As we usher in 2020, I would like to take this opportunity to highlight the many positive things happening in Palm Beach County.
Did you know that Palm Beach County boasts the third largest population in the state with over 1.4 million residents? More than 20,000 new residents are calling our county home every year. Property values and home sales are up, and unemployment is down.
The national unemployment rate remains at a 50-year low, and the news in Palm Beach County is equally positive with unemployment now at 3.7 percent (down from the same time last year's already low 3.8 percent). The good news for job seekers is there are more job openings countywide than candidates to fill them!
Tourism remains one of our county’s most important industries with an economic impact of $7.5 billion; creating 94,000 jobs and generating over $54 million in bed-tax revenue. Visitors are booking hotel rooms at record levels. Additionally, agriculture, biotechnology and transportation continue to drive our economic engine.
Over the past 12 months, 34 companies have relocated or expanded in Palm Beach County creating over 2,700 new jobs while occupying over a million square feet of office/commercial space generating over $12 million in capital investment.
Wages in Palm Beach County continued to grow at a rate of 3.1 percent, eclipsing the national wage growth of 2.8 percent. Our county ranks fourth in the state in per capita income at $74,754 compared to the statewide average of $47,600.
In District 4, Boca Raton remains one of our county’s top growth areas receiving over $642,000 in incentives from the county for corporate expansions (creating over 1,000 jobs with salaries ranging from $50,000 to $75,000). These businesses include ORBCOMM, MobileHelp and Modernizing Medicine. They have also received state and city incentives totaling over $5 million.
I am pleased to report the BCC maintained the current tax rate (millage) which has not increased in nine years. Saving you money while providing superior services remains a priority for us.
Working on the county’s $5.2 billion budget is a considerable responsibility. This significant budget reflects the enormity of the county’s operations that include solid waste disposal, public transportation, operation of three airports (including PBIA), water treatment plants, 3,500 miles of roads, 214 bridges, 8,000 acres of parks and much more.
Keeping our roads and bridges in good repair and filling potholes are also top priorities. The county successfully completed major repairs on the Camino Real Bridge this past year (after several bumps in the road). Among the hundreds of road miles resurfaced in 2019 included Jog Road, Clint Moore Road, Palmetto Circle and Powerline Road. Expect to see road crews in South County throughout 2020 working on Old Dixie Highway and Yamato Road, thanks to the voter-approved sales surtax.
No annual recap would be complete without mentioning Hurricane Dorian. With a Category 5 storm taking aim at us, we were extremely lucky for the last minute change in its path, and a major disruption in our lives was avoided. However, be confident the county was ready! The Emergency Operations Center was fully activated, and your county commissioners worked with emergency officials as we collaborated with local, state and federal agencies to disseminate critical information to our residents in a timely fashion.
Everyone should be extremely proud of the outpouring of support for our neighbors in the Bahamas who sustained catastrophic damage with a direct hit. The outpouring of resources countywide was incredible and kudos to all who responded. While we dodged a bullet as the storm path shifted north, I cannot stress enough the importance of preparedness and urge everyone to take future storms very seriously! It can make the difference between life and death.
