Palm Beach County Business | The Tech Issue

A WAVE OF NEW TECH CHOOSES THE PALM BEACHES

PALM BEACH COUNTY BUSINESS | ADVANCED TECH ISSUE

Letter from the CEO

A Magnet for Advanced Tech Page 2

Business Intelligence Report Summary

Economic Snapshot Page 5

Career Event Spotlight

Explore the Palm Beaches Career Event Page 6

Leader Profiles

The Palm Beaches: A Strategic Location for Global Innovators Page 10

Quantum

The Palm Beaches: Leads Florida’s Quantum Race Page 15

News & Events

Ampera: Nuclear Energy for a Growing Economy Page 16

A Magnet for Advanced Tech

From Kelly Smallridge, President and CEO Business Development Board of Palm Beach County

For more than a decade, the Palm Beaches have been a launchpad for transformative technology—from the birthplace of the IBM PC to the rise of ModMed to the recent announcement of ServiceNow’s HQ2. Today, that legacy fuels breakthroughs across tech, fintech, agribusiness, life sciences, and healthcare, reshaping how we live and work.

This innovation-driven ecosystem has attracted millions in investment, generated thousands of high-skilled, high-wage jobs, and firmly established the region as a powerhouse for advanced technology.

As highlighted in this issue of Quarterly, Q1 2026 brought continued momentum, with companies—particularly in drone manufacturing and data science—choosing to relocate to or expand within the Palm Beaches.

The region is also accelerating its leadership in quantum technology through dynamic public-private collaboration. Florida Atlantic University’s $20 million investment in a D-Wave quantum computer and Palm Beach State College’s new Quantum Center are anchoring a rapidly emerging quantum hub, preparing students and the workforce for next-generation careers.

Globally recognized as “Wall Street South,” the Palm Beaches are drawing an influx of capital, talent, and innovation—creating powerful opportunities for businesses, a growing workforce, and residents alike.

The Business Development Board of the Palm Beaches, together with key partners such as the County Commission, CareerSource Palm Beach County, the Economic Council, local chambers of commerce, Discover The Palm Beaches, FloridaCommerce, and SelectFlorida, is helping propel this momentum—ensuring the region continues to stand out as a leading destination for advanced technology.

THE PALM BEACH COUNTY BOARD OF COUNTY COMMISSIONERS (BCC) adopts ordinances to establish policies and programs aimed at protecting the health, safety and general welfare of residents. The BCC works to resolve major problems facing local government and guides growth and development. In addition to efforts provided by the Department of Housing and Economic Development, the county works closely with local boards and committees to create job growth incentives and strengthen economic development.

Business Development Board of the Palm Beaches 310 Evernia Street West Palm Beach, FL 33401 561.835.1008 | bdb.org

Kelly Smallridge President & CEO 561.835.1008 Ext. 4121 ksmallridge@bdb.org

Kristen Bardin Vice President – Private Investment 561.835.1008 Ext. 4110 kbardin@bdb.org

Tim Dougher Vice President – Business Recruitment, Retention and Expansion 561.835.1008 Ext. 4131 tdougher@bdb.org

Kristen Liberman

Vice President – Marketing & Media Relations 561.835.1008 Ext. 4106 kliberman@bdb.org

Shawn Rowan Vice President – Business Recruitment, Retention and Expansion 561.835.1008 Ext. 4108 srowan@bdb.org

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Palm Beach County Business Quarterly is published by Passport Publications & Media Corporation, on behalf of the Business Development Board of Palm Beach County, Inc. All rights reserved. No part of this publication may be reproduced without the expressed written consent of the Business Development Board of Palm Beach County, and the publisher. © 2026 Passport Publications & Media Corporation

Welcome to the Complete Side of Care.

Wherever you are in Palm Beach County, Baptist Health is here for you, providing the compassionate, quality care you deserve, right when you need it.

