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Two Financial Companies Relocate to Palm Beach County

Two companies in the insurance and finance industry were recently assisted with relocations to the West Palm Beach area thanks to the Business Development Board of Palm Beach County.

Olympus Insurance, which moved to Palm Beach Gardens from Orlando, currently has more than 70,000 property insurance policyholders across Florida and plans to hire 50 employees with an average annual wage of $61,546.

The Business Department Board helped Olympus Insurance secure expedited permitting from the city when leasing 18,648 square feet at 4200 Northcorp Parkway.

In a news release, Olympus Insurance CEO Jeffrey B. Scott said, "Our company is expanding its footprint and that expansion means not only are we positioned to provide increased capacity, additional product options, and better services for more Floridians and their families, but also contribute to the Florida economy by providing jobs which help support those same families.”

Govic Capital, a wealth management firm and hedge fund recently signed a 1,000-square-foot lease at 125 Worth Ave. in Palm Beach and will base its new headquarters there.

Although the firm will still maintain a small presence in New York and Sarasota, founder and President Mario Govic said "We chose Palm Beach County because of the infrastructure and convenient location."

According to the Business Department Board, Govic Capital plans on hiring eight employees with an average wage of $85,000.

Business Department Board President and CEO Kelly Smallridge explained, "These relocation projects are solid wins for Palm Beach County and demonstrate the BDB's commitment to strengthening the economic vitality and diversity of our county. The economy is definitely rebounding, and the pipeline of companies looking to relocate to Palm Beach County continues to grow."