STATE TO GIVE OFFICE DEPOT $2-MM FOR OFF-SITE ROADWAY IMPROVEMENTS

In 2008, Office Depot expects to occupy new headquarters at Arvida Park of Commerce in Boca Raton. The State of Florida Office of Tourism, Trade, and Economic Development will provide the $2-MM reimbursement for off-site roadway improvements for the 625,000 sq ft complex which will accommodate 2500 Office Depot associates. There will be three vertical, interconnected, 5-story buildings linked by glass-enclosed atriums. A lease agreement was signed in November 2006 with Office Depot to develop the company’s new global headquarters on 28 acres of the 54-acre Flagler/TIAA joint venture site. Mayor Steven Abrams said, “Office Depot is instrumental to the economic engine that is South Florida and I’m pleased that we were able to support their decision to stay in Palm Beach County.” County Commissioner Marty McCarty said, “We know that Office Depot had many options for leaving Palm Beach County and the state of Florida. We’re thrilled they chose to keep their global headquarters here in Florida.”