|Area||6.97 square miles|
|Median Age||36 years|
|Median Earnings for Workers||$20,991|
|Mean Earning for Workers||$39,114|
|State Income Tax||None|
*Bureau of Economic & Business Research | UF | April 1, 2017
The City of Lake Worth has adopted a variety of innovative incentives to encourage private investment & facilitate a robust economy.
Electricity Incentive Program
The Economic Development Electricity Incentive Rate Program ties a discounted rate for commercial electric to job creation within municipal boundaries.
In order to qualify for the Economic Development Electricity Incentive Rate:
- Create 10 New Full-time Jobs
- Add 150kw of New Load to Lake Worth Electrical Grid
The new discounted electrical load rate is applicable to new business establishments, commercial or industrial space that has been vacant for more than one month, and the expansion of existing establishments. The program is not available for load shifted from one location to another.
Year 1: 23.6% reduction to be credited in Year 2
Year 2: 20% reduction to be credited in Year 3
Year 3: 15% reduction to be credited in Year 4
Year 4: 10% reduction to be credited in Year 5
Year 5: 5% reduction to be credited in Year 6
Economic Investment Incentive Program
Lake Worth Park of Commerce
- 313 acre site adjacent to major transportation routes
- Palm Beach County Urban Redevelopment Area
- Palm Beach County Concurrency Exception Area
- Details on Park of Commerce
- I-95 has two interchanges within the City of Lake Worth, both conveniently located adjacent to the Lake Worth Park of Commerce.
- CSX Railway borders the eastern edge of the Lake Worth Park of Commerce.
- Tri-Rail Commuter Train – serving communities from Miami to West Palm Beach – has a station within municipal boundaries and less than ½ mile from the Park of Commerce.
- FEC Railway runs through downtown Lake Worth with a proposed station in the South Florida Regional Transportation Authority’s Fast Start Program.
- Palm Beach International Airport is located less than 4 miles directly north of Lake Worth.
- Port of Palm Beach is less than 10 miles north of the Lake Worth Park of Commerce.
- Florida’s Turnpike is 5.6 miles to the west of the Park of Commerce.
- U.S. Customs and Border Protection has operations in Palm Beach County enabling faster turn-around time for products entering the United States.
City Commission Approves Benzaiten Center for the Creative Arts
The City Commission has approved a unique public/private partnership with The Living Arts Foundation, Inc. The Foundation has transformed a City-owned historic property into the Benzaiten Center for the Creative Arts.
Excellence in Economic Development | IEDC
City of Lake Worth received a Bronze Excellence in Economic Development Award for its 2014 project in the category of Special Event for communities with populations of 25,000 - 200,000 from the International Economic Development Council (IEDC).
"Economic development efforts have long been a keystone in the quest to bolster the economy and improve quality of life in every locality across the country," said Bill Sproull, IEDC chair. "As the nation continues to tackle challenges in the midst of global uncertainty, these efforts have taken on an even greater significance. With this award, we laud trend setting organizations like City of Lake Worth for leading the charge."