P
alm Beach County Mayor Maria Sachs welcomed Vanderbilt University's proposed $520 million graduate school campus in West Palm Beach with a unanimous approval from the county commission. The vote also included the gifting of 5 acres of county-owned land valued at $46 million to the Nashville-based university. A development and conveyance agreement (DCA) was approved, outlining project parameters, including securing permits within four years, starting construction within five years, and spending $300 million in capital expenditures.

    The DCA also requires Vanderbilt to create 4,500 construction jobs and have 200 full-time employees, 900 students in degree-granting programs, and a $70 million annual operating budget within five years of opening. The county mandated that Vanderbilt spend $1 billion connected to the graduate school campus within five years.

    The approval marks the culmination of six months of efforts to bring Vanderbilt to West Palm Beach. Local leaders, including billionaire developer Steve Ross, spoke in favor of the proposal, citing its potential to transform the county into a hub for business and technology like Silicon Valley. Proponents emphasized the need to nurture the talent pipeline and invest in brain power to attract major companies.

    West Palm Beach Mayor Keith James echoed this sentiment, calling Vanderbilt's presence a "transformational opportunity." The city had previously agreed to donate $12.8 million of city-owned parcels to the project. Business Development Board President Kelly Smallridge connected Vanderbilt with a major company looking to relocate 2,000 jobs to the county, citing education as the currency of economic development.