January 21, 2014
(SCROLL DOWN TO WATCH MAYOR MUOIO’S 2014 STATE OF CITY ADDRESS)
(West Palm Beach, FL) – It has been called by some a “game-changer” for the future of West Palm Beach’s economic future.
West Palm Beach Mayor Jeri Muoio, during her 2014 State of the City Address unveiled plans to designate a portion of the city’s downtown as a new financial district.
Mayor Muoio announced the creation of the Flagler Financial District, a new branding for a section of the city already home to numerous financial institutions.
“Our proximity to Palm Beach has always meant our city is an ideal hub for the financial sector,” Muoio told over 1,000 members of the business community during her State of the City Address. “West Palm Beach has not yet fully realized that potential, but today I am announcing a giant step forward. We already have a portion of our city where banking and finance is heavily concentrated. Now we need to let the world know about it.”
A tweet from the city’s Twitter account before the speech characterized the move as “Wall St. in WPB.”
“The creation of a financial district will raise the level of sophistication in downtown West Palm Beach, and will be a tremendous asset that will put us on the map,” said Daniel Martell, the head of the Palm Beach County Economic Council.
“West Palm Beach is perfect for having a financial district within its city,” said Kelly Smallridge with the Palm Beach County Business Development Board. “Creating a brand for West Palm Beach for financial service firms to come to this area is very important for building depth and density,” said Smallridge.
The Flagler Financial District will include numerous financial firms and banking institutions already located in the heart of downtown West Palm Beach. It will stretch from Okeechobee Boulevard to 6th Street, and Flagler Drive to Rosemary Avenue.
“Not only will highlighting a financial district as a brand set us apart in attracting new businesses, it also recognizes the commercial banking institutions and financial businesses already in our City,” said Mayor Muoio.
“The advantage of focusing on that target group is that they are value added jobs that have high salaries and also provide a building block to spin off additional business recruitment,” said Dennis Grady with the Chamber of Commerce of the Palm Beaches.
The city will now begin plans for not only labeling the district throughout the downtown, but also develop a plan to market it to the financial sector.
WATCH MAYOR JERI MUOIO’S ENTIRE 2014 STATE OF THE CITY ADDRESS HERE: