Why Palm Beach
The answer is simple: Progressive business policies, a robust workforce, and a positive economic climate encourage innovative partnerships and capital investment that enables companies to compete globally. For the last three decades, Palm Beach County companies enjoyed our increasingly "pro-business" climate and rapid economic growth, positioning us as a top location for building corporate wealth.
The caliber and diversity of companies residing here demonstrate our attractiveness to a wide range of industries that enjoy our enviable quality of life and continued economic growth, favorable tax structure and business climate, our growing consumer market, expanding talent pool, an educational system committed to excellence, state-of-the-art transportation facilities, and a strong asset base.
Truly…Innovation. Starts. Here.
Top 10 Reasons to do Business in Palm Beach County:
- Growing Business Clusters
- Fast-Growing Economy
- Supportive Local Governments
- Excellent access to global customers
- Committed Workforce
- Energized Financial Sector
- Award-Winning K-12 Educational System
- University and Colleges Committed to Business
- Affordable Business Climate
- Family friendly activities and resources
- NO corporate income tax on limited partnerships.
- NO corporate income tax on sub chapter S-corporations.
- NO state personal income tax guaranteed by constitutional provision.
- NO corporate franchise tax on capital stock.
- NO state-level property tax assessed.
- NO property tax on business inventories.
- NO property tax on goods-in-transit for up to 180 days.
- NO sales and use tax on goods manufactured or produced in Florida for export outside the state.
- NO sales tax on purchases of raw materials incorporated in a final product for resale, including non-reusable containers or packaging.
Florida offers Sales and Use Tax Exemptions on:
- Machinery and equipment used by a new or expanding Florida business to manufacture, produce, or process tangible personal property for sale.
- Labor, parts and materials used in repair of and incorporated into machinery and equipment.
- Electricity used in the manufacturing process.
- Certain boiler fuels (including natural gas) used in the manufacturing process.
- Semiconductor, defense, and space technology-based industry transactions involving manufacturing equipment.
- Machinery and equipment used predominantly in research and development.
- Labor component of research and development expenditures.
- Commercial space activity — launch vehicles, payloads and fuel, machinery, and equipment for production of items used exclusively at Spaceport Florida.
- Aircraft parts, modification, maintenance and repair, sale, or lease of qualified aircraft.
- Production companies engaged in Florida in the production of motion pictures, made-for-television motion pictures, television series, commercial music videos, or sound recordings.
As your business grows, it is critical to find a location that affords you every opportunity to be successful and as such, Palm Beach County excels in all of these areas: A well-educated workforce; a competitive business climate; access to high quality healthcare; a strong and stable housing market; and a great place to raise a family.
Virtually every business sector is flourishing in South Florida, from regional and international corporate headquarters, to research and development institutions. Several targeted industries are and will continue to gain momentum: Agribusiness; aviation, aerospace & engineering; business/financial services; corporate headquarters; creative industries; equestrian industries; green energy; healthcare; IT/telecommunications; international commerce; life sciences; and marine industries. Each of these clusters enjoys a supportive environment helping start-up businesses, small- and mid-size companies, and Fortune 500 multinationals achieve and sustain success.
Combine all that with the world's best executive and family lifestyle and you'll understand why Palm Beach County is THE choice for corporations of all sizes.
We know that a business is only as good as its employees, and Palm Beach County has a skilled and diverse workforce energized by a quality of life that is sought by people around the world.
The Business Development Board offers a team of experts to assist you with your relocation and expansion needs. Contact us, and let us show you why, in Palm Beach County, innovation really DOES start here.
Where can you get more information?
Business Development Board of Palm Beach County
310 Evernia Street, West Palm Beach, FL 33401
Kelly Smallridge, President and CEO
Gary Hines, Senior Vice President, Administration
Shawn Rowan, VP, Business Retention and Expansion