Boca’s economic development report

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

Boca. Business. Brief.

Although the impact of COVID-19 on the office market will take time to reflect, Boca Raton had the largest lease transaction in the County last quarter. Boca was also the leader in Q2 lease activity overall, with four of the seven lease transactions, totaling 58,373 square feet, taking place in our beautiful city.

19 of Inc. Magazine’s 5,000 fastest-growing privately held companies in the country are based in Boca Raton. Not only are there 19 companies on the list, 3 are in the top 100. For the full list, please visit www.inc.com.

Big partnership news came out ADT this month. Cementing a mutual, long term partnership, Google is set to invest $450MM to acquire 6.6% ownership in ADT. ADT said that the two companies will work on ways to package popular Google products like Home Mini, Nest Thermostat and Nest Wifi. The companies will each commit an additional $150MM for co-marketing, product development, technology and employee training.

Misfits Gaming Group recently relocated its corporate headquarters to Boca Raton. This month, they announced the expansion of its strategic partnerships with Florida-based NBA teams the Miami HEAT and the Orlando Magic.

There’s nothing better than seeing two Boca based businesses work together to bring their innovative ideas to life. GardaWorld, a leading cash management service provider and part of the world’s largest privately owned security services company, and GRUBBRR, a leading technology company delivering ordering and fulfillment solutions through its self-ordering kiosk, have partnered to provide restaurants, retailers and other businesses in the United States and Canada with GRUBBRR CashMatic Technology.

Infinity Sales Group (ISG) was recently featured on WPTV News. To keep up with the spike in demand for high-speed internet options during stay-at-home orders, ISG has hired more than 150 employees in the midst of the pandemic.

Health Advocates Network Holdings Corp. recently announced its capital raise of over $7MM, completing its oversubscribed first equity round.

R2 Unified Technologies continues to grow as it increases its presence throughout the state. R2 recently announced the hiring of technology partner Lenny Chesal. Mr. Chesal joined the organization to expand the sales capabilities and to support R2’ s ag-gressive expansion activities across Florida.

We miss the days when we could broadcast on-site from Multi Image Group (MIG) studios – but this innovative team has successfully pivoted their business model to include MigStream for virtual hosting of product launches, workshops and corporate events.

Has your company pivoted product lines? Entered new markets? Let us know, we would love to hear, and share it.

Have corporate news to share or looking to relocate/expand your company to Boca Raton? Con-tact the city’s economic development office at economicdevelopment@myboca.us or 561-393-7761. Want to see what we are up to? Follow us on Facebook @BocaEconomicDevelopment.