At its fifth Annual Meeting this week, leaders from the Regional Economic Development Initiative (REDI) Cincinnati celebrated key organizational and economic achievements, while leaders offered a glimpse of things to come in Greater Cincinnati.
Lauterbach
REDI Cincinnati President and CEO Kimm Lauterbach opened the ceremony by presenting 2018 year-end metrics for companies bringing jobs and capital investment to the three-state, 16-county region.
2018 Year-End Metrics (Southwest Ohio, Northern Kentucky, Southeast Indiana)
*6,640 New Jobs Created
*$333.6MM New Payroll Created
*$1.38B New Capital Investment
Lauterbach also highlighted the economic impact of those projects REDI Cincinnati worked with directly in Southwest Ohio from 2014-2018.
5-Year Impact (Southwest OH)
*139,345 New and Retained Jobs
*$8.2B New Payroll
*$17.8B Gross Domestic Product
*$31.5B Economic Output
In 2014, REDI Cincinnati was formed as a collaboration among top business leaders to drive job growth in the Greater Cincinnati region. Those efforts have resulted in numerous accolades for the region and REDI Cincinnati.
Most recently, Greater Cincinnati received the Site Selection Magazine Governor’s Cup Award as a Top 10 U.S. Metro Area (pop. 1M plus), advancing in the rankings this year from #6 to #5 nationwide.
Lauterbach said the organization will focus more than ever to include investments in people, partnerships, and technology to pinpoint and attract viable companies considering location or expansion.
“By no means are we resting on our laurels,” said Lauterbach, previewing the economic landscape ahead. “We’re going to continue finding new ways to embrace our unique three-state identity, forging connections in our business community, and serving as a diligent partner to those groups that are growing our regional talent base and developing our sites.”
The meeting was emceed by WLWT newscaster Colin Mayfield, who recognized outgoing REDI Cincinnati executive committee members Kay Geiger, Steve Hightower, Sue McPartlin, Julie Hopkins, and Aaron Pitts.
The Annual Meeting also served as an opportunity to recognize the companies and projects that made significant economic impact in Greater Cincinnati in 2018. The recipients of this year’s James A. Wuenker Growth Awards were:
* 80 Acres Farms | 46 new jobs | $37.5M capital investment
* Ensemble Health Partners | 1,000 new jobs | $47M new payroll | $20M building renovation
* Festo Corporation | 250 new jobs | $60M new real estate investment | 240,000-sf expansion
* L3 Technologies
* Magna Machine Company | 20 new jobs | 125 retained jobs | $3.7M capital investment
David O. Smith (center) received the Wm. T. (Bill) Robinson III Upward & Onward! Award at Thursday’s event (provided photos).
Native Cincinnatian and influential economic developer David O. Smith was this year’s recipient of the Wm. T. (Bill) Robinson III Upward & Onward! Award.
The award is named in honor of the late attorney William T. Robinson, whose contributions to economic development throughout the last four decades as one of the region’s most respected business leaders continues to drive the Greater Cincinnati business community today.
As this year’s award recipient, Smith is recognized for his work in several state-appointed roles and his work as Director of Economic Development for Duke Energy Ohio and Kentucky. Smith developed economic programs that helped Mitsubishi Electric, Advics, Festo, and other companies grow their local presence. He also co-founded the Ohio Development Financing Advisory Council.
“To even be mentioned in the same sentence as Bill Robinson is truly humbling,” said Smith. “I’d like to thank the REDI board and staff. I’m very honored and certainly appreciate this meaningful award.”
The evening ended with a word from REDI Cincinnati executive committee vice-chair David Spaulding (Turner Construction) and a toast from Kimm Lauterbach and Board Chair Brian Hodgett (Procter & Gamble).
“The level of engagement and collaboration in our business community is what sets us apart, and it’s the backbone of REDI Cincinnati’s mission-based work,” said Hodgett.
The Regional Economic Development Initiative (REDI) Cincinnati is a point-of-contact for companies locating or growing in the 16-county region at the heart of Southwest Ohio, Northern Kentucky and Southeast Indiana.
REDI Cincinnati is supported by top business leaders and community partners, and staffed by a team of economic development experts who are uniting the Greater Cincinnati region to compete globally.
REDI Cincinnati
