Spark pluggers

Business Development Board revs the county’s economic engine 

BY DONNA CRARY

William Corbin, the executive director of the Business Development Board, is dedicated to boosting the local economy by supporting businesses, attracting investment and creating jobs. FRED KIRKHART

In Martin County, economic growth doesn’t just happen. It is the product of strategic planning, coordinated effort and a commitment to preserving the area’s natural beauty. Carrying out that responsibility is the Business Development Board of Martin County, the county’s official economic development partner. Established in 1991, its mission is to champion and strengthen the local economy by supporting local businesses, attracting investment and creating jobs.

William Corbin, the board’s economic director for the past year, views it as a vital resource steering the county’s economic growth. “Basically, I am a cheerleader for the business community,” he said. “The BDB helps businesses and entrepreneurs connect with resources to help their business grow and succeed.”

As a certified economic developer, Corbin has helped spark hundreds of millions of dollars in diverse commercial projects and investments across several municipalities — recently in the greater Atlanta area, including the cities of Duluth and Norcross, as well as Clayton County. Years before, he was a manager at the Office of Research and Strategic Planning at the Beacon Council, helping recruit, retain, and expand businesses in Miami-Dade County. 

Corbin and his family returned to South Florida to live closer to relatives in Palm Beach County. He said settling in Martin County has proved to be the right fit. “It’s a great place to raise a family,” he said. “The educational system, the quality of life, and the quality of place are really wonderful. There’s a nice diversity of business and industry, too — with well- paying jobs. So I think you’ve got the best of both worlds: something you don’t find in every region.”

THE PULSE OF BUSINESS 

Corbin and his team engage with local businesses, providing strategic guidance through the Pulse Program and a range of business development workshops. BUSINESS DEVELOPMENT BOARD OF MARTIN COUNTY

Business retention and expansion is a top priority for the board. According to the International Economic Development Council, 80% of net new local growth stems from existing businesses. Corbin said this statistic underscores the vital role of supporting local industry, and why the board devotes most of its efforts to helping them succeed.

To that end, they launched the Pulse Program to connect its leaders with executives of contributory businesses: companies that earn more than half of their revenue from outside the local area. These meetings help the board to better understand each business’ needs and overcome its challenges. The Pulse Program offers targeted support, such as site selection assistance, customized market research and access to capital, as well as provides introductions to key partners and resources.

“Our Pulse Program checks on the health or pulse of a company,” Corbin explained. “So we actively engage with companies in our main industries: aviation, marine and manufacturing. And we talk to them about, ‘How are things going, good, bad, or otherwise? What are the trends in the industry? Are there any challenges that you’re seeing in your industry that we need to know about or help you with?‘ We can help connect them with the resources to help them fill their gaps, whether it be technical assistance or access to financial capital.”

Corbin noted that the follow-up from these initial meetings is significant. Sometimes an expansion project comes when the board discovers that the company is growing and needs help locating a bigger space or property. Such was the case with Hinckley Yacht Services, a historic marine company in Stuart that was looking to expand and bolster its services. In July, it opened a 43,000 square-foot, state-of-the-art facility with premier storage for luxury yachts.

“We helped them through that process of meeting with the county, the application process — and we helped push that along,” Corbin said. “When you’re doing a big project, that has to be a consideration. Sometimes there are communication mixups or sometimes there’s something that needs to be expedited.”

The Business Development Board has also partnered with Daher, a French aerospace manufacturer based at Witham Field in Stuart, where it employs 700 people. According to Corbin, the company plans to establish a second production line in Stuart for its high-speed TBM 960 and rugged Kodiak aircraft. 

“The TBM 960 is called the sports car of the skies,” Corbin said. “They’re bringing that whole line of manufacturing to Stuart. It’s a $30 million dollar project. We’ve helped them along with that process in terms of introducing them to potential financing options. We’ve also been helping them plug into our local workforce development space.”

