City of West Palm Beach, Mayor’s Office
- Economic Development
West Palm Beach Economic Development Strategy
In order to help attract more corporations and developers to West Palm Beach, RMA Director of Economic Development, Kevin Crowder, worked with the City of West Palm Beach Economic Development Director, Chris Roog, to develop its first Economic Development Strategy for the City. The purpose of the Economic Development Strategy is to examine data that illustrates where West Palm Beach is currently, determine how the City compares to its local competitors, and to develop a series of steps that will help the City achieve its goals of becoming a national and international business destination.
RMA’s Economic Development Strategy focuses on responsiveness and compatibility, regional cooperation, clustering, targeted area strategies and combine with an efficient and timely approval process for permits. It recognizes and adapts to market realities, and also should be compatible with neighborhood character and community values, so that all segments of the community can grow and succeed along with it.
A City Commission Workshop on April 7, 2014 presented the Economic Development Strategy report containing proposals to create jobs, grow the tax base and attract business to West Palm Beach. A key factor discovered during the research & analysis process was that a shortage of product in almost every category of real estate would be a sticking point for economic growth, as real estate is one of the main economic drivers.
The plan tells the City how to be strategic in terms of exactly where to add residential and commercial development. Recommendations stemming from the report include: target specific corridors in need of redevelopment for increased commercial development, utilize business incentives to attract retail, encourage residential multifamily development that marries retail and residential, and increase Class A office space.
RMA, as part of its role managing the Community Redevelopment Agency for the City of West Palm Beach, is assisting the City in executing the recommendations identified in the Economic Development Strategy.