November 13 2020
Palm Beach County’s economic resilience in the face of unprecedented challenge is the center of focus at the launch of the second edition of Invest: Palm Beach 2020.
Palm Beach County, FL. – In this time of uncertainty, it has never been more important to demonstrate the strength and overall resilience of the local community and economy. On Thursday, integrated media platform Capital Analytics provided an opportunity to shed light on the challenges and opportunities in the region as it launched its annual analysis, Invest: Palm Beach 2020, with a virtual business conference held via Zoom Webinar.
Known for its increased population growth, tourism and reputation as a major professional and financial services hub, Palm Beach County is poised for continued growth and economic diversification even in the midst of current coronavirus-related challenges and uncertainty. Invest: Palm Beach dives into the top economic sectors in the county, including real estate, construction, utilities and infrastructure, transportation and aviation, banking and finance, legal, healthcare, education and arts, culture and tourism.
Like other parts of the nation, Palm Beach County has felt the economic constriction and health challenges created by the pandemic. But it has also experienced notable job expansions especially in the financial services sector, Kelly Smallridge, CEO of the Business Development Board of Palm Beach County, told the virtual audience in her opening keynote address. “We are facing unprecedented times, but our business development board has witnessed Palm Beach County entering into a very unique situation where we believe our economic activity has spiked as a result of COVID,” Smallridge said at the event. “We are becoming the premiere location for where wealth is locating. We call this the ‘Wall Street South Movement.’ We have seen this trend for about the last five to eight years but COVID-19 has exacerbated that trend.”
The pandemic has also allowed city and business leaders to collaborate on addressing recovery efforts and creating solutions for the socio-economic challenges highlighted by the pandemic. “The economy’s underlying strength, many business leaders believe, will provide for greater growth over the long term. Capital Analytics remains steadfast in our purpose: to deliver in-depth business intelligence through its print and digital platforms. Now more than ever, information is not only necessary, it is vital,” said Abby Melone, president and CEO of Capital Analytics.
The panels addressed the current economic climate as well as prevailing themes dominating Palm Beach County’s economy, mainly development opportunities in the region and the importance of community engagement in driving growth.
The first panel, Innovation in Development: Finding opportunity in an unprecedented time, explored how the residential and commercial real estate markets fared during the COVID-landscape and what the future may look like for the office, residential, retail and industrial sectors. Moderated by Palm Beach County Department of Planning, Zoning & Building Executive Director Ramsay Bulkeley, the panel featured REG Architects President Rick Gonzalez, Brookwood Group Senior Vice President Mark Troen, Crocker Partners Senior Vice President Brett Reese and Broward, Palm Beaches & St. Lucie Realtors® CEO Dionna Hall.
The panel, Cultivating economic and community engagement to drive growth, focused on municipalities’ efforts to maintain operations and keep residents safe during this time. Moderated by Gunster CEO and Managing Shareholder H. William Perry, the panel featured West Palm Beach DDA Executive Director Raphael Clemente, Palm Beach Gardens Director of Planning and Zoning Natalie Crowley, Delray Beach CRA Executive Director Renee Jadusingh and Village of Wellington Deputy Village Manager Jim Barnes.
Almost 400 high-level guests and officials from Palm Beach’s key industries and economic institutions tuned into the event via Zoom Webinar. For those who missed the event or would like to revisit some of the highlights from the day, please visit: https://www.youtube.com/watch?v=ZR5l3P9qiF0
About Capital Analytics & Invest: Palm Beach
About Capital Analytics:
Capital Analytics produces in-depth business intelligence with a focus on providing comprehensive investment knowledge on markets within the United States for the domestic and global business community. Over a seven-month research period, it meets with more than 200 top political, commercial and industry leaders to deliver targeted information, in-depth analyses and strategic insights to the global business community on economic trends and investment opportunities.
Capital Analytics has a global readership and includes among its readers top executives working in real estate, finance, technology, trade and logistics, health, hospitality and others. Books are distributed locally, nationally and globally to trade and investment boards, executives of Fortune 500 companies, institutional investors, consulates and embassies, hedge funds, leading chambers and associations, as well as high-level summits and conferences.
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