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October 7, 2019 - PALM BEACH COUNTY, FL - Palm Beach County's life science industry has attracted FloraScentials, a startup developing innovative product lines for the floral industry, ultimately restoring the fragrance of cut flowers that have lost their scent. After working with the Business Development Board, Palm Beach County's official economic development organization, the company plans to employ up to 10 people and create a capital investment of $1.8 million by the end of 2020. Moving to West Palm Beach from St. Louis, the new site will be in close proximity to Palm Beach Wholesale Florists that will provide cut flowers for FloraScentials’ product development activities.
FloraScentials plans to hire a CFO, horticulturist, analytical chemist, formulations chemist, lab assistant, manufacturer, and three sales representatives by the end of next year. The company will expand product lines, create new technologies, and expand on its unique invention that enhances the scent of cut flowers, restoring their natural fragrance. Entering an untapped market, the company has validated the need for these products with florists, wholesalers, growers, market research, and securing several strategic partners with access to the global floriculture industry.
"A key determinant for relocating FloraScentials to Florida is the importance of the floral industry to the state. Palm Beach County has been very supportive of our company efforts," said Randy Weiss, Ph.D., Co-Founder and CEO of FloraScentials. "In our view, Palm Beach County has the best availability of capital resources, skilled employees, excellent service providers, and affordable space for our company to achieve its desired growth."
The Business Development Board assisted FloraScentials by introducing it to Palm Beach County’s diverse business community. Making the necessary connections in the life science industry, as well as introductions within the entrepreneurial ecosystem, were key attributes in securing this technology in Palm Beach County. FloraScentials is also considered a “Behind the Gates” project, an initiative superheaded by the BDB to assist business leaders with second homes in Palm Beach County with moving their businesses here, too.
“FloraScentials will bring innovation to the global floral industry from Palm Beach County,” said Kelly Smallridge, President and CEO of the Business Development Board. “Enhancing the natural scent that the flowers themselves produce could dramatically increase the value of this important agricultural product.”
About FloraScentials: FloraScentials, Inc., founded in 2018, is developing new and innovative product lines for the floral industry to restore fragrance of non-fragrant cut flowers. The company has validated the need for these products with florists, wholesalers, growers, market research, and the company's strategic partner, a leading provider of products to the global floriculture industry.
About Business Development Board: 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, our primary purpose is to attract and retain new industry, business investment, high quality jobs and workforce development through corporate relocations, expansions and international trade. During the past five years, the BDB has assisted companies that have created more than 12,822 direct jobs with average salaries greater than $69,062, resulting in more than $777 million in capital investment to Palm Beach County and an economic impact that exceeds $6.87 billion. Additional information can be found at the BDB’s web site, BDB.org.