In a week in which a national publication presented its Governor’s Cup trophy to Kentucky Gov. Steve Beshear in recognition of the state’s top ranking for new and expanded industry, Northern Kentucky’s Tri-County Economic Development Corporation (Tri-ED) announced great news about the region’s role in contributing to that distinction.
Tri-ED released results showing that, in 2014, 23 companies announced new locations or expansions in the Boone, Campbell and Kenton County and that 2,087 new direct jobs are projected as a result of these investments.
Tri-ED will honor those companies at its annual recognition event, the Northern Kentucky Thoroughbreds, which was rescheduled to April 13 at the NKU METS Center because of the weather.
“2014 was a very good year with 23 companies expanding or locating in Boone, Campbell and Kenton counties, which significantly contributed to the Governor’s Cup awarded to Kentucky’s Governor Steve Beshear on Tuesday by Site Selection magazine,” said Kris Knochelmann, Kenton County Judge-Executive and Tri-ED Chairman.
“It was a very strong year in terms of jobs announced with increases over 2013. In 2014, 2,087 direct jobs were announced resulting in 1,158 indirect or induced jobs for a total impact of 3,245 new jobs for the Northern Kentucky region, a 42 percent increase over 2013.”
On average, Tri-ED attracts or facilitates the expansion of 22 companies in the three-county region each year. In 2014, 23 primary industry companies announced expansions involving eight new market entries and 15 existing companies.
Mark Arend, Site Selection magazine editor, presented the Governor’s Cup trophy to Governor Steve Beshear this week, recognizing Kentucky in first place for new and expanded industry activity per capita in 2014.
Site Selection also recognizes top metropolitan and micropolitan areas for their economic development successes. The Cincinnati/Northern Kentucky MSA ranked third on the 2014 Top 10 Metro Areas Ranking.
Boone County ranked third for job growth per capita in 2014, according to the Kentucky Cabinet for Economic Development.
“Northern Kentucky Tri-ED facilitated significant growth in several of our target industry sectors, such as advanced manufacturing, ecommerce and technology, as well as informatics-based startups,” said Dan Tobergte, President and CEO of NKY Tri-ED.
“We’re focused on creating a thriving entrepreneurial ecosystem while also attracting companies and operations to Northern Kentucky, to keep our top talent in the region and expand our global economy. The good news of 2014 is somewhat tempered by the announcement in April, 2014 by Toyota Engineering & Manufacturing to relocate approximately 1,600 jobs out of the region effective in late 2016.”
E-commerce/logistics and advanced manufacturing joined the technology sector in leading job creation and investment in Northern Kentucky in 2014.
“Northern Kentucky Tri-ED is joining our higher education and company partners to focus on developing and keeping a talented and skilled workforce in our region,” added Tobergte.
The Advanced Manufacturing Workforce Development Coalition and the Northern Kentucky Chapter of Kentucky FAME (Federation for Advanced Manufacturing Education) were formed in 2014 to help enhance the talent supply chain for manufacturers in Northern Kentucky.
The annual economic impact study of primary industry growth for 2014 conducted by Northern Kentucky University’s Center for Economic Analysis and Development (CEAD) shows total impact of the 23 projects as follows:
Twenty-three companies announced or received preliminary approvals for new locations or expansions in Northern Kentucky in 2014:
About Northern Kentucky Tri-ED:
Founded in 1987, the Northern Kentucky Tri-County Economic Development Corporation (Tri-ED) serves as the primary economic development marketing agency for Boone, Campbell and Kenton counties in Northern Kentucky. Since 1987, 600 companies have located or expanded in Northern Kentucky accounting for the creation of 51,600 new primary jobs for a total of 120,800 jobs created. These jobs have generated an economic impact of $25B. New and expanding companies have accounted for $6.9B in capital investment. Tri-ED is a key partner in Vision 2015, a 10-year strategic plan for growth in the region. For more information, visitwww.NorthernKentuckyusa.com.
