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Kelly Smallridge, who leads the Business Development Board of Palm Beach County, is working on the relocation of a national technology company's headquarters to Boca Raton.
A national company is considering a site in Boca Raton for its headquarters that could bring $55.6 million in economic impact, according to the Palm Beach County Commission agenda for Tuesday.
The undisclosed company would invest $1.35 million to lease, renovate and equip a 12,500-square-foot space in Boca Raton. The company said it plans to create 30 jobs at an average wage of $95,550 a year, according to the agenda item.
The company has no current presence in Palm Beach County, said Kelly Smallridge, president of the county’s Business Development Board, the county’s public-private economic development partnership. She said the technology company falls within the group’s “Behind the Gates” initiative, where it reaches out to CEOs who have purchased a second home in Palm Beach County.
County commissioners are scheduled to consider an economic incentives package for the company that includes $210,000 in tax refunds and cash, including $168,000 from the state and $42,000 from county and city government.
For competitive reasons, the company name of an economic development project is disclosed after an incentives agreement is finalized with the state.
Separately, the Business Development Board announced in August that FlexShopper, a national online lease-to-own e-commerce company, was consolidating multiple locations into one headquarters office at 901 Yamato Road, Suite 260, in Boca Raton. The company has leased 21,622 square feet where it plans to employ up to 200 people.