham, and Massachusetts General Hospital will result in a new cancer center.
» NYU Langone Health. A growing presence includes medical services, primary and specialty physicians, and the Julia Koch Family Ambulatory Care Center.
» Palm Beach Health Network expansion countywide. The county’s health service provider will invest $150 million to enhance services at six hospitals and care centers.
» Tampa General Hospital and the Health Care District of Palm Beach County, Belle Glade. Collaboration will enhance quality and access to care at Lakeside Medical Center, the district’s public teaching hospital.
Trends in Housing, Talent and Quality of Life
Workforce Housing Units
Across Palm Beach County, developers and leaders are working to ensure enough workforce and affordable homes for every resident. According to the Housing Leadership Council of Palm Beach County’s “2024 State of Workforce & Affordable Housing in Palm Beach County,” whose goal is to deliver 20,000 units by 2032:
Total workforce and affordable housing units in the county in 2024:
» 929: Completed (854 Rental; 77 Ownership)
» 515: Under construction (506 Rental; 9 Ownership)
» 2,648: Pre-development (2,534 Rental; 114 Ownership)
Affordable and Workforce Units Completed in 2024
» Palm Beach Gardens: 49
» Riviera Beach: 113
» West Palm Beach: 56
» Lake Worth Beach: 37
» Boynton Beach: 247
» Delray Beach: 141
» Glades Community: 46
» Unincorporated PBC: 246
Recent Developments:
The Dune (Rental development): Boynton Beach Developer: Affiliated Development
Workforce Units: 183
Parks at Delray (Under construction): Delray Beach
Developer: Lago Delray North Condo Assoc., Inc.
Workforce Units: 60
Amaryllis Gardens (Rental): Glades Community, Pahokee
Developer: Diverse Housing Services, Inc.
Affordable Units: 45 For Rent
North E Street Cottage Homes: Lake Worth Beach
Developer: CLT of PBCTC
Affordable Units: 3 (For Sale)
Affordable housing dwelling units for household incomes in a range below 60% of area median income, and workforce housing for incomes ranging from 60% to 140% of area median income
APARTMENTS & HOUSING GUIDE
Living Here: Housing Market Trends
Palm Beach County home values and sales traffic continue to reflect a desirable market. As of May 2025 …
» Median price: $530,000 (+3.9% Compared to 2024)
» Median days on market: 87 days (+11 Days yearover-year)
» Homes sold: 2,370 (-13.8% Year-over-year)
Source: Redfin
Average Salary
» Palm Beach County: $74,551
» Miami-Dade: $73,568
» Hillsborough: $71,576
» Broward: $68,536
» Duval: $68,503
Statewide Average: $66,284
Source: Florida Department of Commerce
Workforce Stats Grow
The Palm Beach County job market grew by 9,400 over the past year, with its 4.1% unemployment rate below the state average. Numbers for July 2025 were:
» Employment: 783,790
Fast-growing industries that outpaced the state... INDUSTRY JOB
Source: CareerSource Palm Beach County
Tomorrow’s
Workforce is Career-ready Today.
School District by the Numbers
In the 2023-2024 school year, district schools ranked high:
» The District achieved an “A” rating from the Florida Department of Education.
» 53 schools improved one or more letter grades.
» 113 traditional district-operated schools earned an “A” or “B” grade, which is the highest total number of schools to be “A” or “B” rated in the last five years.
» Alexander W. Dreyfoos Jr. School of the Arts and Suncoast High School were ranked No. 91 and No. 98, respectively, nationally by U.S. News & World Report in 2024.
» Morikami Park Elementary in the Delray Beach area was ranked sixth in Florida—one of seven ranked in the state’s top 50.
New Public Schools in the Pipeline
Palm Beach County is planning several new schools. These include…
» An elementary school in the western area near Arden. Initially planned for 2026, opening has been expedited to August 2025 due to rapid growth. Capacity: 950; Theme: “Coastal farmhouse chic”
» A Riviera Beach high school under discussion, with plans to potentially relocate Inlet Grove Community High School and build a new high school on the current Inlet Grove site. Timeline: Several years.
More Students, More Schools
Custom education is growing to meet student needs. Three new schools seek to accelerate learning for students of all ages.
» Celebree School, West Palm Beach. An 8,800-squarefoot early childhood education center developed in a partnership between Celebree School and Sympatico Real Estate.
