Located on the Atlantic coast, Boca Raton, Florida, is 21 miles north of Fort Lauderdale, 27 miles south of West Palm Beach, and 50 miles north of Miami. With five miles of beaches, famous golf courses, 45+ parks, and winter temperatures in the 70s and 80s, the city is ideal for families and outdoor enthusiasts vacationing or looking for a second home. However, Boca is not just for fun. The Boca Raton Tribune recently reported that “the city is shedding its old reputation (as a retirement community) and becoming a hub for young professionals.”
What attracts employers and employees to the region?
While many states shut down during the pandemic, Florida remained open for business, becoming an attractive relocation destination for company owners in high-tax states—like New Jersey and New York—and remote workers who could move to a warmer state without changing jobs. Business leaders like ADT, American Residential Warranty, and Office Depot have located their corporate headquarters in Boca Raton for several reasons.
- Quality of life: Boca Raton is known for its high quality of life, top-rated schools, safe neighborhoods, and a strong sense of community, making it an attractive location for employees and their families. Known as a highly sought retirement-friendly area, developers are building new apartment complexes and condominiums with amenities—coworking spaces, rooftop pools, and fitness centers—designed to create an environment that attracts young professionals.
- Business-friendly environment: Boca Raton has a business-friendly environment with a pro-business culture, a favorable tax environment, and streamlined government regulations. In fact, the city has been recognized as one of Florida’s best places to do business. The Office of Economic Development and Innovation supports the corporate community and facilitates development programs to create and maintain economic stability.
- Skilled workforce: Many young people come to the region to attend the 17+ colleges and research institutions and stay once they land a job with one of the many organizations that call Boca Raton home. This provides area businesses with educated and skilled workers, making finding and hiring qualified talent less challenging.
- Growing job market: From 2017 to 2022, regional employment grew by 0 percent compared to the 2.4 percent national growth rate, and in the past 10 years, job growth has increased by 20.1 percent.
What are the largest industries in the region?
While Boca is known for its tourism and hospitality sector, several other industries contribute to the local economy—including healthcare, finance, technology, and hospitality—allowing businesses in various sectors to thrive. According to Lightcast market analytics, the following are the largest industries in the region.
- Professional, scientific, and technical services: Boca Raton is home to a thriving business community and a diverse range of professional, scientific, and technical services, including:
- accounting, bookkeeping, and payroll services
- advertising services
- architectural, engineering, and specialized design services
- computer services
- consulting services
- legal advice and representation
- photographic services
- research services
- translation and interpretation services
- veterinary services
These professionals require a high degree of expertise and training and provide these services to clients in various industries and, in some cases, households.
- Healthcare and social assistance: Boca has a robust healthcare industry, with several large hospitals and medical centers in the area, including Boca Raton Regional Hospital—the largest hospital in the city—along with many clinics, physician offices, and other healthcare facilities. This sector comprises organizations providing health care and social assistance to people, including medical care only, both health care and social assistance, and those providing only social assistance. Occupations include home health aides, licensed practical and vocational nurses, medical and health services managers, and social workers.
- Retail trade: Boca has a bustling retail industry, with many shopping centers and malls in the area, including the Town Center at Boca Raton, one of the largest malls in Florida. This sector comprises store retailers in prime locations to attract a high volume of walk-in customers. These stores display merchandise, use mass-media advertising to attract customers, and sometimes provide repair and installation services. Boca has it all, from national department stores—Bloomingdales and Saks Fifth Avenue—to boutiques and specialty shops. Nonstore retailers—like Bright Mountain Media—are also part of this sector and use infomercials, broadcasting, publishing of direct-response advertising, catalogs, door-to-door solicitation, and vending machines to reach their customers.
- Administrative and support and waste management and remediation services: Boca has a diverse range of businesses, and many of them require administrative and support services, as well as waste management and remediation, including:
- cleaning
- collection
- document preparation and similar clerical services
- hiring and placing of personnel
- office administration
- security and surveillance services
- solicitation
- waste disposal services
The Bureau of Labor Statistics states this sector “comprises establishments performing routine support activities for the day-to-day operations of other organizations. These essential activities are often undertaken in-house by establishments in many sectors of the economy. The establishments in this sector specialize in one or more of these support activities and provide these services to clients in a variety of industries and, in some cases, to households.”
- Accommodation and food services: Boca Raton is a popular tourist destination with various luxury and budget-friendly hotels and resorts offering accommodation and food services jobs, including fast food and restaurant cooks, waiters and waitresses, hotel, motel, and resort desk clerks. Because the two activities are frequently performed at the same establishment, this sector combines lodging and preparing meals, snacks, and beverages for immediate consumption.
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This blog was authored by Acara Account Executive Gabrielle Sirianni