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Business
Community |
Contact Information:
Michael Woika
Assistant City Manager
Phone: (561) 393-7703
Email: mwoika@myboca.us
201 W. Palmetto Park Road
Boca Raton, FL 33432 (Map)
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Greater Boca Raton Chamber of Commerce
The mission of the Greater Boca Raton Chamber of Commerce is to provide leadership, networking, innovative business programs and community opportunities, enabling its membership to thrive in a dynamic pro-business environment, while fostering an unmatched quality of life.
Number of City Businesses
Business Licenses issued by City: 8150
Hotels: 21
Hotel rooms: 3423
Restaurants: 361
Vacant Commercial/Industrial Property: 220 acres
2002 (Published in 2005) Boca Raton Business by Type
Business By Type |
No. |
% |
Manufacturing |
|
162 |
3.30% |
Wholesale Trade |
|
517 |
10.50% |
Retail Trade |
|
660 |
13.40% |
Information |
|
172 |
3.50% |
Real Estate |
|
384 |
7.80% |
Professional, Scientific and Technical Services |
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1,255 |
25.50% |
Legal Services |
363 |
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Accounting |
150 |
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Architectural, Engineering, Design, Etc |
213 |
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Computer, Business, and Technical |
404 |
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All other |
125 |
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Administrative and Support and Remediation |
|
383 |
7.80% |
Educational Services |
|
40 |
0.80% |
Healthcare and Social Assistance |
|
597 |
12.10% |
Arts, Entertainment and Recreation |
|
87 |
1.80% |
Accommodation and Food Services |
|
291 |
5.90% |
Other Services |
|
382 |
7.70% |
Total |
4,930 |
100.00% |
Business by Type:
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The percentage of businesses by type by the number of businesses:
Industry |
United States |
Florida |
Palm Beach County |
1998 |
2002 |
2006 |
1998 |
2002 |
2006 |
1998 |
2002 |
2006 |
Forestry, Fishing, Agriculture |
0.4% |
0.4% |
0.3% |
0.3% |
0.3% |
0.2% |
0.2% |
0.2% |
0.2% |
Mining |
0.4% |
0.3% |
0.3% |
0.1% |
0.1% |
0.1% |
0.0% |
0.0% |
0.0% |
Utilities |
0.2% |
0.3% |
0.2% |
0.1% |
0.2% |
0.1% |
0.1% |
0.1% |
0.1% |
Construction |
10.0% |
9.9% |
10.6% |
9.1% |
9.2% |
11.6% |
9.4% |
9.2% |
10.1% |
Manufacturing |
5.3% |
4.8% |
4.4% |
3.8% |
3.3% |
2.7% |
2.9% |
2.7% |
2.3% |
Wholesale Trade |
6.5% |
6.1% |
5.7% |
7.4% |
6.8% |
6.1% |
6.2% |
5.9% |
5.6% |
Retail Trade |
16.0% |
15.6% |
14.7% |
15.8% |
15.7% |
14.1% |
14.1% |
14.0% |
12.7% |
Transportation and
Warehousing |
2.7% |
2.7% |
2.8% |
2.5% |
2.5% |
2.6% |
1.7% |
1.8% |
1.9% |
Information |
1.7% |
1.9% |
1.9% |
1.5% |
1.7% |
1.7% |
1.5% |
1.6% |
1.7% |
Finance and Insurance |
5.9% |
6.3% |
6.5% |
6.4% |
6.4% |
6.7% |
7.0% |
7.5% |
7.7% |
Real Estate |
4.2% |
4.5% |
5.0% |
5.0% |
5.6% |
6.8% |
5.0% |
5.4% |
6.6% |
Professional, Scientific and Technical |
9.9% |
10.7% |
11.1% |
11.3% |
12.6% |
13.2% |
13.4% |
15.2% |
15.9% |
Management |
0.6% |
0.7% |
0.6% |
0.5% |
0.6% |
0.5% |
0.6% |
0.6% |
0.5% |
Administration, Support, and Remediation |
5.1% |
4.8% |
5.0% |
6.6% |
6.0% |
6.2% |
7.8% |
6.8% |
7.0% |
Educational Services |
0.9% |
1.0% |
1.1% |
0.9% |
1.0% |
1.0% |
1.0% |
1.0% |
1.1% |
Healthcare and Social Assistance |
9.4% |
9.8% |
10.0% |
9.6% |
9.8% |
9.6% |
10.4% |
10.6% |
10.6% |
Arts, Entertainment, and Recreation |
1.5% |
1.5% |
1.6% |
1.4% |
1.4% |
1.5% |
1.6% |
1.7% |
1.8% |
Accommodation and Food Services |
7.8% |
7.8% |
8.1% |
6.8% |
6.7% |
6.5% |
6.0% |
5.9% |
5.7% |
Other Services |
11.4% |
11.0% |
10.0% |
11.1% |
10.2% |
8.8% |
11.0% |
9.8% |
8.5% |
Total Number of Businesses |
Year |
United States |
Florida |
Palm Beach |
1998 |
6,941,822 |
420,638 |
35,287 |
2002 |
7,200,770 |
450,188 |
38,778 |
2006 |
7,601,160 |
517,069 |
43,645 |
Number of Business Licenses Issued by the City of Boca Raton
*The reduction in the number of licenses issued between 2005 and 2006 was largely due to a determination that stock brokers employed by a brokerage firm that is already licensed did not need a separate business license.