Across South Florida, our complete network includes: 12 hospitals

Renowned institutes for cancer, heart, brain and spine, and orthopedic care

200+ physician practices and outpatient centers

Over 4,500 physicians and 29,000 employees

At Baptist Health, caring for you is at the heart of all we do.

NEW QUARTERLY INTELLIGENCE

REPORT PROVIDES ECONOMIC SNAPSHOT

The Business Development Board of the Palm Beaches is proud to introduce its inaugural quarterly Economic Development Intelligence Report. Designed to serve as a trusted, go-to resource, this report provides the broader community with timely economic data, key statistics, and demographic insights across Palm Beach County. Our goal is to deliver clear, data-driven insights to support informed decision-making and regional growth.

Here’s a snapshot

“EXPLORE THE PALM BEACHES” BUILDS COUNTY’S FUTURE WORKFORCE

SPONSORED BY THE GEORGE ELMORE ENDOWED FUND

For more than a decade, the Explore the Palm Beaches career event has connected students with leading local employers and research institutions to encourage the next generation of talent to pursue careers in Palm Beach County.

The event is a partnership between the Business Development Board of the Palm Beaches, the School District of Palm Beach County and CareerSource Palm Beach County. Hosted at Keiser University and supported by sponsor the George Elmore Endowed Fund, this year’s event:

l Welcomed one bus of students from each public high school in Palm Beach County and several private schools—bringing together young talent from every corner of the county, including the Glades region, with opening remarks by School District of Palm Beach County Superintendent Mike Burke.

l Introduced students to top employers, research institutions and industry leaders, whose career opportunities, interests and skills can translate into future professions.

l Offered interactive exhibits and kiosks, educational sessions on AI in the Workplace by Florida Atlantic University and a motivational keynote on professional developments, soft skills, communication and leadership.

As students and executives learned, the Palm Beaches has the future-focused talent and jobs to drive opportunities well into the future.

Named among U.S. News & World Report’s Best Colleges, event host Keiser University provides vital instruction in critical careers driving the county’s growth. Students benefit from the philosophy of combining hands-on practical collaborative learning to their academic experience. At Keiser University, students come first.

CAREER EVENT SPOTLIGHT

THANK YOU FOR YOUR SERVICE

For two decades, Eugene E. Spann, Jr., has delivered vital career counseling and soft skills presentations designed to prepare job seekers and students today for tomorrow’s opportunities. As Senior Young Adult Trainer for CareerSource Palm Beach County, he has inspired more than 10,000 students through his soft skills presentation at “Explore the Palm Beaches” for over a decade.

THANK YOU TO OUR SPONSOR

George Thomas Elmore literally helped build the community since founding pavement company Hardrives in 1953. Today, the George Elmore Endowed Fund, as part of the Community Foundation for Palm Beach and Martin Counties, along with other funds and initiatives, supports dozens of nonprofits that align with his longstanding commitment to community impact.

Alan B. Miller Medical Center

Bank of America

Boys & Girls Clubs of Palm Beach County

Business Development Board of the Palm Beaches

CareerSource Palm Beach County

City of Palm Beach Gardens

Cleveland Clinic

Cox Science Center and Aquarium

Discover The Palm Beaches

Dycom Industries

Everglades Equipment Group

FINFROCK

Florida Atlantic University

Florida Crystals

Florida Power & Light Company

Greenberg Traurig

Hedrick Brothers

Herbert Wertheim UF Scripps Institute for Biomedical Innovation & Technology

Hilton West Palm Beach

Jewish Federation of Palm Beach County

Keiser University

KeyStaff

Langan

Marine Industries Association of Palm Beach County

Max Planck Florida Institute for Neuroscience

Modernizing Medicine

Palm Beach Atlantic University

Palm Beach County

Path to College

Port of Palm Beach

Seacoast Bank

Skanska

TD Bank

Tropical Shipping

U.S. Army

U.S. Navy

UES

At Florida Atlantic University, innovation drives solutions for healthier, safer, and more prosperous communities.

