Palm Coast
May 1, 2007 12:00 PM, Elaine Misonzhnik
Seeing as Palm Coast, Fla., didn't even exist until seven years ago, you can be excused if you've never heard of it. But you should remember the name.
Palm Coast, just a short drive from Jacksonville, owns the distinction of being the fastest-growing town in the United States and is a big reason why Flagler County, where it's located, is the fastest-growing county. Since 2000, the city's population has doubled from 32,732 to about 60,000 today.
Beaches and golf courses lure in retirees looking for a relaxed lifestyle (Palm Coast got its start as a retirement community in the 1970s, before the residents decided to form a municipality in 1999). And its proximity to several prestigious colleges, including schools Embry-Riddle University and Stetson, has proved a draw for well-to-do families.
Because Palm Coast is so young, however, it's barely drawn any attention from commercial developers — until very recently. “The folks who came here were used to a mature community, but we didn't have any malls or places to go out to dinner,” says Ira Corliss, economic development coordinator for the town. A few big boxes have now arrived, though. Wal-Mart set up shop first (naturally) and now Lowe's has come. Target will also be opening a store there soon. But a few big boxes won't be enough to sate demand, especially since the population is expected to continue to blossom.
Palm Coast officials say they are in talks with several developers about the possibility of a mall and the town would also like to see a lifestyle center in the area. But these would be no run-of-the-mill shopping venues. Corliss says that Palm Coast is really in need of upscale retailers, like Louis Vuitton, Tiffany's and Saks Fifth Avenue. “There is a lot of quiet money here and there is nothing east of us and nothing west of us that would serve that need,” he notes.
Aside from retail, the town is determined to keep growing its infrastructure. There are plans to bring in a research park and a new continuing care retirement community. Among the town's main business targets are mid-market technology firms. Currently, the biggest local employer is Palm Coast Data, a product fulfillment supplier for the publishing industry.
