Workers expect their defined contribution plans to play a greater role in their retirement income than annuities.
May 24--Broward County's economy will get a $6.5 billion annual boost from businesses that decided to move or stay in the past six months, the Greater Fort Lauderdale Alliance said Thursday in its mid-year report.
Those businesses are responsible for $1.2 billion in annual personal income, the alliance said.
-- Cusano's Italian Bakery, moving from Hallandale Beach to a large manufacturing space in Coconut Creek, making a $41.4 million capital investment, adding 20 jobs and 153.
-- In December, data security firm Prolexic Technologies, moving from Hollywood to downtown Fort Lauderdale, creating 118 jobs and retaining 120.
-- Stemtech International, producer of nutritional supplements, moving its international headquarters and manufacturing from San Clemente, Calif., to Pembroke Pines, creating 90 jobs.
People's Trust Insurance Co., creating 200 jobs and retaining 300 at Florida Atlantic University'sResearch Park in Deerfield Beach.
The biggest win for the alliance this fiscal year has been retaining 5,046 jobs, largely due to American Express, which announced in December that it is building a new regional headquarters in Sunrise. The credit card company employs 3,200 people in South Florida and considered moving to North Carolina or Arizona, the Alliance said.
President Bob Swindell said Alliance-assisted companies made $220 million in capital investment in its first two fiscal quarters, ending in March.
Since 2007, Broward County has created or retained 13,591 jobs, resulting in total employment of more than 31,000, according to the South Florida Regional Planning Council.
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