Not-so-secret sauce attracts expansions, relocations to Palm Beach County

Not-so-secret sauce attracts expansions, relocations to Palm Beach County

2022-07-28T12:16:56-04:00July 28th, 2022|Economy, Palm Beach|

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Writer: Ryan Gandolfo

3 min read July 2022 The Sunshine State has been a magnet for corporate expansions and relocations, with Palm Beach County being one of the most attractive landing spots on the peninsula. 

The secret is in the sauce, which includes key ingredients like warm weather, beaches, a diverse talent pool and a favorable tax environment. In addition, organizations such as the Business Development Board of Palm Beach (BDB) and chambers of commerce up and down the coastal county play an integral role in attracting businesses to make the county their new home.

“There is lots of growth here with companies relocating and we are happy to see the interest. Many businesses want to relocate to South Florida and we want to ensure people take an interest in our area. We understand that this type of progress doesn’t take place in a vacuum. When a business comes here, they need employees, while others may bring them with them. We have almost 120 businesses that relocated here in the past year,” Chamber of Commerce of the Palm Beaches President and CEO Donald Burgess told Invest:.

Here are nine recent expansions and relocations into the county and their projected impact on the local economy.

Electric Power

Moving into the backyard of one of the country’s hottest real estate markets, Electric Power, a home energy storage, management and monitoring solutions company, opened a new headquarters in West Palm Beach at the start of spring this year. Its 7,500-square-foot facility is expected to bring 40 new employees onboard in West Palm Beach over the next few years. 

Essential Candy

Healthy candy manufacturer Essential Candy expanded its Palm Beach operations at the start of the year by opening a 2,900-square-foot facility in Wellington. The BDB said the facility would employ 12 people and grow its domestic and overseas footprint. Founded in 2018, Essential Candy makes all of its products organic, vegan, gluten-free, non-GMO, soy-free and low-carb and meets a growing demand for healthy hard candies. “We look forward to the coming year as we launch new products, increase national distribution and retailers and move into international marketplaces,” opens in a new windowsaid Essential Candy President Dean Ernst in a release on the BDB website.

MyBambu

MyBambu, a fintech platform largely serving the Hispanic market, opened a new 6,500-square-foot office in West Palm Beach that will create 82 new jobs. The move is also projected to create a capital investment of $405,000, according to the BDB. The company offers streamlined international money transfers to 18 countries in Latin America. “We are here to revolutionize the way immigrants do financial transactions. We want to promote financial inclusion to the unbanked and provide them with the most effective, safe, and convenient way to manage their funds,” opens in a new windowsaid MyBambu Chief Operating and Marketing Officer Val Infante.

National Dentex

The grand opening of National Dentex’s new corporate headquarters in Jupiter took place in May. The nearly 40,000-square-foot facility includes a modern dental lab, dental suite, education center and corporate offices and is expected to support over 100 employees on site. The site serves as the central hub for NDX, which has a 60-plus full-service dental lab network across the United States. “Our new Jupiter headquarters is a showcase facility that offers a collaborative and innovative environment for our employees and the dentists we serve,” opens in a new windowsaid NDX CEO Tom Daulton in a press release.

Percepto

Autonomous inspection and monitoring solution provider Percepto laid down roots in Riviera Beach, occupying an 11,000-square-foot building that will bring an estimated 100 high-wage jobs to the area. The company’s autonomous drones have been a force in improving the monitoring and inspection of industrial site infrastructure, including FPL’s substations and power distribution grids statewide. “Given our work with FPL and our drone-in-box systems that can withstand Category 5 hurricane conditions, it was ideal to open a Florida office to best serve customers,” said Percepto Vice President of Operations Yorai Shmueli.

Procaps Group

In May, the BDB opens in a new windowannounced that international healthcare and pharmaceutical company Procaps Group acquired Sofgen Pharmaceuticals and plans to add 200 jobs to the current team of 42. The 86,000-square-foot production facility at Riviera Beach is “strategically positioned to improve our supply chain efficiency and the cost of distribution for our products in terms of proximity to customers, especially for the NAFTA area, the largest pharmaceutical market worldwide,” according to Procaps Group Founder and CEO Ruben Minski. With a strong presence in Latin America and a sustainable model working with thousands of collaborators, Procaps Group expects to deliver a wider array of over-the-counter pharmaceutical products and prescription pharmaceutical drugs, among other products.

Renco USA

Palm Beach saw the arrival of manufacturing firm Renco USA in the spring of 2022, with a new 50,000-square-foot headquarters located in Jupiter. The structural building system composite manufacturing and distribution company’s office will create more than 100 new jobs. Renco USA delivers renewable composite products for structures across a range of industries.

RingSquared

Voice, data and analytics provider RingSquared announced a new office opening in Delray Beach in the spring of 2022. The office put the telecommunications service provider closer to its client base in Florida and one of its existing data centers. “With over 2,000 local customers already in the area, Florida is the natural next step in RingSquared’s growth,” opens in a new windowsaid RingSquared CEO Kevin Alward in a press release. “We look forward to expanding our business footprint and getting to know our new community.”

UOVO

In its second Palm Beach expansion in two years, art storage and logistics provider UOVO will opens in a new windowcreate 15 new jobs at a newly constructed 50,000-square-foot site in West Palm Beach. According to the BDB, the company is regarded as New York’s top collections storage company with a growing presence in Florida. “As our clients do business in South Florida, Palm Beach remains a vital market for UOVO. Our purpose-built, 50,000-square-foot art storage facility will be the first of its kind in the region. We look forward to continuing to deliver best-in-class collections storage and services to the Palm Beach community,” opens in a new windowsaid UOVO CEO John Auerbach.

For more information, visit:

opens in a new windowhttps://www.bdb.org/

opens in a new windowhttps://electriqpower.com/

opens in a new windowhttps://essentialcandy.com/

opens in a new windowhttps://mybambu.com/en/

opens in a new windowhttps://nationaldentex.com/

opens in a new windowhttps://percepto.co/

opens in a new windowhttps://www.procapsgroup.com/home

opens in a new windowhttps://www.renco.com.tr/

opens in a new windowhttps://www.ringsquared.com/.

opens in a new windowhttps://uovo.art/