Palm Beach Relocation Guide

SPR-SUM 2016

The Palm Beach Relocation Guide is Palm Beach County's most respected relocation publication and is a MUST for anyone considering visiting, moving to, living in, or just wants to learn more about the Palm Beaches.

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Page 20 of 203

P A L M B E A C H R E L O C A T I O N G U I D E . C O M 19 These areas include aerospace, life sciences and health sciences, a technology compo- nent in clean tech, IT/telecommunications, a business and trade component in financial and equity services, manufacturing, distri- bution and logistics, and the equestrian industry which is one of the county's most distinctive economic sectors. As a seaside county, bordered on the west by the second largest freshwater lake in the lower 48 states, Palm Beach County also has an important marine industry. The diversity of these industries is directly supported by the highly diverse and skilled talent pool, drawn to the county by excep- tional prospects. With no state income tax and low sales and property taxes, Florid- ians have among the highest incomes in the United States. The U.S. Census Bureau reports a median household income of $52,432. The county added an average of nearly 1,100 jobs per month in 2015, reflecting strong economic growth. Palm Beach County offers many advan- tages to workers and employers alike, with an excellent infrastructure, the cultural advantages of a much larger urban area, and abundant outdoor activities, the quality of life allows people a huge range of choices for both living and working. Employers have many options for choosing locations, from urban centers to agricultural acres, and everything in between. DIVERSE WORKFORCE Palm Beach County is Florida's third most populous, with nearly 1.4 million people and a growth rate projected by the state to be 6.3 percent between 2015 and 2020. Although the perception outside the state is that Flor- ida's residents are primarily retired and elderly, the median age in the Palm Beaches is 44. Workers in Palm Beach county have an above average high school graduation rate of 87.7 percent, and 33 percent have a bachelor's degree or higher. Those holding college degrees remain in high demand across the county, making it an attractive option for both young graduates and more experienced mid-career and exec- utive personnel. Palm Beach County also offers a significant Spanish-speaking population of nearly 12 percent, a tremendous advantage for busi- nesses in international trade, or seeking to enter Cuba as the marketplace there opens during the next decade. MAJOR INDUSTRIES The Palm Beach Business Development Board has identified thirteen industry clusters, whose grouping of interrelated Palm Beach County has the most intriguing diversity of major industries anywhere in the United States. Along with the industries that originally built the Palm Beaches, agribusiness and leisure, are a strong science-based component. BUSINESS and economy

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