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From Fields To Fortune

Charting 100 Years Of Boca Raton’s Business Growth And Transformation

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Over 100 years ago, before Boca Raton was the thriving business community and luxury tourism destination it is today, its roots were agricultural. With a climate ideal for tropical crops, pineapple plantations, in particular, dominated the landscape.

Throughout the next century, the city transformed into a diverse, dynamic business hub with an emphasis on technology, health care, professional services and hospitality.

As a result, Boca has maintained a strong employment rate and a year-over-year increase in household income that exceeds national averages, along with the continued expansion of commercial development.

In celebration of Boca Raton’s milestone birthday, we’re taking a look back at its economic resilience, remarkable growth and corporate coming of age.

Foundations & Setbacks

(1920s-1930s)

The Great Miami Hurricane of 1926 was a Category 4 storm that struck South Florida and the Bahamas in September. Its impact was devastating, with an estimated $105 million in damages, which today is equivalent to over $1.5 billion.

Just one year earlier, South Florida had been enjoying a land boom that was already beginning to slow due to an unsupported supply and demand chain.

“August 1925 was the height of the boom,” explains Susan Gillis, curator at the Boca Raton Historical Society. “But the Florida East Coast Railway, which was the only rail line in Southeast Florida, put an embargo on bringing in building supplies. Why? There wasn’t enough labor to offload the supplies, and they’d clog up the boxcars. There wasn’t enough labor to offload them because all the labor was busy building houses. However, when you embargo supplies, you can’t build more houses, right? So that was sort of the death knell of the boom.”

The hurricane not only destroyed most houses built during the boom, it also shook the confidence of investors with plans to build in Boca Raton, prompting many to pull out. The domino effect led to banks and businesses closing. Even the firm of preeminent architect Addison Mizner, who designed some of the city’s most iconic homes and hotels, was forced to declare bankruptcy.

The timing couldn’t have been worse. With the start of the Great Depression in the fall of 1929, Boca Raton’s population sharply declined as people fled in search of opportunities elsewhere. According to Gillis, Boca Raton had roughly 200 residents in 1920. During the development frenzy, it surged to 5,000. By 1930, it was back down to a mere 300.

Wartime Transformation & Renewal

(1940s)

Like much of the country, Boca Raton began to emerge from the Great Depression during World War II thanks largely to the construction of the Boca Raton Army Air Field in 1942. The Army Air Forces took over what had been a small municipal airport in Boca Raton and rapidly expanded it to house and train thousands of radio operators and technicians. The development included barracks, administrative buildings, hangars and radar training facilities. As the largest radar training base in the United States, the influx of more than 30,000 military personnel revitalized the local economy and population.

During WWII, the storied Boca Raton Club (later the Boca Raton Hotel and Club, Boca Raton Resort & Club and now The Boca Raton) served as army barracks and officers’ quarters — a vivid example of how the military presence revitalized the city’s landmarks. It also set the stage for postwar growth, as many former officers and their families returned to settle permanently.

“That was an incredible economic boom,” explains Gillis.

Today, part of the base’s 6,000 square feet is now occupied by Florida Atlantic University’s (FAU) student union.

Postwar Growth & The Rise Of Tourism

(Late 1940s)

As veterans returned and settled, the demand for housing, schools, medical care and services grew, further contributing to the development and expansion of its budding business hub.

It was also during this period that millionaire real estate mogul J. Myer Schine laid the groundwork for Boca Raton’s robust tourism industry. After acquiring the Boca Raton Club in 1945, he began marketing it to the upper class as a warm-weather luxury experience, advertising it as “America’s finest winter resort hotel” catering to what was referred to as a “discriminating clientele.”

While agriculture remained an important part of the economy, Schine’s vision helped spark the beginning of Boca Raton’s tourism market, attracting an increasing number of wealthy visitors and setting the foundation for future growth.

Innovation Takes Root

(1950-1975)

Postwar, Boca Raton also began its transformation into a metropolitan city, much of it elicited by the milestone opening of FAU in 1964, the first public university in Southeast Florida.