As an R1 institution, FAU leads in Neuroscience & Healthy Aging, Quantum Computing, Ocean & Coastal Innovation, and National Defense & Autonomous Systems.

And it doesn’t stop at discovery — Florida Atlantic is building a powerful commercialization ecosystem, turning breakthroughs into startups, technologies, and real-world solutions.

RECENT GROWTH IN THE PALM BEACHES : A STRATEGIC LOCATION FOR GLOBAL INNOVATORS

Business is booming in the Palm Beaches – here are companies that have grown since Q1 of 2026. As your official economic development partner, the Business Development Board of the Palm Beaches will continue to report to key developments into the region.

D-Wave Quantum Inc.:

The quantum computing pioneer is changing the region’s tech ecosystem. Its relocation from Palo Alto, California, to Boca Raton Innovation Campus (BriC) and its installation of the Advantage2 annealing quantum computer at Florida Atlantic University will strengthen Florida’s quantum ecosystem. This move represents a major win for the region’s tech ecosystem, establishing a major U.S. R&D facility to support its annealing quantum system road map and bringing advanced computing capabilities and high-skilled talent into South Florida.

Ondas Inc.:

A cutting-edge defense drone and advanced aero-engine technology firm, Ondas’ relocation of its headquarters from Boston to West Palm Beach signals a strategic shift toward South Florida’s growing aerospace and defense ecosystem. Ondas plans to expand R&D and capitalize on regional talent and infrastructure. The autonomous aerial and ground robot intelligence developed through its Ondas Autonomous Systems (OAS) business unit, and the private wireless solutions through Ondas Networks, are part of a fully integrated global operating platform. The move to West Palm Beach strengthens Ondas’ access to senior talent, strategic partners and institutional capital. The company also benefits from Florida’s businessfriendly regulatory environment, expanding defense and technology ecosystem, and strong international connectivity, Eric Brock, Chairman and CEO of Ondas, said in a statement.

CORPORATE MOVES

Powerus:

An emerging leader in autonomous drone and intelligent systems technology for military and commercial use in high-risk environments, the West Palm Beach-based company has announced its merger with Aureus Greenway Holdings, a Kissimmee-based owner and operator of Florida golf course properties that is backed by the sons of President Donald Trump. Under the name Powerus Corporation, the combined entity is expected to accelerate innovation in next-generation unmanned aerial and ground systems for commercial and defense-related applications. Auerus’s properties could serve as demonstration grounds for Powerus’ precision agriculture drone systems.

Charles Schwab:

Building on Palm Beach County’s Wall Street South brand, the national brokerage and wealth management firm has expanded its Florida footprint with new branches in Delray Beach and Palm Beach Gardens. As part of five new retail branches in Florida, the expansion enhances Schwab’s accessibility to high-net-worth clients and reflects continued growth in South Florida’s financial services sector. The branch expansion comes as Schwab continues to experience record client growth with 2.3 million new brokerage accounts and $218 billion in new assets across the firm in the first half of 2025 alone. A third of total accounts in 2025 were held by clients between the ages of 30 and 40, Doug Wilson, regional market executive, Florida at Charles Schwab, told South Florida Business Journal.

Concorde Investment Services:

Burgess:

The London-based luxury yacht brokerage and charter firm has found harborage in Palm Beach. The move strengthens Burgess’s presence and Palm Beach’s status as a global hub for ultra-high-networth clientele and luxury maritime services. The arrival to Palm Beach island marks the company’s second location in Florida and fifth in the U.S., including Miami, New York, Aspen and Newport Beach. Situated just minutes from Worth Avenue, the Intracoastal Waterway and the county’s premier marinas, the office offers convenient access to yacht owners, family offices and ultra-high-net-worth clients who frequent the global hub for wealth and finance. Burgess has noted that this is the latest move in its continuing U.S. growth strategy of providing yacht brokerage and charter, acquisitions, management, new-build projects and advisory services.

