Northern Kentucky Tri-ED announced that in 2016, 25 primary industry companies expanded, located to, invested in or announced new jobs in the Boone, Campbell and Kenton County region, resulting in 1,682 projected new direct primary industry jobs and more than $327 million in capital investment.
Tri-ED will honor those companies that located to, expanded or launched in the region in 2016 at its annual recognition event, the Northern Kentucky Thoroughbred Awards, being held January 24 at the Drees Pavilion in Devou Park.
“We’re excited to see the continued strength and diversity of the companies that choose to locate or expand in Northern Kentucky,” said Campbell County Judge Executive Steve Pendery, Tri-ED Board Chair. “The average salary of the primary industry jobs created last year is more than $58,000 – well above the regional average of $43,000 and an indication that we are attracting industry leaders.”
Collectively, the 25 companies that announced projects in 2016 are anticipated to add more than $98 million in payroll, which directly increases city and county revenues through local Occupational License Fees.
Tri-ED, which was incorporated as the first regional economic development entity in Kentucky in 1987, celebrates 30 years of industry and job growth in 2017. Since 1987, more than 645 primary industry projects have located or expanded within Northern Kentucky, creating more than 55,600 jobs and investing more than $7.6 billion. In 2016, primary industry companies expanding in or locating to Northern Kentucky included advanced manufacturing, pharmaceuticals, aerospace, and professional services such as life sciences, cybersecurity, and financial and banking operations.
In addition to attracting and expanding primary industry, Tri-ED also has a significant focus on the creation of new jobs through start-up companies. In recognition of these efforts, Tri-ED was awarded both Gold and Silver International Economic Development Council (IEDC) awards for entrepreneurship. The Northern Kentucky Office of the Kentucky Innovation Network, a division of Tri-ED, was awarded Gold for its efforts in the creation of the Kentucky Angel Tax Credit. UpTech was awarded the Silver award for its business accelerator, which is now in its fifth cohort.
“We are pleased that the numbers bear out the success stories happening in Northern Kentucky,” said Dan Tobergte, president and CEO of Tri-ED. “With only about 18 percent of Greater Cincinnati’s population, Northern Kentucky represented nearly 26 percent of all new jobs created regionally in 2016. We feel confident that we can continue to attract and grow the primary industry base of Northern Kentucky, bringing high-quality jobs and investment to our communities.”