PALM BEACH COUNTY’S NATIONAL IMAGE: “RICH AND RICHER”

Published Friday, February 28, 2020

A group of site selection consultants who spent two days touring Palm Beach County offered their impressions Friday to politicians and political leaders in West Palm Beach. The visitors noted the swanky vibe.

By some economic measures, Palm Beach County is a middle-brow place, one where workers earn a bit less than the national average.

Yet the county’s national image is dominated by mansions and yachts -- a perception that might hinder Palm Beach County’s ability to attract employers from other parts of the country.

A group of site selection consultants who spent two days touring Palm Beach County offered their impressions Friday to politicians and political leaders in West Palm Beach. The visitors noted the swanky vibe.

Jim Beatty of NCS International in Omaha, Nebraska, summed up the county thus: “Rich and richer.”

The Business Development Board of Palm Beach County brought in Beatty and four other location experts for a guided tour. They visited the Boca Raton Innovation Center, downtown West Palm Beach, the Honda Classic and the labs of Scripps Florida and Max Planck Florida.

Beatty specializes in finding homes for call centers and other back-office operations, employers not known for paying high wages.

“The companies I work with, not everybody is going to be able to go into a $359,000 home,” Beatty said, citing a figure close to the median price of a single-family house in the county.

For all of Palm Beach County’s obvious wealth, the county’s 1.5 million residents make a bit less than Americans overall.

The county’s median household income is $69,691, a bit below the national median of $69,937, according to the U.S. Census Bureau’s 2018 American Community Survey.

Despite his concerns about Palm Beach County pricing itself out of the running, Beatty said he was impressed.

“The area shows well, no doubt about it,” Beatty said.

Another location expert, George Tobjy of KPMG, said Florida’s low taxes will make it more appealing to business owners looking to relocate from New York, Massachusetts and other high-tax states.

The exodus hasn’t happened yet, Tobjy said, perhaps because the booming economy has made business owners willing to pay taxes. But if the economy cools, he said, Florida can expect an influx of new arrivals.

“It’s coming,” Tobjy said.

 

 

The Palm Beach Post

 

 

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