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Businesses Continue to Invest in Palm Beach County

Posted by Joe Mehling on Friday, October 30th, 2020 at 2:16pm.

Palm Beach County is open for business and the world is listening. In the past few weeks Palm Beach County has secured large investments from two national companies.

Elliot Management, a $41-billion dollar hedge fund out of New York, recent announced plans to move into the Phillips Point complex in West Palm Beach. The short-term lease is temporary space until Elliott can open more permanent offices of at least 25,000 square feet. The likely landing spot, according to the Palm Beach Post is 360 Rosemary, the new office building under construction by Related Cos. at Rosemary Square, according to two real estate sources. By establishing West Palm Beach as its headquarters, the firm will be able to escape New York's high taxes. 

The second was a multi-million dollar investment by Element Materials Technology to increase its aerospace testing capabilities. Rick Sluiters, EVP Americas at Element, said: “The Jupiter laboratory is a center of excellence for highly engineered testing, including hydraulic and pneumatic test simulation, and is a critical service-and-solution provider for aerospace, defense, nuclear and other industries, both locally and worldwide. These investments are part of a larger plan to grow the laboratory’s offering, which ranges from providing increased capacity and more technical services, to moving some facilities indoors for customer comfort and improving infrastructure to reduce customer set-up costs.

Here are a few reasons why Florida is the haven you need for your business. 

Tax Advantage

Florida has long been an attractive state for tax-conscious individuals and families because it doesn’t have an individual income tax. Plus, the state has garnered attention for its favorable business taxes. In 2019, the state ranked 4th on The Tax Foundation’s State Business Tax Climate Index, which shows how well states structure their tax systems and provide a road map for improvement.

Access to Capital

Florida ranks fifth in the nation for venture capital funding, according to U.S. News & World Report. In 2019, startups in the state received $511 million in seed capital. If you think Silicon Valley is the only place to find startup capital for your business, you might want to take a closer look at Florida

Quality of Life

You can’t work all the time. In fact, you’ll probably be a better business owner if you prioritize a healthy work/life balance!

If you’re looking for a place to run your business that also has a high quality of life, Florida may be a great option due to its sunny weather, world-class beaches, golf courses, and other outdoor hot spots. Take a look at a few of our listings https://www.waterfront-properties.com/idx/, you’ll get a sense of what we are talking about.

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