“By the end of the 1950s, the former military base was given to the Department of Education as the home of a new state university, FAU,” Gillis says. “And the influx of students, faculty and others affiliated with the university created a need for more business. When we got FAU, we got a hospital, we got a high school and, of course, Arvida, the great real estate development company.”

The Arvida Corporation — founded by aluminum mogul Arthur Vining Davis — played a major role in developing communities that catered to affluence. In addition to acquiring the Boca Raton Hotel and Club in 1958, other notable Arvida developments included the Royal Palm Yacht & Country Club, Boca West Country Club, The Club at Boca Pointe and Broken Sound Club, all of which began attracting new high-net-worth residents.

Offering exclusivity and amenities like yacht facilities and 18-hole golf courses, these private clubs also played a key role in establishing Boca Raton as an elite, upscale resort community.

Improved window and central air conditioning technology also added to favorable conditions that made year-round living in Boca Raton more and more appealing.

The IBM Era & Corporate Growth

(1966-1975)

By the mid-1960s, IBM had already established itself as a global leader in business computing, pioneering innovations in data processing, mainframes and corporate technology. In 1966, IBM chose Boca Raton as the location of a large-scale manufacturing plant known as its North American Research and Development Facility, compromising more than 40 buildings at 3.6 million square feet.

“It’s a beautiful location, the land was cheap, taxes were favorable and it was near major roads,” notes Gillis.

With approximately 10,000 employees at its peak, IBM established Boca Raton as a technology hub and greatly diversified the economy beyond tourism and agriculture. In 1981, IBM’s Boca Raton facility developed the landmark personal computer, a breakthrough that revolutionized the modern workplace and firmly placed Boca Raton on the map as a center of innovation.

Its effect on the economy cannot be overstated. Not only was IBM a game changer, but it led to other companies that worked directly with IBM to open Boca Raton divisions, including electronic manufacturers in IBM’s supply chain.

By 1975, Boca Raton’s population reached approximately 30,000 residents.

After corporate restructuring and downsizing efforts in the early 1990s, IBM sold the original campus, which was redeveloped into what is now known as the Boca Raton Innovation Campus (BRiC), a 1.7 million-square-foot commercial property that houses, among other businesses, cafes, art exhibits, fitness centers, conference centers and more. Visitors can also learn more about IBM’s contributions through BRiC’s historical displays.

Other key developments during this period included the Arvida Parkway, now known as the Glades Road corridor business district, home to office complexes, restaurants and retail shopping.

Diversification & Expansion

(1980s-2000s)

By 1984, IBM was Palm Beach County’s largest corporate employer, with 8,500 Boca Raton workers. Its presence not only led to a residential boom, but nearly all of Boca Raton’s business sectors blossomed.

In 1986, Office Depot established its headquarters in Boca, along with chemical manufacturer W.R. Grace & Co., technology giant Siemens Communications and security firms Sensormatic Electronics Corporation and Tyco.

Boca Raton also emerged as a premier shopping destination. Town Center at Boca Raton opened in 1980. The 1991 debut of Mizner Park introduced high-end retail, dining and cultural spaces. Today, it remains one of South Florida’s top shopping and lifestyle centers.

Advances in medical services further strengthened the city’s growth. The West Boca Medical Center, which opened in 1986, was especially welcoming to Jewish doctors at a time when many hospitals in East Boca were less inclusive. Its open approach helped support the city’s growing Jewish professional community. Sage Dental, founded in 1997, has grown into one of the nation’s leading dental service organizations.

FAU expanded its academic programs and research initiatives that directly benefited the local economy by strengthening its business and engineering programs, producing skilled graduates with degrees ready to enter the workforce in South Florida.

The 1980s ushered in a new era for Boca Raton’s hospitality sector. In 1980, Arvida completed the $20 million Boca Beach Club, which featured 212 rooms and 142 oceanfront cabanas, representing a major upgrade to the city’s hospitality offerings. Tourism quickly became a leading contributor to the economy, while Boca Raton also began attracting retirees seeking upscale living communities.

