Boca’s Economic Development Report

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By: Jessica Del Vecchio, Boca’s Economic Development Manager
Special to the Boca and Delray newspapers
Microsoft
Mayor Susan Haynie, Commissioner Steve Abrams and Boca’s City Council Members were on hand to welcome Microsoft to the Town Center at Boca Raton. This is the 106th Microsoft location in the U.S. and the third in South Florida. In true community fashion, the Microsoft team donated $900,000 in technology grants to our local non-profits, The Museum of Discovery and Science, The Boca Raton Museum of Art, The Florence Fuller Child Development Center and The Boys & Girls Clubs of Palm Beach County.
Colliers International
Commercial real estate giant, Colliers International recently opened an office in Boca Raton. Headquartered in Seattle, with annual revenue of nearly $2 billion this expansion into our market reflects the influx of commercial activity we’re seeing in our region. When we asked Colliers Executive Managing Director, Kenneth Krasnow what factored into their recent expansion, he said “We’re seeing domestic and international capital chasing deals from Miami-Dade to Palm Beach counties. As part of Colliers regional expansion strategy, we felt it was necessary to open an office in Boca to expand coverage in Southern Palm Beach County, which is a very different market than West Palm Beach. By opening a Boca Raton office, we will be in a better position to serve our clients by building a collaborative and collegial team with the depth and experience of every neighborhood in each market.”
In addition to representing both the buyer and seller on two local sales totaling $38.5 million, Colliers also sold a 41,362 square foot freestanding industrial building located in Boca Raton’s South Congress Industrial Park for $3.7 million.
Allianz Championship Tour Event
The 11th annual Allianz Championship PGA Tour event will be played at the Old Course at Broken Sound Country Club Feb. 6 – 12. This year the PGA Champions Tour welcomes a few big name rookies to the field, John Daly, David Toms, Steve Stricker, Miguel Angel Jimenez and Jean van de Velde.
This great local event drew 45,000 attendees last year. The tournament is televised on the Golf Channel, has 17.5 hours of coverage through seven telecasts and has a reach of 3.8 million viewers. Not only does this event provide the City of Boca Raton international exposure on the Golf Channel, an independent economic impact study was conducted by Lynn University’s Dean of Economics in 2010 and reported a $10 to $12 million economic impact for our area.
We asked the Tournament Director, Ryan Dillon what made Boca Raton the ideal city to host this event and he told us “The relationship between the City of Boca Raton and the Allianz Championship is one of a kind.  From day one, the support from the mayor, city manager, city council and city residents has been special. They saw the big picture benefits from the start and have been amazing partners ever since. We would not be here today if not for the support of the City of Boca Raton and its residents all joining together to support a beloved institution in our community, the Boca Raton Regional Hospital.”
Tickets are on sale now and can be purchased at: www.allianzchampionship.com
Have corporate news to share or looking to relocate/expand your company to Boca Raton? Contact the city’s economic development office at economicdevelopment@myboca.us or 561-393-7761.