PALM BEACH COUNTY COMPANY RECEIVES TRAINING GRANT TO RETAIN 250 JOBS

Published Friday, December 13, 2019

DECEMBER 13, 2019 - Jupiter, FL - The Business Development Board of Palm Beach County (BDB), in cooperation with CareerSource Florida, is pleased to announce that Parametric Solutions, Inc. (PSI), an engineering firm specializing in gas turbine design, analysis, parts procurement, instrumentation, assembly and testing has been approved for a reimbursement training grant for its existing employees through the State of Florida Incumbent Worker Training Grant program (IWT). The IWT will enable PSI to retain 250 jobs at its facilities headquartered at 831 Jupiter Park Dr. in Jupiter, Florida.

The BDB assisted the company to secure an Incumbent Worker Training Grant through its partnership with CareerSource Florida. This grant will help enhance skillsets for employees and fill any workforce gaps.

“Parametric Solutions is thankful to the Business Development Board, CareerSource Florida, and the State of Florida for providing assistance and funding for training for our talented employees.  This training grant will enhance workforce skills to promote customer satisfaction, job retention and growth for our future,” said Catherine Barre, President of Parametric Solutions, Inc.

"Palm Beach County’s Aviation, Aerospace, and Engineering industry is home to more than 1,350 companies with average wages of $94,000, employing 17,000 people.  Parametric Solutions is one of the largest and continues bring new technologies to Jupiter,” said Kelly Smallridge, President and CEO of the Business Development Board. 

“The ability to retain and upskill employees while helping them prosper is essential for business growth,” said Michelle Dennard, President and CEO of CareerSource Florida. “The Incumbent Worker Training grant program helps Florida businesses, like Parametric Solutions, enhance their employees’ knowledge, skills and productivity. We are honored to partner with the Business Development Board of Palm Beach County to ensure Florida builds and maintains a globally competitive workforce.”

About Parametric Solutions Inc.:  Parametric Solutions Inc. (PSi) is an engineering services company that performs mechanical design and analysis work for a wide variety of clients, from inventors all the way up to the largest corporations in the world. The industries supported include aerospace, consumer products, medical equipment, green energy, and transportation. Since 1993, PSi has tackled projects throughout the full product development cycle, from initial concept to manufacturing. PSi's success with such a diverse client and industry base can be attributed to the state-of-the-art design and engineering skills PSi developed in its main field of specialization: the power generation and industrial/aviation gas turbine industry.

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, 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 13,000 direct jobs with average salaries greater than $68,000, resulting in more than $627 million in capital investment to Palm Beach County and an economic impact that exceeds $6.95 billion. Additional information can be found at the BDB's website, BDB.org.

-BDB-

Investors

#1 Palm Beach County Board of County Commissioners Aerojet Rocketdyne Bank of America Bank United Baptist Health South Florida
Caler, Donten, Levine, Cohen, Porter & Veil, P.A. CareerSource Carrier DePuy Synthes Power Tools, a Johnson & Johnson Company Equestrian Center
Florida Crystals Corporation FPL Greenberg Traurig Gunster Hardrives, Inc.
HCA Palm Beach Hospitals Hedrick Brothers Construction Hospital for Special Surgery J.C. White JP Morgan Chase
LRP Publications Martens Group Minto Communities, LLC NCCI Nova Southeastern University
Palm Beach Aggregates, LLC Palm Beach Park of Commerce PNC Bank Pratt & Whitney (A United Technologies Company) Raymond James Financial Services/Boynton Financial Group, Inc.
RSM South Florida Business & Wealth Magazine South Florida Business Journal Stiles-Nicholson Foundation TD Bank
Tortoise Properties Wells Fargo & Company Wexford Capital