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CINCINNATI
NORTHERN KENTUCKY
RECORD BREAKING 2017
Message from the ChairAt the outset of 2017, Northern Kentucky benefited from two major announcements:
Right-to-Work became law by the KY General Assembly with strong support by Gov. Bevin and long-standing support by Tri-ED and the NKY Chamber; and
Amazon Prime Air announced a massive $1.49 billion Air Cargo Hub at the Cincinnati/Northern Kentucky International Airport (CVG) with 2,700+ new jobs, the largest capital investment announcement in Northern Kentucky’s history.
Project activity following these announcements was strong–Tri-ED worked more than 90 projects in 2017–ending the year with 27 won projects, $1.75 billion in announced capital investment and 4,000+ new jobs.
For 2018, we plan to engage with community partners in a collaborative ‘cradle-to-careers’ Talent Strategy model to address work-readiness across all ages, education and skill levels. Tri-ED is also focusing on available, site-ready properties suitable for the industries of tomorrow and we are piloting a Local Economic Development Services initiative with Kenton County. We will continue to retain and grow our 550+ existing industry firms, launch new companies through entrepreneurship, and market the region domestically and internationally for targeted industries.
Current and past Board members/staff gathered in September to celebrate Tri-ED’s 30 year anniversary as the first regional economic development entity in Kentucky. We partnered with the NKY Chamber to bestow the inaugural “Wm. T. (Bill) Robinson III Economic Development Award” to Bill from his passing in May. This award will be a lasting vestige of honor to Bill’s legacy as a co-founding member and his 30 years of Tri-ED board service that helped propel Northern Kentucky forward with economic vibrancy through his spirit of volunteerism and community service.
Economic development is essentially a “team sport” and we thank our community and corporate partners for the collaborative spirit that embodies Northern Kentucky! We look forward to 2018 ready to break more records and make our region even more competitive, vibrant and ready for the future.
Kris Knochelmann Chair, Northern Kentucky Tri-ED Judge-Executive, Kenton County
TARGET INDUSTRIES
NORTHERN KENTUCKY
BooneCounty
KentonCounty
CampbellCounty
Cincinnati
Ohio River
We are pleased to present Northern Kentucky Tri-ED’s
2017 ANNUAL REPORT Since 1987, MORE THAN 670 primary industry projects have located to or expanded in Northern Kentucky, CREATING 67,000+ NEW JOBS and investing MORE THAN $8.4 BILLION.
Aerospace & Aviation
Manufacturing
Financial Services
Life Sciences
Automotive Manufacturing
Food & Flavor
Logistics Technology
Northern Kentucky Tri-ED’s
MissionBuild a world-class economy in Northern Kentucky through the expansion of existing businesses, and the creation and attraction of high quality, primary industry employers.
Leadership & GovernanceTri-ED, under the auspices of the fiscal courts in Boone, Campbell and Kenton counties, is governed by a board of directors.
NORTHERN KENTUCKY TRI-ED BOARD OF DIRECTORS
Boone County Gary W. Moore, Chair-Elect, Judge-Executive Aaron Bludworth – Secretary, fern John H. Hawkins, Pathfinder – MPI Consulting Charles L. Session Jr., Duke Energy
Campbell County Steve Pendery, Immediate Past Chair, Judge-Executive Kimberly Halbauer – Treasurer, Fifth Third Bank John Hengelbrok, The W.J. Baker Company
Kenton County Kris Knochelmann, Chair, Judge-Executive James A. Dressman III, DBL Law Karen Finan, Northern Kentucky Regional Alliance Shad M. Sletto, EGC Construction Corporation
Northern Kentucky Regional Alliance Andrew Hawking, BB&T Bank
Northern Kentucky Chamber of Commerce Robert A. Heil, KLH Engineers, Inc. Rhonda Whitaker, Duke Energy
Tri-County Economic Development Foundation Jane Garvey, Cincinnati Children’s Hospital Medical Center
Ex-Officio Members of the Board of Directors David A. Armstrong, Thomas More College Brent Cooper, NKY Chamber of Commerce Dr. Fernando Figueroa, Gateway Community & Technical College Candace S. McGraw, Cincinnati/Northern Kentucky International Airport Jack Moreland, Southbank Partners Johnna Reeder, REDI Cincinnati Jeanne Schroer, The Catalytic Development Funding Corp. of Northern Kentucky Gerry St. Amand, Northern Kentucky University
Photo credit: Tine Hofmann
NORTHERN KENTUCKY TRI-EF BOARD OF DIRECTORS Jane Garvey – Chair, Cincinnati Children’s Hospital Medical Center Thomas A. Prewitt, Chair-Elect, Graydon Adam M. Davey – Treasurer, VonLehman CPA & Advisory Firm Sarah Giolando – Secretary, St. Elizabeth Healthcare Chris S. Bell, PNC Bank Richard Colvin, Strauss Troy Michael F. Hall, Citi Julie K. Hopkins, Ashland Dan Kruse, Mazak Mark Palazzo, Huntington National Bank Kevin P. Whelan, Opus Capital Management
TRI-ED STAFF Daniel E. Tobergte, President & CEO Casey Barach, SVP, High Growth Entrepreneurship Director, KY Innovation Network at NKY Wade Williams, SVP, Business Development JB Woodruff, Commercialization Director/UpTech Program DirectorPatricia Wingo, Local Economic Development Services, Kenton County Kate Ferrer, Director, Marketing & Research Jamie Nieves, Manager, Business Retention & Expansion Katherine Brun, Business Development Specialist Victoria Hafele, Economic Development Specialist Mary Hollon, Sr. Office Manager Sheryl Stolze, Assistant for Entrepreneurship
300 Buttermilk Pike, Suite 332 Ft. Mitchell, KY 41017 888-874-3365 | www.northernkentuckyusa.com
@NKYTriEDNorthern Kentucky Tri-ED Northern Kentucky Tri-ED
ADVANCING INDUSTRIES IN NORTHERN KENTUCKY
MAKING AN IMPACT
2017 Project and Investment Highlights
* Disclaimer: Projected direct effects are reported for Boone, Campbell and Kenton counties. Indirect and induced effects are reported for the Cincinnati MSA. Sources: Northern Kentucky Tri-ED, JobsEQ.
