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Insights and Expertise

Consider the economic footprint of the Research Park at Innovation destinations:
FAU in Boca Raton, Fla. In 2024, its tenant companies sup- the future of financial services growth
ported 978 direct jobs (see https://bit.ly/3XbhdcY) and cre-
ated another 160.5 net new positions. Success now depends on planting roots in places where
ideas, people and resources are within reach. Independent
Beyond the Research Park, the region's economy is also fu- research parks serve as these "innovation destinations,"
eled by additional innovation hubs and resources such as offering the rare proximity of academic insight, advanced
FAU's Tech Runway, 1909, the Hispanic Entrepreneurship infrastructure, entrepreneurial peers and workforce read-
Initiative and Palm Beach State College programs — each iness in one place.
playing a pivotal role in nurturing startups, strengthening
workforce pipelines, and accelerating fintech, banking, For decision-makers in banking, payments and fintech,
and digital technology solutions. the implication is stark: the question is no longer just,
where should we expand or relocate? But, which ecosys-
Equally important, these benefits spread widely. A single tem will amplify our future? Those who answer by choos-
fintech company expanding within an innovation hub ing to embed within a research park may find that inno-
may collaborate with a payment processor or compliance vation, talent and opportunity are one of just a handful of
technology provider down the hall, hire interns from next characteristics that define the right location.
door, or draw on local suppliers for specialized equip-
ment. Each of these micro-interactions fuels a multiplier Jessica Del Vecchio is the Economic Development Manager for The
effect that strengthens the broader economy. Office of Economic Development, City of Boca Raton, Fla. She launched
the Office of Economic Development in 2015, and since then she has suc-
For banks and fintech firms, this matters because location cessfully facilitated dozens of corporate relocation and expansion proj-
decisions are increasingly tied to ecosystem vibrancy. A ects. She has a BSBA in Business Management and an MBA in Finance,
company that situates itself in a high-output research park
is not only buying access to immediate resources but also both from Lynn University. For more information and to reach Jessica,
embedding itself within a virtuous cycle of innovation please visit https://www.myboca.us/470/Economic-Development.
and growth.

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