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Avid Technology will Invest $2.6 Million To Locate Administrative Complex In Boca Raton, Florida

07/06/2015
Avid Technology, a provider of audio and video technology for the media and entertainment industry, will expand its North American administrative headquarters to Boca Raton, Florida. The expansion is planned to take place over the next three years, ultimately creating 100 jobs and $2.6 million in capital investment.

“The Avid team is delighted to be joining Boca Raton’s long heritage of innovation that began as the site where the first IBM personal computer was developed and continues strong today,” said John Frederick, Executive Vice President, CFO and CAO of Avid.

“Establishing this hub for our critical administrative functions in Boca Raton gives Avid access to one of the top growing talent pools in the U.S. and serves as a gateway location to our Latin American customers. We look forward to contributing to the Palm Beach County job economy with this expansion and becoming part of the community,” he added.

Governor Rick Scott said, “Avid considered national and international locations for this expansion and we’re excited to announce that they selected Florida. Since December 2010, more than 879,000 private-sector jobs have been created in our state, and we are focused on being the best state in the nation for businesses to grow. We will continue working to improve the state’s business climate and create more jobs for Florida families.”

Bill Johnson, Enterprise Florida President/CEO said, “We are happy to welcome Avid to Florida’s robust IT sector and look forward to their growth. Thanks to Governor Scott’s pro-business policies, Florida is truly the number one place for businesses to grow and we thank Avid for their commitment to the state.” The project was made possible through strong partnerships between the Florida Department of Economic Opportunity, the City of Boca Raton, Business Development Board of Palm Beach County and Enterprise Florida.

Florida Department of Economic Opportunity Executive Director Jesse Panuccio said, “Like the state as a whole, Palm Beach County is having an incredible economic resurgence. The expansion of Avid Technology is another example of how Governor Scott’s pro-growth policies lead to jobs for local families.”

Business Development Board of Palm Beach County President/CEO Kelly Smallridge stated, “Every month, more and more companies are choosing Palm Beach County to build their businesses. Avid’s decision to expand into Boca Raton is a huge win and they will have a significant impact on the area.”
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