People's Trust Insurance moves headquarters from Boca to FAU Research and Development Park
The words are as familiar as the location, at I-95 just south of Southeast Tenth Street in Deerfield Beach.
“The corporate headquarters relocation…will serve as a catalyst for the company’s growth…with local businesses profiting from the activities of 300 new employees (and) … a program for students at Deerfield High School …”
The first time that announcement came with regard to FAU Research and Development Park at Deerfield Beach, it was ten years ago and it was Atlanta-based HomeBanc Mortgage Corp. that was to work symbiotically with FAU. The park was to serve as a catalyst, attracting industry and creating learning opportunities for Deerfield Beach High school students.
Instead, the economy turned. The 23 tenants and Technology Business Incubator never materialized. City Manager Larry Deetjen eventually was fired and, on August 9, 2007, HomeBanc filed bankruptcy.
For years, the parcel grew little more than grass. On Thursday, however, came news that the hapless park’s luck is about to change; Boca Raton-based People’s Trust Insurance Company announced it was moving its corporate headquarters from Boca Raton to a building and property it has purchased at the park – and the announcement sounded strangely familiar.
“The corporate headquarters relocation of People’s Trust to Deerfield Beach will serve as a catalyst for the company’s growth…with local businesses profiting from the activities of 300 new employees (and benefiting) …students at Deerfield High School …through mentoring, after school and summer jobs, as well as sponsorship of school teams and/or events.”
“It’s the first movement we’ve seen at Florida Atlantic University Research and Development Park,” said Mayor Jean Robb.hailed the development as long overdue. “I never was in favor of giving it to FAU for a buck. At least two hotels were interested (and) the city had first dibs after it was abandoned by [the Florida] DOT…”
“This is something that is happening now -- which is good.”