By Mark Hansel
NKyTribune managing editor
Northern Kentucky Tri-ED today recognized companies that located, expanded or were launched in the Northern Kentucky region in 2017 at the 10th annual Northern Kentucky Thoroughbred Awards.
Dan Tobergte, president and CEO of Tri-ED, talks about the region’s successes in 2017 and what’s ahead this year, at the 2018 Northern Kentucky Thoroughbred Awards at Drees Pavilion Tuesday (photos by Mark Hansel).
The 2017 Tri-ED Annual Report was also released, highlighting the direct, indirect and induced impacts of jobs and investment from 27 primary industry companies and entrepreneurship activity.
“Northern Kentucky had a record-breaking year in 2017 with more capital investment announced than at any other time in our thirty-year history,” said Kenton County Judge-Executive Kris Knochelmann, Tri-ED’s Board Chair. “The extraordinary level of investment was nearly 8 times greater than a typical year for Northern Kentucky, mostly attributed to the Amazon Prime Air hub at CVG announcement in early 2017. Northern Kentucky also enjoyed a 22 percent increase in announced projects for both new and expanding operations across a range of industries.”
The Thoroughbred winners came from a wide range of companies, including traditional businesses, emerging market leaders and entrepreneurs that have all helped fuel the region’s economic success.
The 2018 Kentucky Thoroughbred Award winners.
2018 Thoroughbred Award Winners
AAA Cooper Transportation
ADM
Amazon.com, Inc.
Aristech Surfaces LLC
Beam Dental
Gravity Diagnostics
iReportSource
Krauss-Maffei Corporation
Maxim Crane Works L.P.
Paper Water Bottle
Perfetti Van Melle
RDI Corporation
Resolve Packaging
Road iD
Southwest Airlines
The Kroger Co.
Toyota Boshuku America
Dan Tobergte, president and CEO of Tri-ED said the Commonwealth of Kentucky experienced a record-breaking year in 2017, with more than $9.2 billion in announced new capital investment by primary industries.
“Northern Kentucky contributed significantly to this state effort with 19 percent of the total capital investment from just 9 percent of Kentucky’s population, Tobergte said. “Our region had a balanced portfolio of expansions and new market entries in 2017. In the coming year, these announcements will begin to be realized, resulting in strong, sustained investment in Northern Kentucky.
With the federal tax law changes enhancing the business attractiveness of the U.S. and continued pro-business support from the Commonwealth and Northern Kentucky’s communities, our future is quite bright.”
The total economic impact on the Cincinnati MSA of an additional 7,649 jobs from Northern Kentucky’s 2017 announcements is the highest recorded in the last ten years and is 98 percent higher than the average over the last ten years since Tri-ED began coordinating the NKY Thoroughbreds event.
Terry Gill, Secretary of the Kentucky Cabinet for Economic Development was the event’s keynote speaker. He said despite, or maybe because of, the state’s economic prosperity, developing and maintaining a qualified workforce continues to be a challenge.
“Quite honestly, if you look at it across the country, I think every state will tell you they have a workforce challenge,” Gill said. “Part of what we are doing is understanding how do we continue to sort of lead the nation through our workforce initiative? We spent $100 million last year in the WorkReady Schools Initiative.”
*Indirect and induced effects were developed by Tri-ED using JobsEQ, economic modeling software by Chmura Economics & Analytics (click to enlarge).
Gov. Matt Bevin sent a video message praising the Thoroughbred Award winners and the Northern Kentucky business community for its contribution to the state’s economic success.
“In Northern Kentucky, if you are elected as a Thoroughbred, from the economic community, that is a heck of an accomplishment,” Bevin said. It’s such a vibrant part of this state’s economy, such a growing and booming and entrepreneurial part of Kentucky, and frankly of America. It’s a tremendous honor to those of you who have just been acknowledged as the winners.”
Contact Mark Hansel at mark.hansel@nkytrib.com