In another move highlighting the continued financial services migration to the Palm Beaches, Concorde relocated its corporate headquarters from Michigan to Boca Raton. Its 9,000 square feet of space and 30 new jobs underscore Boca Raton’s appeal as a destination for financial firms seeking favorable business conditions and access to skilled professionals. Concorde Investment Services serves as the headquarters for a national leading independent broker-dealer, registered investment advisor (RIA) and insurance firm. The firm’s parent company, Concorde Holdings, serves clients across all 50 states with a clear focus on long-term partnership and purposeful progress. The new Boca Raton headquarters will support the company’s continued national growth and expanded operations.

Voloridge:

The global quantitative investment firm recently acquired a significant property representing 35,000-plus-square-feet at 900 U.S. highway 1 in Jupiter. The purchase marks the company’s second property acquisition in Jupiter this year and provides additional space to support future growth. The planned expansion is expected to create some 200 high-tech jobs, further cementing the area as a hub for fintech and data-driven investment innovation. The expansion underscores Voloridge’s focus on attracting top talent, while fostering innovation across both finance and health care. In 2025, Voloridge was honored as the No. 1 top workplace among mid-size employers in South Florida and was recognized for its outstanding, employee-centric culture. “This represents an exciting next step for our organization,” Voloridge President Barry Miller said in a statement. “This investment in Harbourside Place reflects our long-term plans in Jupiter and our commitment to building for the future in the community we proudly call home.”

CORPORATE MOVES

G.O.A.T. Foods:

A respected local entrepreneurial success story, G.O.A.T. Foods this year expanded into a 68,000-square-foot high-tech production and headquarters facility in West Palm Beach. Founded in 2020, G.O.A.T. Foods has grown from a single licorice brand into a multi-milliondollar portfolio of specialty direct-to-consumer brands operating on high-tech digital storefronts. These include Licorice.com, Pretzels.com, Caramels.com, Chocolate.com, Taff y.com, Cupcakes.com, Truffles.com and Cookies.com. G.O.A.T.’s rapid growth highlights the increasing scalability of homegrown brands within the region. With the 75 new hires, the 225 people in the technology-driven facility manage a portfolio of eight snack brands. The new HQ centralizes executive leadership, marketing, brandmanagement, digital strategy, finance, eCommerce, analytics andoperations. The company’s model combines category-definingdomain names with modern e-commerce infrastructure to enable scalable national growth.

Blue Ops Inc. (Red Cat Holdings):

Red Cat Holdings, a U.S.-based provider of advanced all-domain drone and robotic solutions for defense and national security, launched Blue Ops, its new maritime-focused division. Anchored by an 11,400-square-foot innovation center, the facility is dedicated to advanced maritime defense technologies, including autonomous surface and underwater systems. The company is expanding deep into the maritime domain, innovating uncrewed surface vessels and delivering integrated platforms designed to enhance safety and multi-domain mission effectiveness. The news reinforces the region’s growing role in defense innovation. Blue Ops recently hosted its first “Demonstration Day,” welcoming clients from around the world to Lake Okeechobee for live, on-water demonstrations of its cutting-edge capabilities.

ADDITIONAL COMPANIES ON THE MOVE:

Amerant Bank:

Opened its new West Palm Beach banking center and regional headquarters office located at 525 Okeechobee Boulevard in West Palm Beach.

Attune Agriculture:

Based in Boca Raton, the leader is developing performancebased agricultural products using hydrocolloid technology. It recently extended its adjuvant product line with a soil-applied adjuvant.

Generational Wealth:

Launched in early 2026 in North Palm Beach, the firm has reached nearly $1 billion in assets under management.

PetMeds:

Headquartered in Delray Beach, it has been experiencing significant growth.

Vocodia Holdings Corp:

Based in Boca Raton, it entered into a commitment letter to acquire a 51 percent majority stake in Privacy Pal LLC.

West Boca Medical Center:

Hospital offers general medical and surgical care, orthopedics, a robotic surgery program, women’s and children’s services and the only level III NICU in southern Palm Beach County. WBMC has a planned expansion to add 68 new jobs. The BDB assisted with expedited permitting.