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South Florida Market - Office (3rd Qtr. 2008)
Market |
# Bldgs |
Rentable Area |
Vacancy Rate |
Asking Lease Rate |
Boca Raton |
107 |
11,169,630 |
21.3% |
$ 19.02 |
Delray Beach |
19 |
900,339 |
17.6% |
$ 14.84 |
North Palm Beach |
45 |
2,805,174 |
13.1% |
$ 20.90 |
West Palm Beach |
63 |
5,631,799 |
20.0% |
$ 22.43 |
Deerfield Beach |
15 |
866,601 |
13.8% |
$ 15.59 |
Ft. Lauderdale |
138 |
12,726,374 |
12.3% |
$ 18.02 |
Total Broward County |
303 |
24,916,602 |
12.1% |
$ 18.13 |
Total Palm Beach County |
275 |
22,609,005 |
19.6% |
$ 19.71 |
South Florida Market - Industrial (3rd Qtr. 2008)
Market |
# Bldgs |
Rentable Area |
Vacancy Rate |
Asking Lease Rate |
Boca Raton |
232 |
8,793,841 |
4.2% |
$ 10.65 |
Delray Beach |
103 |
3,499,829 |
11.2% |
$ 8.68 |
Boynton Beach/Lantana |
143 |
5,668,677 |
9.7% |
$ 7.52 |
West Palm Beach |
603 |
19,082,701 |
7.7% |
$ 7.92 |
Northeast Broward |
710 |
20,968,451 |
5.8% |
$ 8.24 |
Coral Springs |
186 |
6,786,575 |
6.9% |
$ 10.74 |
Total Broward County |
3,424 |
130,917,035 |
6.1% |
$ 8.74 |
Total Palm Beach County |
1,638 |
55,879,803 |
8.4% |
$ 8.07 |
South Florida Market - Retail
Market |
Retail Sq. Ft. |
Boca Raton |
5,541,315 |
West Palm Beach |
4,503,046 |
Delray Beach |
2,733,489 |
Boynton Beach |
3,696,514 |
Total Broward County |
37, 692,330 |
Total Palm Beach County |
30,398,430 |
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Tax Climate Index - The Tax Foundation annually creates a State Business Tax Climate Index, which rates states by their business tax environment. In the 2009 index, the states with the most favorable business tax environment:
- Wyoming
- South Dakota
- Nevada
- Alaska
- Florida
The State Business Tax Climate Index is an developed by evaluating a number of tax categories. In 2009, Florida’s rank in each of the categories:
- Corporate Tax Index Rank 13
- Individual Income Tax Index Rank 1 (tied)
- Sales Tax Index Rank 21
- Unemployment Insurance Tax Index Rate 3
- Property Tax Index Rate 19
Property Taxes on Owner-Occupied Housing (2007 data)
Florida Median Property Taxes Paid on Homes $1,851
Ranking in U.S. 20th lowest
State-Local Tax Burden Rate (2008 data)
Florida Median Home Value $230,400
Taxes as percent of Home Value 0.80%
Ranking in U.S. 26th lowest
Total State and Local Per Capita Taxes Paid $3,441
Per Capita Income $46,293
State-Local Tax Burden Rate (2008 data) 7.4%
Ranking in U.S. 47th lowest
Quarterly Palm Beach and Florida Workforce Indicators
Most Recent Florida QWI Report (3rd Quarter 2007)
QWI Quick Facts |
Palm Beach
(Q3) |
Palm Beach (Avg:Selected + 3 Prior qtrs) |
Florida
(Q3) |
Florida (Avg:Selected + 3 Prior qtrs) |
Total Employment |
511,776 |
531,793 |
7,580,220 |
7,783,582 |
Net Job Flows |
(11,944) |
(623) |
(109,950) |
(24,965) |
Job Creation |
28,172 |
35,359 |
422,769 |
477,069 |
New Hires |
91,524 |
102,131 |
1,398,856 |
1,466,895 |
Separations |
120,920 |
121,839 |
1,761,324 |
1,765,598 |
Turnover |
12.20% |
12.60% |
12.80% |
12.90% |
Avg Monthly Earnings |
$4,124.00 |
$3,970.50 |
$3,343.00 |
$3,442.75 |
Avg New Hire Earnings |
$2,313.00 |
$2,541.00 |
$2,165.00 |
$2,180.75 |
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Unemployment Rates from October 2007 to October 2008, seasonally adjusted
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Rate |
Over-the-year
rate change |
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October 2007 |
October 2008 (p) |
| Florida |
4.3 |
7.0 |
2.7 |
p = preliminary
Unemployment Rates
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