» Xceed Preparatory Academy, Boca Raton. The Cogniaaccredited school educates children between the sixth and 12th grades and allows families to create their own schedules.
» Wellington Preparatory Academy, Wellington is a coeducational, non-sectarian private Pre K-12 school with a mission to deliver a top academic education.
» New Private School Coming to Wellington. Children up to fifth grade in Wellington, Greenacres and Lake Worth Beach will enjoy instruction from professional educators. Set to open by 2028
Our Colleges & Universities
Florida Atlantic University
30,000 undergraduate and graduate students in Palm Beach County
Ranked as an R1 research university by the Carnegie Classification
Keiser University
2,000 students in West Palm Beach
Ranked Top 25 for Social Mobility in the U.S. for last four years straight - U.S. News & World Report
Lynn University
3,514 students in Palm Beach County
Ranked by U.S. News & World Report among best online programs
Nova Southeastern University
21,000+ students total with a campus in Palm Beach Gardens
Ranked as an R1 research university by the Carnegie Classification
Palm Beach Atlantic University
4,147 students in West Palm Beach
Ranked one of only 10 Council for Christian Colleges and Universities (CCCU) institutions to earn AACSB accreditation, making it the only CCCU-AACSB accredited school in Florida
Palm Beach State College
36,000 students in Palm Beach County (5 campuses) Ranked 76th out of 250 colleges across the U.S.; and was sixth out of the 23 Florida colleges and universities
The Wertheim UF Scripps Institute for Biomedical Innovation & Technology
The Wertheim UF Scripps Institute for Biomedical Innovation & Technology (formerly Scripps Florida) is a research institute that seamlessly accelerates the translation of basic scientific discoveries into clinical advances that benefit human health. Hundreds of Palm Beach County high school students and science teachers have trained at the campus and worked with scientists during internships and semesters. Its Postbaccalaureate Research and Education Program allows bachelor’s degree recipients to increase their academic and laboratory skills in preparation for application to high-caliber, researchoriented Ph.D. programs.
Vanderbilt University
Vanderbilt University’s planned West Palm Beach Campus will be home to a graduate school focused on business, data science and A.I., and an innovation center.
» A 300,000-square-foot campus with an academic building, student housing and a parking garage
» Accommodation of 1,000 graduate students
» Five acres of county-owned land and two acres of cityowned land
» A projected $300 million investment
» A state-of-the-art innovation center for startups, investors, established businesses and academia
Welcome to the Complete Side of Care.
Wherever you are in Palm Beach County, Baptist Health is here for you, providing the compassionate, quality care you deserve, right when you need it.
Across South Florida, our complete network includes: 12 hospitals
Renowned institutes for cancer, heart, brain and spine, and orthopedic care
200+ physician practices and outpatient centers
Over 4,000 doctors and 27,000 caregivers
At Baptist Health, caring for you is at the heart of all we do.
From the PC to Quantum: FLORIDA’S NEXT GREAT LEAP Matt Cimaglia
I’VE SPENT MY CAREER at the intersection of creativity and technology. But few things have pulled me forward like quantum computing. It’s not just another chapter in the tech playbook—it’s a reimagining of the book itself. And for me, the journey isn’t just about building companies or investing in breakthrough science. It’s about bringing this revolution home—to Florida.
Let’s start with the technology. Classical computers, for all their power, are bound by binary logic: 1s and 0s, on or off Quantum computers operate on a different plane. Their basic units—qubits—can exist in multiple states simultaneously. They can be entangled, influencing one another across distances. What that means in practice is staggering: molecular modeling for drug discovery, financial modeling with exponentially fewer assumptions, materials science that moves from lab to industry in weeks, not years.
It sounds like science fiction. But it’s already happening. The global race is on, and the question is no longer if quantum will reshape the world—but where it will take root first.
Palm Beach County has long been at the crossroads of innovation—from training America’s radar specialists during World War II at the Boca Raton Army Air Field, to the invention of the IBM PC just down the road, to cutting-edge oceanic and medical research happening today at Florida Atlantic University. And of course, Florida has been the launchpad of the space race. Now, it’s time to aim for quantum.
Too often, we assume that frontier technologies only emerge from places like
Silicon Valley, Boston, or overseas labs. But history tells us otherwise. Bold ideas thrive where there’s vision, infrastructure, and the will to act. Florida has all three. What we need now is alignment—between public and private sectors, research institutions and capital markets, educators and entrepreneurs.