CORE SERVICES

Visits through the Pulse Program sparked the creation of a manufacturers’ roundtable, a forum for industry leaders to openly discuss their concerns. In those meetings, they discovered that businesses holding Department of Defense contracts must comply with the Cybersecurity Maturity Model Certification. 

“This is a compliance effort that attempts to curb bad actors from hacking,” Corbin explained. “The cybersecurity compliance is very laborious, and most companies need to employ a consultant to help comply with the strict procedures and protocols. And for some of our companies, which are smaller, that’s an expense that could bankrupt them. So we are helping by working with FloridaMakes as well as Cyber Florida to develop a Cybersecurity Maturity Model Certification loan program, whereby companies can utilize funding to help cover the cost.” 

Another core service the board provides is business attraction and relocation support. The organization targets industries that offer high-skilled and higher-wage opportunities, particularly in aerospace and aviation, manufacturing, marine, clean tech, agribusiness, life sciences, IT/innovation, MedTech and healthcare. 

According to Corbin, the board played a key role in attracting Grind Hard Ammo, a $90 million dollar capital investment to Stuart and Indiantown, where the company manufactures ammunition. IM Group, an Italian textile company, now has its North America headquarters in Jensen Beach. Power Systems Manufacturing, a company based in Jupiter, has also recently expanded its business to Martin County. 

“A manufacturer of gas turbines, they are launching a new aerospace division, which will occupy 185,000 square feet at South Florida Gateway in Stuart, bringing 101 new high-wage jobs and over $17 million dollars in capital investment,” Corbin said. “We brought all the resources together and gathered everyone at the table. We helped make the case that Martin County is the best place to expand your business. They’re currently building out and looking to open in the fall.”

Hinckley Yacht executives Gavin McClintock, Peter Clark, and Geoff Berger join William Corbin in celebrating the groundbreaking of the company’s new state-of-the-art yacht facility in Stuart. BUSINESS DEVELOPMENT BOARD OF MARTIN COUNTY

RESOURCES FOR RESILIENCE 

Through its outreach, the Business Development Board has launched a variety of programs designed to assist local businesses. Among them, its Access to Capital Workshop walks businesses through the many ways to secure funding, from loans for small startups to financing for major projects.

Another workshop, Horizons: What’s Next for Local Real Estate, The Economy and Martin County’s Future, gives expert-led sessions and panel discussions that address available property inventory, land use and zoning policies, infrastructure planning and site-market readiness. Corbin explained that the Business Resilience Workshop helps businesses prepare for potential disasters and significant business interruptions. 

“We discuss hardening your business, your business resiliency — like your IT and security infrastructure,” he said. “How do you get your insurance in order for hurricane season? What does your supply chain look like? How do you prepare from a business perspective, a resiliency perspective?”

Additionally, the BDB helps local businesses tap into resources such as the Foreign Trade Zone, which offers companies involved in international trade the ability to delay paying tariffs and reduce their costs.

While rooted in Martin County, the Business Development Board is anticipating teaming up with other economic groups on the Treasure Coast to support growth across the region. Corbin said he’s looking to explore partnerships with the St. Lucie Economic Development Council, particularly in areas of workforce development and talent retention.

Away from the office, Corbin treasures time spent with his wife and three children. “I’m a big fan of making memories — travel and food,” he said. A sports enthusiast, he especially enjoys following professional baseball and acknowledges that he’s a big Braves fan. 

As he reflects on his job, Corbin said his greatest satisfaction comes from helping to build an economy that benefits individuals and families along the Treasure Coast. 

“When I have a speaking engagement, I make a presentation,” he said. “My third slide is a picture of my family. And I talk a lot about tax revenue, building the tax base and why that’s good. When you have a healthy local economy, you’re generating additional tax revenue. Our county can put those resources back into the community in forms of roads, parks and services. But at the end of the day, why do we do this? We are helping individuals and families reach their goals and put food on the table — and live a better life.”