Marine Industry Leadership and Economic Development in Martin County
Owner of Oceanwide Electronics in Stuart, Lauren Abbott is the new president of the Business Development Board of Martin County. Her company specializes in high-end marine electronic equipment for both commercial and recreational boat owners.
A former middle-school teacher and foster parent, Lauren holds multiple master’s degrees and has served on various local boards. She is actively engaged in the community, involved in several local and national organizations, and strongly believes in giving back to the region that has supported her personally and professionally. She shared with us the ways she plans to help advance the BDBMC’s mission of strengthening the local economy.
What are the top three things you hope to accomplish as president of the BDB?
In no particular order, first strengthening relationships that we’ve already built within business community. It is vital that we continue reconnecting, maintaining strong partnerships, and continue to service the existing business community.
Second, I want to focus on our Hubs of Excellence—our legacy industries– and explore how we can further facilitate growth and support within those sectors.
Third, I want to increase awareness throughout the community as well as potential investors interested in business expansion opportunities. Ultimately, it comes down to engagement, education, and collaboration so people can truly understand the benefits of what the BDB and our regional partners provide, along with the resources that are available to all.
What have you learned while serving on the BDBMC’s board of directors thus far that really stands out?
As a business owner, it’s easy to become focused solely on your own business and the day-to-day operations. Serving on the board has given me firsthand experience with how strong and supportive the broader business community truly is—it’s been incredible to see. Through the meetings, and especially the Pulse visits, I realized how much valuable information and insight was available. It has expanded my understanding well beyond my own business and current capacity and has a positive impact on my business. The knowledge and perspective I’ve gained have been undeniably beneficial, not only as a business owner, but also as a member of the community.
How does your experience working in and serving the marine industry complement your role at the BDB?
The marine industry is one of the BDB’s “Hubs of Excellence;” and my service on the board of the Marine Industries of the Treasure Coast helped prepare me for this role.
Our industry has endured a lot—from the ups and downs of COVID, to the impacts of tariffs, to shifting economic conditions, to the challenges associated with the Stuart rail bridge and how it can directly impact critical elements of our industry. Working in the marine industry has reinforced that there will always be factors outside our control that can negatively affect our businesses. I have learned how important it is to adapt and pivot. In many ways, it’s not unlike a day on the water — when conditions change, one must adjust accordingly. Through organizations like the BDB and MIATC, I have learned where and how we can work together to create greater influence, advocate effectively, prepare for market shifts and support long-term industry success.
What do you think are the strongest facets of our economy now that you’ve gotten to know it better?
The diversity of the economy is amazing. Many people have no idea about the variety of innovations and manufacturing that exists here. While the boating industry and housing market are well known, far fewer are aware of the manufacturers, advanced businesses, and corporate headquarters located within the county. There is a surprising depth of capability and expertise already here. In many ways, there is less need to look outside the county than people may think—the resources and companies we have are extremely impressive. That’s exactly what the BDB helps bring to light.
Is there something in particular about your leadership style that you’d like to share with others?
I will do anything I can to help make this organization even better because I’m deeply appreciative of the value it provides. To me, it’s an investment in the working people, the innovators, the entrepreneurs who drive our economy forward. Time is the most valuable non-renewable resource that we have, and the BDB—at its best—helps the community, residents, and businesses save both time and money through connection, coordination, and efficiency.
