PALM MEADOWS THOROUGHBRED TRAINING CENTER IN SUBURBAN BOYNTON BEACH TO BE EXPANDED

Published Friday, September 25, 2020


September 25, 2020 – BOYNTON BEACH, FL – The Business Development Board of Palm Beach County (BDB) is pleased to announce the expansion of the Palm Meadows Thoroughbred Training Center in suburban Boynton Beach.

The Stronach Group, owners of the Palm Meadows Thoroughbred Training Center, have submitted plans for the construction of a multi-million dollar expansion project, that when completed, will add four new 88 stall horse barns that will increase stable capacity by 25% to 1,720 stables. The construction will also include the development of two new 52 room grooms’ quarters and will create an estimated 375 new jobs. Principal construction is expected to begin at the end of 2020 pending all approvals.  

“The Palm Meadows Thoroughbred Training Center project is yet another example of The Stronach Group’s commitment to the investment into the sport of Thoroughbred racing and to the communities that surround our racing and training venues,” said Colin Chapin, Chief Executive Officer, 1/ST PROPERTIES and Chief Financial Officer, The Stronach Group. “The Stronach Group thanks the Business Development Board of Palm Beach for their support and collaboration on the Palm Meadows project.”

“Palm Beach County is extremely fortunate to be the home of this expanding Thoroughbred facility.  The horse industry has a $900 million annual economic impact in the state of Florida and we are proud to be the epicenter for most of that activity.  Horse breeding and racing generates jobs in the care, feeding, training and transporting of horses and we welcome this investment in our county,” said Kelly Smallridge, President and CEO of the Business Development Board.  

Palm Meadows Thoroughbred Training Center is a state-of-the-art Thoroughbred racehorse training facility located on 286 acres just outside Boynton Beach. The training surfaces consist of a 1 1/8-mile main track (100' wide), a 7/8-mile turf track (176' wide) and a one-mile, L-shaped jogging track (80' wide), which borders the main track. The surfaces of the tracks are similar to that of Gulfstream Park in Hallandale Beach, also owned by The Stronach Group, a world-class technology, entertainment and real estate development company with Thoroughbred racing and pari-mutuel wagering at the core. The company’s consumer facing brand 1/ST (pronounced “First”) powers The Stronach Group’s forward-thinking 1/ST RACING, 1/ST TECHNOLOGY, 1/ST LIVE and 1/ST PROPERTIES businesses, while advocating for and driving the 1/ST HORSE CARE mission. 1/ST PROPERTIES is responsible for the development of the company’s live, work and play communities surrounding its racing venues.

The Business Development Board assisted The Stronach Group’s 1/ST PROPERTIES on permitting questions with Palm Beach County and provided a contact at Florida Power & Light (FPL).

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About The Stronach Group and 1/ST: The Stronach Group is a world-class technology, entertainment and real estate development company with Thoroughbred racing and pari-mutuel magering at the core. The company’s consumer facing brand 1/ST (pronounced “First” powers The Stronach Group’s forward-thinking 1/ST RACING, 1/ST TECHNOLOGY, 1/ST LIVE and 1/ST PROPERTIES businesses, while advocating far and driving the 1/ST HORSE CARE mission. 1/ST represents The Stronach Group’s continued movement toward redefining Thoroughbred racing and the ecosystem that drives it. 1/ST RACINGdrives the best-in-class horse racing operations at the company’s premier racetracks and training centers including: Santa Anita Park, Golden Gate Fields and San Luis Rey (California); Gulfstream Park – home of the Pegasus World Cup Championship Invitational Series, and Gulfstream Park West (Florida); and Laurel Park, Pimlico Race Course – home of the legendary Preakness Stakes, Rosecroft Raceway and Bowie Training Center (Maryland). 1/ST TECHNOLOGY is horse racing’s largest racing and gaming technology company offering world-class products via its AmTote, Xpressbet, 1/ST BET, XB SELECT, XB NET, PariMAX, Betmix, Monarch and XBTV brands. 1/ST LIVE blends the worlds of sports, entertainment and hospitality by delivering uniquely curated events such as InfieldFest and Pegasus LIV Stretch Village. 1/ST PROPERTIES is responsible for the development of the company’s live, work and play communities surrounding its racing venues including, The Village at Gulfstream communities surrounding its racing venues including, The Village at Gulfstream Park (Florida) and Paddock Pointe (Maryland). As the advocate for critical industry reforms and by making meaningful investments into aftercare programs to retired horses and jockeys, 1/ST HORSE CARE represents The Stronach Group’s commitment to achieving the highest level of horse and rider care and safety standards in Thoroughbred racing on and off the track. For more information please visit www.1st.com.

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.


 

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