BOCA RATON, FL (Boca Post) (Copyright © 2025) — The City of Boca Raton is making its case to the business world and to New York in particular.
In a new 17-page report titled Why Smart Companies Choose Boca Raton, the city’s Office of Economic Development lays out what it calls a “compelling financial argument” for relocation. The report is the output of research conducted by The Boyd Company Inc. who the Office of Economic Development hired in 2025.
According to the report, Boca Raton beats out 20 major cities when it comes to operating cost of a 60,000 square foot corporate headquarters.
Running that same office in Midtown Manhattan, the report says, costs about $33.4 million a year. In Boca Raton, the total drops to $25.9 million — a difference of $7.5 million, or roughly 22.5 percent. The city now uses this number as its main promotional statistic.
The research data consists of actual business costs which include rent payments and utility bills and employee salaries and tax expenses and travel expenses. Class-A office rent in Boca averages $44.42 per square foot, compared to $84.94 in Manhattan. Electricity rates are about half, and Florida’s 7% sales tax comes in nearly two points below New York’s 8.88%. The report also points to lower labor costs, a lighter cost of living, and Florida’s lack of state or city income tax.
The message shows that mathematical calculations indicate the best option is to move south. This is in line with the area, not just Boca Raton, being dubbed Wall Street South.
The report says that Boca Raton has emerged as "New York City's Sixth Borough" which has triggered responses that go past basic local enthusiasm. In a recent Facebook post by the Office of Economic Development, users posted hundreds of comments sharing their local historical knowledge and expressed both amusement and discontent.
“When I first moved here 16 years ago, Boca Square was a perfectly acceptable neighborhood for blue-collar families to survive,” wrote Melissa Lazrovitch Passarelli. “It has been unfortunately destroyed. Blue collar doesn’t belong there anymore.”
Others chimed in to defend the old neighborhoods. “I grew up in Boca Square since the ’70s and my dad still lives in the same house across from Addison Mizner,” replied Sean Casey. “There’s only one house on 12th Ave that’s been rebuilt… sure, the traffic and people have destroyed Boca, but the houses are all the same.”
The conversation between them evolved into a nostalgic discussion about their shared memories of Bennigan’s at Glades and Boca Ale House and the first model homes that appeared near Clint Moore Road during the early 1990s. The residents shared two different perspectives about their town because some people missed the past when Boca Raton had its own unique identity, but others complained about the ongoing building projects.
The discussion took a negative turn when participants reached the middle point of the thread. “We’re not NY and don’t want to become like NYC,” said Rachelle Saint-Louis, echoing a sentiment that drew plenty of attention. “South Florida already is the 6th borough of NY since like the 1980s,” joked another commenter.
Others worried less about culture and more about cost. “Great, so they come where they can pay the people cheap, get tax cuts, and cause massive increases in real estate,” wrote Amy Collins, while Cynthia Krause took aim at one of the report’s buzzwords: “‘Competitive labor’ — i.e., cheap labor? Yikes.”
Still, not everyone was cynical. “A city defined by luxury and prosperity,” wrote Andrew Closson. “I look forward to witnessing its continued growth and success.”
The thread split into two opposing groups which included supporters and opponents who maintained different perspectives about the city.
The research confirms what business leaders have been saying for years that Boca Raton offers essential market infrastructure together with desirable lifestyle advantages at lower operational expenses. The corporate hub status of Boca becomes more believable because Florida Atlantic University produces continuous graduates and the area has three major airports and expanding modern office facilities at BRiC and the Park at Broken Sound.
People experience discomfort when they question the authenticity of the "Sixth Borough" term. Many longtime residents see it as shorthand for overdevelopment — higher prices, denser traffic, and a loss of the easygoing character that once defined the city. “Not if you destroy its history and ruin downtown with unnecessary construction,” warned Soren Buchanan.
Even the jokes had an edge. “You’re turning it into Queens,” one person posted. “Maybe a tropical Staten Island,” another shot back.
The snark demonstrates how South Florida deals with its common challenge between urban development and preservation of its cultural identity. Boca Raton used to be known as a peaceful coastal retirement community with golf courses. Many residents adored the quiet, which is all but gone now. Residents are frustrated when they see that the City is now actively appealing to corporate headquarters and swaths of New Yorkers as part of a potential mass exodus.
The report concludes by advertising the city's "white-glove concierge service" which serves as a program to help companies with their relocation permitting needs. The program offers candidates who require personal assistance to obtain their licenses quickly.
The public response to this new development remains mixed. The business model of Boca Raton maintains high public exposure, yet some residents maintain their opposition to the project.
The complete report can be viewed here.
What are your thoughts?
Boca Raton’s boom keeps raising the same question — how much growth is too much, and who gets to decide what kind of city Boca becomes next? Tell us what you think in the comments below.