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POSITIONING THE STATE AS A LEADER IN AMERICA'S QUANTUM RACE

On World Quantum Day in April 2026, Florida had much to celebrate as collaborative initiatives, corporate relocations, and strategic partnerships accelerated the growth of a world-class quantum ecosystem in just one year. Many of those announcements took place in the Palm Beaches.

Among the accomplishments …

l 15 Florida universities signed a historic memorandum of understanding establishing the Florida Alliance for Quantum Technology (FAQT) to strengthen collaboration among academia, state agencies, and private industry in advancing quantum research, commercialization, and workforce development. The signing took place in West Palm Beach.

l The Florida Opportunity Fund and Quantum Coast Capital formalized a partnership to co-invest in quantum technology companies across Florida.

l Palm Beach State College’s new Quantum Innovation Center in West Palm Beach will include an incubator and workforce hub co-located with the Florida LambdaRail.

l Florida Atlantic University acquired a $20 million D-Wave Advantage2™ system in Boca Raton, marking the first university in Florida to host a dedicated quantum computer on campus.

l D-Wave announced a corporate relocation of its headquarters from Palo Alto, CA to the Boca Raton Innovation Campus.

l Millions of dollars in grants have supported key advancements. Examples include Congresswoman Frankel backing Palm Beach State College's Quantum Innovation Center and the Business Development Board's efforts to facilitate quantum talent pipelines. The State of Florida has supported several initiatives, including PBSC's efforts to develop workforce training through the Florida Job Growth Grant Fund.

l A new statewide quantum asset map is being developed by Resonance Holdings, with the Business Development Board serving as the official state partner to FloridaCommerce, which provided a $250,000 grant.

l IonQ and Florida LambdaRail launched the nation’s first statewide quantum-safe network initiative. The 100-mile quantum corridor will connect research and education institutions from Palm Beach County to Miami-Dade over LambdaRail’s existing fiber network, with statewide expansion plans.

Many announcements began on the global stage of Quantum Beach, an international conference that took place in West Palm Beach in October 2025. It was co-hosted by Quantum Coast Capital, The Quantum Insider, and the Business Development Board, with nearly 500 attendees.

The creation of this quantum ecosystem required close collaboration by college and university presidents, Fortune 500 executives, startup founders and elected officials, said Kelly Smallridge, President and CEO of the Business Development Board.

“Together, our community created the conditions for an entirely new industry to take root here,” Smallridge said. “Quantum computing globally is projected to create hundreds of billions of dollars in opportunity in the next decade. This collaboration ensures the Palm Beaches will be taking a leadership role.”

News + Events

AMPERA: NEXT GEN

NUCLEAR ENERGY FOR A GROWING ECONOMY

When some 150 community leaders, elected officials and employees descended upon the Gardens Innovation Center at PGA National Commerce Park in Palm Beach Gardens, they got a glimpse into the future of clean, reliable energy.

AMPERA, an advanced nuclear reactor company, showcased its energy-dense, ultra-safe and rapidly deployable power units. Designed for the AI era, AMPERA’s next-generation subcritical, thorium-based microreactor systems require no refueling over their operational life. The result is scalable, emission-free power for data centers, defense and maritime applications.

“With the growth of AI and continued constraints on power supply, we are developing a reliable, safe, low-cost solution that can fundamentally change the energy landscape,” said AMPERA Founder and CEO Brian Matthews.

The 100,000-square-foot campus they toured supports research and development, engineering, proprietary additive manufacturing, assembly operations and administrative functions. The event was celebrated in partnership with the Business Development Board of the Palm Beaches, the PGA Corridor Association and the Palm Beach North Chamber of Commerce.

Our Team of Experts

For more than 35 years, we have called Palm Beach home and made its luxury real estate market our specialty. Our local depth translates into sharper property valuations, smarter strategy, and a buying or selling experience that is simply second to none. We invite you to experience the difference: in knowledge, in service, and in results.