© 2016 All rights reserved.
WEST PALM BEACH, FLA. – In partnership with Palm Beach County, The Business Development Board of Palm Beach County (BDB) today announced that Smart for Life ® (www.smartforlife.com), a medical weight loss company, will consolidate its commercial bakery from Wellington and its administrative office from Boca Raton to a new 25,000 sq. ft. facility in Riviera Beach. The company’s 50 employees are included in the move. Furthermore, the larger location will accommodate an additional 25 employees that the company forecasts it will need to meet rising demand.
According to Smart for Life’s founder, Dr. Sasson E Moulavi, the company was open to all options in order to expand its bakery operations while saving costs. Moulavi even considered moving to Mexico. “We did not think we would be able to continue to make our product here with enough cost-savings to make it worthwhile. It has made all the difference to work with the BDB and Palm Beach County. Consolidating our operations here will allow our budget to go up and do things we couldn’t have done in our present situation. As a result of our expansion capabilities, we will be able to increase our exports and our other contracts,” said Moulavi.
To help Smart for Life find the new location, the BDB provided property search results and the company also worked with local realtor, Diane Heinz. The BDB reviewed available state, local and federal tax incentives and provided information about the benefits of Local Enterprise Zones. The BDB also introduced the company to the County’s Office of Economic Development to explore alternative funding sources. Through the County, the company is currently pursuing a $240,000 Energy Loan to fund energy efficiency retrofits at their baking facility. In addition, the expansion project includes a $73,000 Section 108 Loan through Palm Beach County, and $2.3 million in bank and SBA financing. The City of Riviera Beach supports expediting the company’s permitting process.
About the BDB
The Business Development Board of Palm Beach County is the official public/private economic development organization for Palm Beach County and Enterprise Florida. Founded in 1982 as a not-for-profit corporation, its primary purpose is to attract and retain new industry, business investment, and high quality jobs through corporate relocations, expansions and international trade. During the past five years, the BDB has assisted companies that have created more than 7,700 direct jobs with average salaries greater than $55,400, resulting in more than $355 million in capital investment to Palm Beach County and an economic impact that exceeds $1.8 billion. Additional information can be found at the BDB’s website, BDB.org.