Throughout the 1990s, the city’s hospitality sector continued to expand, with luxury resorts, country clubs and upscale residential communities fueling Boca Raton’s reputation as a premier destination for both leisure and high-end living.

A New Century Of Opportunity

(2000-2025)

Boca Raton has evolved from a farming village and Mizner’s Mediterranean-inspired resort town into a diverse business epicenter for top companies and landmark destinations.

Celsius Holdings, parent company to leading fitness and energy drinks brand Celsius, was founded in Boca Raton in 2004, at the height of the energy drink trend. It has since experienced massive growth, with 2024 reported revenue reaching $1.36 billion.

In 2021, The Boca Raton unveiled a new name and a $200 million renovation that refreshed and redesigned its guest rooms, restaurants, spa facilities, golf and tennis courts and beach access — enhancing its reputation as one of South Florida’s most luxurious destinations and securing its place as an enduring icon of Boca Raton’s history.

Other major developments include the ALINA Residences — comprising ALINA 200, ALINA 210 and ALINA 220 — three top-of-the-line luxury condominium towers featuring resort-inspired spa and wellness offerings. Further proof that high-end real estate remains in high demand, The Aletto Offices at Sanborn Square, a 24,000-square-foot, state-of-the-art conference center, is expected to set a new standard in luxury workspaces.

Adding to Boca Raton’s growing role in the national consumer economy, Amazon now houses a fulfillment and distribution center within the city.

Today, Boca Raton is a vibrant urban center with a diverse business landscape. As mentioned earlier, the former IBM campus has been repurposed as BRiC, home to emerging technology companies. Midtown Boca is a bustling commercial and lifestyle district, and real estate development continues to transform the city’s skyline.

Finance and banking are thriving, with some referring to Boca Raton as “Wall Street South.” Other backbone categories of the economy are technology, aviation and of course, tourism and hospitality.

“Boca Raton was built on decades of strategic growth and business leadership,” says Sarah Pearson, executive vice-president of the Boca Raton Chamber of Commerce. “Continued innovation, civic engagement and long-term economic prosperity have ensured Boca Raton remains the best place to live, work, learn and play.”

Centennial Club

These Icons Are Also Marking 100 Years Of Legacy

The Boca Raton

The luxury hotel and resort was founded in 1926 and built by renowned architect Addison Mizner. It has since undergone several transformations, serving as the base for Army barracks during World War II. Post-war, the property was purchased by the Schine family and renamed the Boca Hotel and Club, and later renamed again as the Boca Raton Resort & Club. In 2021, it was christened simply The Boca Raton. Today, the 200-acre waterfront property features more than 1,000 hotel rooms and serves as Boca’s preeminent luxury private club — and will celebrate its 100th anniversary next year.

University of Miami

Located in Coral Gables, UM, as it is known, also marks its 100th anniversary in 2025. Founded in 1925 during Florida’s land boom, the venerable private college weathered both the 1926 Miami hurricane and the Great Depression, never once closing its doors. The student population grew post-World War II, with many returning veterans taking advantage of the GI Bill, which underwrote education expenses to give soldiers the skills to prosper in civilian life. Its medical school, established in 1952, is now one of the nation's leading academic medical centers. Today, the university has 12 locations across multiple campuses. Its colors are orange, green and white, and its mascot is Sebastian the Ibis, one of the most common species of wading bird in Florida. In a nod to the upcoming centennial, graduates this spring wore collars emblazoned with the UM logo.

Fendi

The Italian luxury fashion house Fendi was founded in 1925 in Rome by husband-and-wife designers Edoardo and Adele Fendi. Its original boutique was a leather and fur shop which, over the past century, has evolved into one of the world’s foremost fashion labels. In the 1940s, the five Fendi sisters took over the business. In 1965, the iconic Karl Lagerfeld joined as creative director, and, in 1977, debuted Fendi’s “double F” monogram. In 2001, the brand was acquired by LVMH, which also owns Louis Vuitton, Dior, Givenchy, Celine and Stella McCartney, among other top labels. Its February 2025 collection during Milan Fashion Week honored the 100th anniversary with two of Eduardo and Adele’s 7-year-old great-great grandchildren opening the show.

