Since 2020, Palm Beach County has undergone a significant economic shift, diversifying beyond its traditional strongholds in agriculture, construction, and tourism. While these sectors remain essential, a recent study highlights the emergence of three key industries: Finance, Life Sciences/Healthcare, and Corporate Headquarters. This shift has been driven by intentional efforts to expand the local economy. Today, Palm Beach County is leading the way in innovation and cutting-edge technology.
In northern Palm Beach County, two world-class research institutions—the Herbert Wertheim UF Scripps Institute and the Max Planck Florida Institute for Neuroscience—are joined by Florida Atlantic University, the FAU Stiles-Nicholson Brain Institute, and the state-of-the-art ZEISS facility. The region also hosts major aerospace companies, including Pratt & Whitney and Aerojet Rocketdyne.
Moving to the county’s center, “Wall Street South” has emerged as a thriving financial hub, attracting hundreds of financial firms in recent years. With over a million square feet of office space under development, global companies such as Goldman Sachs, BlackRock, Citadel, Point72, Elliott Management, NewDay USA, and Virtu Financial have chosen Palm Beach County for their operations.
Additionally, Palm Beach County is home to 539 corporate headquarters, many of which are concentrated in the southern part of the county. These include Fortune 500 companies like ADT, SBA Communications, Shoes for Crews, Orangetheory, Celsius, ModMed, and Garden of Life. Palm Beach Gardens, in particular, proudly hosts the world headquarters of Carrier Corporation and TBC Corporation.
Leading this economic transformation is the Business Development Board (BDB), Palm Beach County’s official economic development organization. The BDB plays a pivotal role in attracting corporate relocations, supporting expansions, and ensuring company retention by offering services like expedited permitting, property searches, connections with educational institutions, customized presentations, tours, and information on state and local incentives.
Many of the companies that have driven Palm Beach County’s recent economic growth have done so through close partnerships with the BDB. At the helm of this initiative is Kelly Smallridge, President and CEO of the BDB, the longest-serving economic development president in Florida and the first woman to lead a South Florida economic development organization. Known for her success in negotiating major deals and her vision for advancing key sectors like fintech and aviation, Smallridge is steering Palm Beach County into a future of continued economic excellence.
