Northern Kentucky Tri-ED Welcome

Welcome to Thrive, Northern Kentucky Tri-ED's monthly electronic newsletter on Economic Development activities. Thrive will provide you with the latest news and information from Northern Kentucky, located in the Cincinnati Metro area. We are excited about our community, recent business development and new and expanding businesses throughout the region – and we want you to know about Northern Kentucky - Opportunity Central!

More than twenty years ago, public and private sector leaders from Boone, Campbell and Kenton counties decided to cross county lines, join forces as a region and create the "Tri-County Economic Development Corporation,” now known as Northern Kentucky Tri-ED. The organization’s mission is to build a world-class economy in Northern Kentucky through the expansion of existing businesses and the creation and attraction of high quality, primary industry employers.

Since 1987, 476 companies have located or expanded in Northern Kentucky accounting for 46,981 new primary jobs and $4.6 Billion in capital investment. The region is now home to industry leaders like Toyota Motor Engineering & Manufacturing, Fidelity Investments, WILD Flavors, Mazak, Toyota Boshoku America, HBC-radiomatic, LaFarge and many other companies.

Northern Kentucky’s spirit of regional cooperation continues and in March, 2005 civic, business and government leaders launched Vision 2015 – a community led effort to develop a 10-year strategic plan for growth in the region. With the goal of generating 14,300 primary jobs that will lead to 50,000 total jobs in 10 years, Vision 2015 set a high bar for economic development in the region.

Northern Kentucky responded to the challenge and 2,264 primary jobs were added in 2007 with an average wage of $60,922. Policom Corporation, an independent economic research firm specializing in local and state economies - 2008 Economic Development Performance Evaluation.

The momentum in attracting and expanding businesses in the region has continued and a snapshot of some of the new, expanding and start-up operations in Northern Kentucky over the past few months include:

• Fidelity Investments recently celebrated a significant enhancement to its Midwest Regional Campus in Northern Kentucky with the official opening of a new 360,000 square foot LEED-certified office building, its fourth building on campus. Fidelity provides 401(k) fund management services and operates a print mail facility in Northern Kentucky. Since 1987, Fidelity has created more than 4,600 jobs in the region and made capital investments totaling more than $300 million.
• ZF Lenksysteme, the steering technology division of ZF (a 50-50 joint venture between ZF and Robert Bosch Corporation) – announced the expansion of ZF Steering Systems operations in Northern Kentucky. The group will move to a 240,000 square-foot ZF facility in Florence to expand its North American operations and make room for new projects. The move is expected to create an estimated 175 additional jobs. ZF will invest more than $30 million in the facility in upgrades and equipment for upcoming projects.
• The United States Playing Card Company (USPC) announced it will be investing in excess of $30 million over the next two years to establish a new manufacturing, distribution and headquarters campus which will house all current operations and accommodate the company’s future growth. USPC will relocate to a 570,000 square foot facility on 40 acres in Boone County in early 2009; 500 employees will work in the new facility.
• LeanCor, LLC announced the planned addition of 15 jobs, including 14 high-tech jobs, to its current workforce of 20 at its office in Florence. The company expects to more than double its office space to accommodate for the growth of its staff. LeanCor offers training, education, consulting and logistics operations services to companies in their efforts to eliminate organizational waste, drive down costs and increase global competitive advantages.

Vision 2015 calls for entrepreneurship and innovation to be defining qualities of the region.  In 2007, Northern Kentucky Tri-ED integrated the ezone and its mission – to incubate, mentor, align capital and gain exposure for start-up, emerging and existing high-technology businesses.  Northern Kentucky now has one point of service for entrepreneurs as well as new and existing businesses. Since it’s founding in 2001, the ezone has assisted over 130 companies that have brought more than $53 million in investments to Northern Kentucky. Additionally, the organization has assisted clients in achieving 44 awards from state funding sources.

Current economic conditions are affecting businesses nationwide but we are holding steady in Northern Kentucky and will share our recent successes in this inaugural e-newsletter.  You will read about HBC-radiomatic’s decision to build a new facility in Hebron, Ky. and bioLOGIC moving its U.S. headquarters to Covington, Ky. at the foot of the historic John A. Roebling Suspension Bridge. I hope you will find Thrive useful and informative and share it with your colleagues.

Thrive is a new way to show that our community is “Opportunity Central” - a great place to live, work, play and Thrive. We want your business in Northern Kentucky!

Ralph Drees
Kenton County Judge-Executive
Chairman, Northern Kentucky Tri-ED