Palm Beach County is a good place to invest in smart technology. To cite an example, a 30,561-square-foot mansion in North Palm Beach was bought for $1.5 million, and was sold (and probably still selling) for $33 million when the owner automated it and did other smart renovations.
What does that property have for smart home technology? It has a glass elevator, wine room, movie theater, a full-house generator and a six-car, climate-controlled garage. Outside, an infinity-edge pool with multiple spas and over 450 linear feet of water frontage on a canal provides access to the Intracoastal Waterway.
Premium Digital Control & Automation has done similar projects like this in Palm Beach County, which is known as the leading county in the state of Florida for both people and income growth by a wide margin, according to a Unacast study.
Who lives in Palm Beach
Many of our clients come from New York’s Wall Street which now comprise the most number of residents in Palm Beach. The permanent moves of hedge fund companies and private equity firms based in New York have also transformed the county and turned it into Wall Street South, its new moniker.
For those wondering, West Palm Beach has 44 billionaires in a population of 1.4 million. You could be one of them. It is third in terms of population size to Miami-Dade and Broward counties, but it has the most net population flow, with 11,100 new migrants in its 10.4-square mile area. Many of the executives from these firms were traveling snowbirds who stayed in their second homes in the county during wintertime.
Nearly 60,000 New Yorkers pay a visit to Palm Beach for 8 or more weeks. When the pandemic happened, many decided to stay for good – with about 70,000 high net-worth New Yorkers taking $34 billion in lost income with them.
Many homeowners here also find themselves renting offices that require smart technology. Used to having smart technology systems for their business, it’s common to hear homeowners with commercial establishments, even resimercials, ask for automation systems – in order to improve efficiencies and add security systems.
Investors have a lot to say
Doug Cifu, CEO of Virtu Financial and co-owner of the Florida Panthers can no longer see why people stay in New York. He was quoted as saying, “ I see no reason why a hedge fund or private equity firm should stay in New York. It makes no sense to me whatsoever.” He has moved his office from New York to the DiVosta Tower located in Palm Beach Gardens, Florida.
For her part, Kelly Smallridge, president and CEO of Business Development Board, says, “It has been the most economic activity we’ve seen in the past three decades from one industry, referring to the corporate relocations in Palm Beach County,
The Business Development Board of Palm Beach County (BDB) has facilitated 31 corporate relocations that we are tapping for smart home integration service. Other companies have selected Palm Beach County for their relocation or expansion over the past year.
Thanks to South Florida’s tropical climate and non-existent state income tax, these companies found the best reasons to stay – and to do business.
Your neighbors in Palm Beach County
You want to know who your neighbors are? Based on the raw number of people and the average net income flow, Palm Beach also gained $3.4 billion in new income in 2020.
SIW Solutions is looking forward to a 168,000-square-foot headquarters in central Palm Beach County where it will manufacture high-end impact windows and doors. From the Netherlands, V2Techs moved to Palm Beach County to compete in the electric ships market specializing in clean energy and marine industries.
EXUMA Biotech will open a new 6,500 square-foot research lab with 100 life science positions in Palm Beach. From California, GlobalListings will have a downtown office in West Palm Beach to house its largest online international real estate listings.
Amazon announced its third facility in Palm Beach County, with the latest one extending over a million square feet. Jupiter Center for Discovery opened a new life science incubator in Jupiter, transforming 25,000 square feet of lab space.
MPLT Healthcare formed a 23,000-square-foot corporate headquarters in Boca Raton, Florida. Niagara Bottling added 115,000 square feet of space to its 409,000-square-foot manufacturing and distribution facility.
Florida now has the talent, university, infrastructure and trained workforce, says Rob Poster of the mortgage company, New Day USA. He was quoted as saying in an interview with ABC news 25, WPBF.
So if you’re looking to have both your smart home and place of business, we can confidently say we can do both for you. We can even have you control both of them with your chosen mobile device. You can be anywhere (at the beach perhaps?) and still see and control your place in the world, figuratively speaking.
Our fully qualified staff is here to assist you with smart integration services in Palm Beach. We are committed to our customer’s satisfaction!
Contact us at (954) 637-1361 or email us at firstname.lastname@example.org
Founded in 2015, Premium Digital Control & Automation provides customized smart technology solutions for residential and commercial establishments from Palm Beach to Miami. We customize smart homes in line with customers’ lifestyle and personal needs using top brands such as Control4, Crestron, Ketra, Savant and Lutron. Schedule a home or office visit with our highly trained and trusted technicians now.
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