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South Florida Commercial and Office News: Learning Lessons From Office Depot

Written on July 8, 2013 at 10:00 am

Danburg Office_Depot_Corporate_HeadquartersFor as long as Danburg Properties of Boca Raton has developed, owned, managed and leased commercial, office and warehouse space in South Florida, we’ve been witness to a fact of business life: An acquisition or merger between two companies invariably leads to one leaving its corporate headquarters to relocate in the home of the other.

The Boca Raton business community is facing that right now. The proposed acquisition by Office Depot of Office Max will leave one community short of a Fortune 500 employer.

The deal was announced in February. It goes to a vote this week.

Since it was first announced, civic and business leaders in both Boca Raton and Naperville, Illinois, have wondered and worried how this will play out.

Truth be told, what’s not to enjoy in Boca Raton. The climate, quality of life, school – from Kindergarten through post-graduate, employee talent, even the collaborative corporate base, all are remarkably attractive to any employer.

Keeping Office Depot would mean keeping up to 1,700 jobs. More importantly, though, is the role the company has played as a civic and community leader. The company has supported local causes, especially education, giving money and product to teachers, students and families alike.

Yet, there’s a lesson to be learned for any community hoping to land such a corporate leader. According to a recent Sun-Sentinel story, the development of Office Depot’s new corporate headquarters came with an incentives package designed to keep the company in South Florida.

Office Depot was given almost $5 million in local and state incentives when it built its new headquarters in Boca Raton in 2008. From state money to tax reimbursements to job creation credits, cities often can be looked to by large employers hoping to stay or relocate to a local market.

More important, though, is the role the company would continue to play if it remained. Office Depot has been a titan of the local community.

Keeping the company – and luring the employee ranks of Office Max – would only enhance the economic, civic and cultural fabric of Boca Raton and South Florida.