Boca’s Economic Development Report

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By: Jessica Del Vecchio Boca Economic Development Manager Special to the Boca and Delray newspapers

Boca Raton Airport

With an economic impact of $165 million, over 3,000 employees and 70,000 flights annually, the Boca Raton Airport is an economic engine. Last month marked the one-year anniversary of the U.S. Customs facility. Within its first year of operation the facility cleared 1,418 aircraft, 6,559 passengers and 17 marine vessels carrying 44 passengers.

Boca Business Briefs

MSD Partners, a New York based investment firm affiliated with Michael Dell, has purchased the iconic Boca Raton Resort and Club. The transaction valued the 1,047-room hotel at $589.6 million.  In addition to the hotel, MSD spent $285.3 million to purchase the Premier Club. The private club reportedly has 3,600 members and accounts for 30 percent of the Resort’s revenue.

Our Office was lucky to participate in an incredible panel discussion at the impeccable sales gallery of the Mandarin Oriental. The topic of discussion revolved around the city’s influx of corporate relocation and expansion projects and the tax migration into South Florida from high tax states.

For its first academy in the state of Florida, Rafa Nadal Tennis Academy has officially partnered with Saint Andrew’s School. The Academy will offer its high-performance training program to juniors ranging from the ages of 7 to 18 years old for four separate, one-week camp sessions. The tennis camps will be held on campus from July 1-27.

Mizner Park is adding a few new eateries to join their existing tenant roster. Among the new tenants are a Mexican restaurant called Calaveras Cantina, a sushi and Japanese restaurant called Bluefish and Lost Weekend, a bar known for pool tables, beer and art.

Founded in 2006, MobileHelp has experienced considerable growth. With over 230 employees, and plans to hire 150 more, our Office welcomed the MobileHelp team to their new corporate headquarters.  Based in the Boca Raton Innovation Campus, the newly renovated space is approximately 50,000 sq. ft.

Good Better Boca

Boca Raton ranked 6th on Business Insider’s 25 Most Popular Cities for Vacation Homes list.