DHL is adding 300 employees as it expands at CVG, and has been hosting job fairs to meet workforce demand. Construction of the company's 193,000-square-foot addition should be complete by early November. DHL will have invested $105 million in its CVG hub since 2009 and will employ about 2,300 people once the expansion is complete. Read the full story here.
As a standalone "micropolis" within the Cincinnati MSA, Northern Kentucky competes with much larger cities, demonstrating surprising success.
A numerical snapshot of the region's progress over the past 25 years.
With roots in the community and an eye on the horizon, developers drive growth in Northern Kentucky. We spoke with community leaders and real estate professionals about their perspective on development in the region.
In Global Trade's Top 50 Cities, Northern Kentucky / Greater Cincinnati region ranks number 16 -- and boasts the best cost structure on the list, ranking as the least-costly metropolitan area for businesses in the U.S. Low rates for facility leasing, transportation and property taxes contribute to the Northern Kentucky and Cincinnati region's competitive ranking. Northern Kentucky and Cincinnati have a business cost index 4.1% under the U.S national baseline of 100. The region also offers proximity to consumers, suppliers and competitors, along with access to major ports on the Ohio River, five airports and three interstate highways. Read more here.
Northern Kentucky's "front door" is open -- for new businesses, shops, hotels, and residents. The region's riverfront cities -- Bellevue, Covington, Newport, Dayton, Fort Thomas, and Ludlow -- comprise Northern Kentucky's urban core and present a tremendous growth opportunity for developers. That's why the riverfront will be the focus of the third-annual Developers' Day, hosted by Northern Kentucky Tri-ED, Southbank Partners, and the Catalytic Fund, in partnership with several local sponsors. Event organizers promise a fast-paced, high-impact day, which begins at 10 a.m. at the Newport Aquarium. "We are a dynamic community offering incredible development projects for the right professional," said Jack Moreland, President of Southbank Partners. "Northern Kentucky Developers' Day will serve as the catalyst for the right match." Developers will learn about immediately available residential and commercial opportunities, as well as creative financing options and community-led projects that are driving Northern Kentucky forward. What sets this year's event apart, says Karen Finan, Senior Vice President of Tri-ED, is that it will be a one-stop shop for developers who are ready to make a deal. "We'll have the right folks there at the right time and at the right place to answer questions, make connections and move things forward for the developer -- and for Northern Kentucky," Finan says. "It's really a project-oriented event." The day concludes in grand fashion with a scenic cruise on River Queen, where developers can see the area's potential with their own eyes and network with city leaders and business allies. "Northern Kentucky is known for the ease in which the community conducts business and we intend to welcome developers of all types – residential, commercial, industrial, retail – to the region," says Jeanne Schorer, President of the Catalytic Fund. "We will provide them the tools to succeed in Northern Kentucky's urban core." Learn more about Northern Kentucky Developers' Day and register here.
The Northern Kentucky region's skilled workforce, and comparatively affordable cost of living, were driving forces behind Elovations Services Group locating its new international logistics center in Boone County. Elovations CEO and Founder Michael DuGally, from the Boston area, said average wages are comparable to that city but those wages go a lot further in Northern Kentucky. DuGally was also impressed with the region's workforce. "There's a very high-quality workforce here," he said at a press conference announcing the center. Kentucky Governor Steve Beshear was also at the announcement. "Northern Kentucky has a high quality of life, a strong and capable workforce, and an attitude of collaboration," he says. Elovations processes packages sold online to international buyers. That work includes receiving, validating, repackaging and handling customs requirements. The company will lease a 150,000-square-foot building in Boone County, creating a company from the "ground up," DuGally says. Elovations expects to invest $13.7 million in its facilities. By the third quarter of 2013, Elovations expects to hire at least 696 full-time employees. The company's first phase is set for October of this year, with 250 employees. The state of Kentucky offered the company up to $7 million in tax incentives to locate in the region through the Kentucky Business Investment Program. DuGally has also said he's relocating another company, NorAm International Partners, from New Hampshire to Hebron. That is expected to create up to 275 jobs. "Northern Kentucky is a natural location for e-commerce and global shipping-related companies because of the logistical advantages of the airport and the interstate infrastructure. We have a great opportunity in Northern Kentucky to provide a thriving workforce for this fast-paced economy," said Steve Arlinghaus, Kenton County Judge-Executive and chairman of Northern Kentucky Tri-ED. Writer: Feoshia Henderson This story originally appeared in Soapbox on July 10, 2012.
Amazon.com is creating hundreds of full-time, permanent jobs at its fulfillment center near CVG -- up to 900 of them, according to Boone County Judge Executive Gary Moore, as well as up to 5,000 seasonal workers during the holidays. The expansion could nearly double Amazon's NKY workforce. Amazon opened its first distribution center in Hebron in 2005 with about 50 employees. It now has more than 1,000 full-time workers there, reflecting an ongoing commitment to the region. Read the full story here. Read the full story here.
There's plenty of cause for optimism in NKY right now, despite some recent losses. The region's economy is diverse and stable; companies are spending money -- capital investment spending is up 45% so far this year over 2011 -- and companies including Amazon, Elovations, and L'Oreal USA are creating hundreds of jobs. Says Karen Finan in an article for Cincinnati.com: "There's a diversification within the economy here in Northern Kentucky that helps us," said Karen Finan, senior vice president at the Northern Kentucky Tri-County Economic Development Corp. (Tri-ED). "Because at any given time, when we do those types of (job loss) announcements, we could have two office, three manufacturing projects in the pipeline – and it's a constant flow. And so that makes for a very healthy community in Northern Kentucky." Read the full story here.
The Commonwealth of Kentucky has received a 2012 Silver Shovel Award from Area Development magazine -- thanks in part to projects spearheaded by Northern Kentucky Tri-ED. Gold and Silver Shovel awards are granted each year to the states that were most successful in creating jobs and securing investments. In 2011, two of the 10 projects submitted by the Commonwealth of Kentucky were significant expansions in Northern Kentucky: Mubea's expansion at its Kenton County/Elsmere Stabilizer Bars facility, an investment of $46.8 million that will create 182 jobs; and Eagle Manufacturing-Linamar's expansion in Florence, an investment of $40.8 million that will create 138 jobs. The award reflects Northern Kentucky's excellence in facilitating the region's readiness to grow. "In the cases of both of these expansions, these were sites that had been vetted," says David Smith, Director of Development, Duke Energy, Ohio and Kentucky. Duke Energy, through its Foundation, offers matching grants to help communities with site selection and readiness, removing barriers such as environmental surveys and zoning changes for relocating and expanding companies. "When a company is ready to make a decision to expand, to grow, or to locate, as much time as you can remove from the equation makes it easier for them to make that decision." Smith credits Tri-ED with a progressive vision for the community. "Tri-ED is very forward-thinking," Smith says. "They understand this process, and they really approach this in the right way. They're providing a lot of leadership to make this happen." The award also testifies to the growing strength of advanced manufacturing in Northern Kentucky, specifically in the automotive sector. Both Mubea and Eagle Manufacturing-Linamar supply components for the automotive industry. And in 2011, the majority of the $384 million in capital investment in the region -- the fourth highest level in Tri-ED's 25-year history -- came from manufacturing companies.
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