New York Financiers Moving South Find Tax-Friendly Economy, Class-A Property and Luxury Living in Business-Ready Boca Raton
Written on January 29, 2013 at 10:54 am
As the developer and property owner of premier office space in southern Palm Beach County, Danburg Properties of Boca Raton has seen a trend emerging. As was highlighted in a recent article in The New York Post, financial firms are relocating to Florida – specifically Palm Beach County – to escape New York’s high state and city tax rates.
What these hedge fund, private equity and investment firm executives are finding in the Sunshine State are non-existent state and local income taxes – which save high-earning executives thousands in income taxes each year, as well as a welcoming economic climate, storm-ready facilities for when a hurricane strikes, and business-friendly civic leaders.
“…they’re being welcomed with open arms — officials in Palm Beach recently opened an entire office dedicated to luring finance hot shots down south,” the Post wrote.
This is nothing new to any number of corporations that have headquarters and operations based here. From ADT to Office Depot to NCCI and others, Boca Raton, Palm Beach County and Florida have long lured blue chip corporations seeking a combination of a tax-friendly state government – and an inviting climate for executives and employees alike. As the Post pointed out – and many transplanted Northeasterners know – it can be below freezing and snowing up north, and in the 70s and sunny in Palm Beach County.
For those seeking the luxury lifestyle, estate homes range from waterfront properties on the Intracoastal or Atlantic, to premier residences on large properties farther inland. Boca Raton also recently approved a course of planned mobility development for its Northwest Sector. Once completed, this will provide luxury, garden apartments for high-wage earning employees for the area’s growing employer base.
Business executives also are also finding storm-resistant facilities uniquely suited to the South Florida business and environmental marketplace. For example, Danburg Properties of Boca Raton’s Peninsula Corporate Center, located at 950 Peninsula Corporate Circle in Boca Raton, features award-winning tilt-wall construction and impact glass throughout. The building generator provides full electrical service, including HVAC in the event of a power outage lasting a week or more.
Security features include roving, after-hours and weekend patrols, after-hours card access, and security cameras. This Class-A building is built storm-ready – and business ready, with spaces ranging from 354 to 5,000 square feet. It also includes a spectacular fountain courtyard amid tropical landscaping.
Located seconds from the I-95 / Congress Avenue interchange, it’s just south of the Boca Raton / Delray Beach line, and minutes from Palm Beach and Fort Lauderdale.
For leasing information, contact Charlie Exelbirt at 561-997-5777, ext. 61. For up to the minute availabilities, pictures and floor plans visit www.danburg.com or the Peninsula property page at www.danburg.com/properties/peninsula-corporate-center.
To scores of businesses that already have relocated to Boca Raton and Palm Beach County from New York, New Jersey and elsewhere in the Northeast, this region offers countless amenities ideally suited to high-wage executives and their companies. And that’s an investment you can bank on.