Through Quantum Coast Capital, I’m helping build that alignment. We’re building the foundation not just to fund companies, but to support a full ecosystem. That means collaborating across states and borders, forming diverse teams of scientists, engineers, policymakers, and entrepreneurs— all working together to accelerate quantum progress. It’s slow, deliberate work. But it’s exactly the kind of work that built the internet, mapped the genome, and got us to the moon.
And it’s personal. I grew up in Boca Raton. I started my first company here. This place taught me how to think big and build lean. Now, I want to help the next generation of founders and researchers do the same—with access to the most powerful computational tools humanity has ever created.
Quantum computing isn’t just a technical leap—it’s a generational opportunity. And Florida is ready. We’ve launched rockets. We’ve trained radar specialists. We’ve built the personal computer. The next frontier is here—and we don’t have to watch it happen from the sidelines.
Matt Cimaglia is the Founder and Managing Partner of Quantum Coast Capital. He grew up in Florida and is helping establish the state as a hub for quantum innovation.
The BDB—Guiding Your Success
THE BUSINESS DEVELOPMENT BOARD helps companies grow in Palm Beach County. The county’s leading economic development agency offers dynamic, complimentary services for companies looking to relocate or expand. Working handin-hand with local brokers and site consultants, we provide unmatched support to help businesses succeed:
1
) Site inventory on available industrial buildings, land, and office space through a state-of-the-art computerized tracking system.
2) Site tours personally conducted by our Business Relocation and Expansion Staff
3) Connection to grants, assistance and financial incentives available through the State of Florida, Palm Beach County, and local municipalities; and permitting, zoning and regulatory guidance.
4) Introductions to CareerSource Palm Beach County employee-training programs; elected officials and local business leaders; banks, law firms, employment agencies, accounting firms and other potential partners.
5) Data and Resources (housing and cost of living; local buyer and supplier information; demographics and labor market information; available services and rates for utilities, communication, and transportation).
The BDB also provides customized technical presentations tailored to specific site requirements, as well as family-focused tours showcasing recreational and cultural amenities, along with our public, private, and parochial schools through universitylevel educational institutions.
ARE YOU A SMALL BUSINESS OWNER in Palm Beach County seeking greater access to government contracting opportunities? The Palm Beach County Office of Equal Business Opportunity (OEBO) offers Small Business Enterprise (SBE) certification to help local businesses compete for county contracts in construction, professional services, goods, and other services.
Key advantages of SBE certification include:
» A minimum mandatory goal of 20% SBE participation on County contracts
» Enhanced scoring in proposal evaluations
» Dedicated support and resources to foster long-term business growth
Visit https://discover.pbcgov.org/oebo/Pages/CertificationProgram.aspx to review eligibility criteria, or contact the OEBO at 561.616.6840.
IN ANY MARKET, college students and job trainees often need internships to boost their skills. Employers, from nonprofits to small businesses and Fortune 500s, need interns to fill critical roles or as a way to scout a potential future workforce. How can they connect? In Palm Beach County, connecting is a click away.
InternPalmBeach.com is the new centralized countywide internship and apprenticeship portal that bridges the gap between employers and emerging talent by removing the hassle of posting to or searching countless employer sites or job boards.
» Companies across the county’s key sectors, as well as nonpro their positions and specifications, such as student GPA and other quali positions will be vetted by CareerSource before going live.
» In- and out-of-town students and graduates can search by industry, job, zip code and other details. Like any job seeker, interns also can access CareerSource services, such as job counseling, networking and resume review.
» An online tool kit will help employers and candidates alike, with insights on running an internship, improving job skills and other common questions.
The portal, from CareerSource Palm Beach County, the Business Development Board of Palm Beach County, and Palm Beach County government, launched this summer.
“This makes the internship process easier for employers and students,” says Julia Dattolo, president and CEO of CareerSource Palm Beach County, who watched as her own kids struggled to internships. “Our number one export is educated youth, which local employers need. This will help companies recruit and retain the best and brightest right here in the county.”
Learn more at www.internpalmbeach.com or by sending an email to internship@careersourcepbc.com.
CareerSource Palm Beach County’s full-service centers are staffed with career consultants who are dedicated to serving first-time, experienced and professional job seekers. The services include career consulting, computers for job searches, internet access to our statewide jobs database Employ Florida, job search and placement services, workshops, training opportunities, work assessments and more. To learn more, go to careersourcepbc.com.
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