Delta Airlines

Delta Airlines, one of the world's largest airlines, was launched in 1925 as a crop-dusting operation, showering protectants and fertilizers from the air. Founded in Macon, Georgia, it was renamed Delta Air Service as a nod to its Delta region roots. Its headquarters later moved to Atlanta, where the airline continued to grow through the decades, merging with or acquiring Chicago and Southern Airlines in 1953,  Northeast Airlines in 1972, Western Airlines in 1987, Pan Am’s transatlantic routes in 1991 and Northwest Airlines in 2008. In 2025, the airline continues to earn top marks for customer satisfaction. With nine major U.S. hubs and more overseas, the airline's centennial marks a significant milestone in American aviation history.

The Grand Ole Opry

The Grand Ole Opry is an iconic American institution and the longest-running radio broadcast in U.S. history. Founded in 1925 as the "WSM Barn Dance" radio program in Nashville, Tennessee, it was renamed in 1927 and has since featured countless country legends like Hank Williams, Patsy Cline, Johnny Cash, Dolly Parton and Garth Brooks. The Opry House is considered a major entertainment venue that hosts the radio show while also serving as a concert hall, helping cement Nashville as the capital of country music. Today, the Grand Ole Opry continues to showcase both established stars and emerging talent.

Chrysler Corporation

Chrysler Corporation was established by industrialist Walter P. Chrysler in June 1925. The company quickly established itself as one of the "Big Three" American automobile manufacturers alongside General Motors and Ford. Over the past 100 years, it unveiled a series of groundbreaking vehicles, including 1924’s original Chrysler Six. Sold at a base price of around $1,300, Chrysler Sixes today, depending on wear and condition, have sold for more than $120,000. Perhaps one of the most significant modern-day innovations has been the minivan. The Dodge Caravan and Plymouth Voyager, introduced in late 1983, revolutionized family transportation, filling a niche between station wagons and full-size vans. Today, Chrysler is one of 14 automotive brands under the Stellantis global umbrella. According to Car and Driver, its most popular model is the Pacifica minivan.

The Boca Raton Chamber Of Commerce: A HISTORY

The Greater Boca Raton Chamber of Commerce was established in 1952 by a collection of business leaders as a response to the city's postwar growth and the need for structured support for local enterprises. Their efforts laid the foundation for the Chamber's ongoing mission to support and advocate for the business community in Boca Raton.

It was also the start of organized community traditions, like decorating the city with holiday lights to enhance community spirit and local commerce. ​

Over the following decades, the Chamber has been a powerful force behind the city's economic transformation. In the late 20th century, the Chamber helped lead efforts to redevelop the underused Boca Raton Mall into Mizner Park — now a nationally recognized model of mixed-use revitalization. More recently, the Chamber played a key role in securing a Brightline station for the city, connecting Boca to other major Florida metros and reinforcing its place in the region’s economic network.

Today, the Chamber stands as the largest one in Palm Beach County, representing over 1,400 member companies and almost 100,000 employees. Its diverse membership base includes small businesses, large corporations, nonprofits and educational institutions. By providing resources, advocacy and networking opportunities, the Chamber supports its members in achieving business success and contributing to the community's prosperity.​

“Boca Raton’s success relies on economic growth, smart development and strong and strategic partnerships,” explains Sarah Pearson, executive vice-president of the Boca Chamber of Commerce. “We must continue to attract and retain corporations, startups and small businesses that focus on technology, health care, finance and education while preserving the infrastructure improvements, including the Brightline station and enhanced transit options that support residents, visitors and businesses. At the same time, thoughtful development near transit corridors and mixed-use projects helps manage traffic and congestion while protecting the city's unique charm. We’re also focused on maintaining safe neighborhoods, beautiful parks, manicured landscapes, excellent restaurant and retail options, unique cultural assets and A-rated public schools.”