27
4,085
New & Expanding Projects
New Direct Jobs3,564+ NEW INDIRECT/ INDUCED JOBS
$1.75B
$163M
New Capital InvestmentRECORD BREAKING INVESTMENT YEAR
New Direct Labor IncomePROJECTED AVERAGE SALARY: $40,000
EntrepreneurshipRegional entrepreneurial collaboration offers companies resources that they need to start, grow and add jobs, including access to capital, mentoring, networking and structured programming for growing start-ups. Northern Kentucky is home to:
Innovation Network @ The Warehouse: NKY’s Entrepreneurship Hub
UpTech: Named one of the nation’s top 30 accelerators
Aviatra: Female focused accelerator program
bioLOGIC: A life sciences accelerator
iNKUbator: Top university accelerator at NKU
CONNETIC, NKY Growth, UpTech Funds: Seed investment funds
Workforce Development In 2017, Tri-ED continued to evolve our workforce development strategy, a collaborative community-wide cradle-to-careers initiative that will revolutionize workforce development implementation in Northern Kentucky. Workforce initiatives continue to grow with enhanced recruiting elements through NKY FAME, NAVIGO and increased interest in apprenticeship programs throughout the region. Improvements to other regional programs, such as Gateway’s Enhanced Operator program, were completed to ensure better alignment to employer needs.
HIGHLIGHTS:
National FAME USA
Conference hosted in NKY
2,200people reached through
recruitment events
$100,000 Teacher Externship Grant
received for NKU / NKY FAME partnership
Marketing & AttractionNorthern Kentucky Tri-ED’s marketing strategies fuel growth through the recruitment of new industries. Marketing efforts include site visits, trade shows, conferences and face-to-face meetings with the nation’s top site selectors. Tri-ED works closely with allied organizations like the Kentucky Cabinet for Economic Development and REDI Cincinnati to generate leads and attract business to Northern Kentucky.
Real EstateIn 2017, Tri-ED worked with regional partners to identify and address real estate challenges and opportunities that will impact our regional ability to retain and attract companies. In partnership with the NKY Chamber of Commerce and the Building Industry Association of NKY, Tri-ED released a white paper on the impact of rising streams and wetlands mitigation costs that fostered tangible results. In 2018, Tri-ED will pursue a study on industrial and office corridor opportunities across the three counties.
120,000 parcels analyzed in GIS
First aerial drone marketing video launched
Northern Kentucky Stream and Restoration Program announced a 36% reduction in mitigation costs
Northern Kentucky O�ice
Innovation Network @ NKY
EVENT HIGHLIGHTSMay 2017 – IdeaFestival: The WriterPreneur
October 2017 – 5th Annual UPSTART, the entrepreneurship street party
November 2017 – Global Entrepreneurship Week
STATS64+ clients served by NKY Innovation Network office
161 jobs created by clients of NKY Innovation Network office
$31M+ in investments infused into Network clients
UPTECH 5 HIGHLIGHTS: Cohorts raised $2MM in
follow-on funding
The Monetizr joined top-accelerator program, Techstars, in Atlanta
Papr joined the Vatican’s first accelerator class in the Laudato Si Startup Challenge program
UPTECH FUNDS PORTFOLIO 47 client companies
218+ jobs created
$2M+ in investments infused into UpTech Clients
$5.6MM in external investment into the UpTech startups
UpTech
Local Economic Development Services, Kenton CountyEstablished in April 2017, this pilot program provides Kenton County cities with expanded local economic development services, including an initial assessment of the local business environment, housing and community development needs. Additionally, assistance with specific project work is provided to each of the cities as requested.
ABB/CON-CISE Optical Group LLC
Amazon Prime Air
Archer Daniels Midland Company
Beam Dental
Gravity Diagnostics
iReportSource
iServe Products, Inc.
Krauss-Maffei Corporation
Kroger Co.
Maxim Crane Works, LP
M-I LLC
Paper Water Bottle
Perfetti van Melle USA Inc.
RDI Corp.
Resolve Packaging, LLC
Road ID, Inc.
SFC Global Supply Chain, Inc.
Toyota Boshoku America
Whitehall Inc.
Business Retention & ExpansionIn 2017, Northern Kentucky Tri-ED’s Business Retention and Expansion (BR&E) program launched several new initiatives including target-industry focus groups, a Smart Breakfast series and an annual survey of existing companies. In combination with our 75+ face-to-face company visits, these efforts reached more than 140 companies — employing over 20,000 people — and captured data on their opportunities, challenges and industry trends. Of companies surveyed:
75% are growing
80% are hiring
61% have capital investment plans over the next 3 years
50% cite workforce as largest barrier to growth
BR&E events reached 250+ company leaders
3 Focus Groups IT Focus Group Food Processing & Manufacturing Focus Group Richwood Industrial Park Focus Group
2 Smart Breakfast Series Industry 4.0 Robotics / Automation
2 C-Suite Events Reds Game
FC Cincinnati Game
18 expansion project leads coded in 2017
16 TRIPS 12 STATES
2 COUNTRIES
100+ CONSULTANTS
REACHED
92+ PROJECTS CODED IN
2017
GOAL Develop strategies
for enhancing development and
redevelopment efforts in
Kenton County cities
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