Steinert US came to Northern Kentucky in 2009. A rapidly-growing German company which manufactures magnetic separating and sorting equipment, Steinert could have taken their company's U.S. HQ anywhere.
They chose Northern Kentucky. Since then, they have participated in two major expansions and expect to double in size in the next four years.
What drives growth in Northern Kentucky? Why do companies like Steinert come to, stay in, and grow with the region?
Jason Looman, President of Steinert US, can name a few reasons.
They include a central location ("All of our customers are within driving distance," Looman says); an educated, diverse, and skilled workforce; proximity to a number of outstanding educational institutions; and inclusion in the Cincinnati MSA, which provides an urban environment without the congestion or hassle of a larger city. And for a German company, Northern Kentucky's history and culture was an important consideration.
"The mindset of the workers is exactly what we were looking for," Looman says. "Cincinnati's German heritage has influenced the area positively. Not only are many other German businesses located nearby, but the people from the area share the same work ethic as our German counterparts. From suppliers and vendors to employees, everyone understands the cultural differences of working with a German parent company. They understand our needs."
Simply put, Steinert saw something in NKY. But just as importantly, NKY saw something in Steinert.
"Many cities we talked to were not interested in a group our size, and didn't see the potential for growth," Looman says. "Northern Kentucky saw the potential and then provided us an opportunity. The business climate was friendly, and local politicians and groups like
Tri-ED were willing to work with us."
"The Northern Kentucky region is located within 600 miles of more than 50% of the U.S. population, the country's manufacturing firms, and the nation's purchasing power," says Diane Whalen, Mayor of Florence, KY -- a city that is home to dozens of companies like Steinert, including
Mazak Corp., Tokyo Boeki, ZF Steering, and
Healthwarehouse.com.
Mayor Whalen cites the region's most attractive assets as major factors for current and future growth: the Cincinnati/Northern Kentucky International Airport (CVG); access to major interstates, the Ohio river, and rail transportation; a low cost of doing business; competitive tax rates. But she also echoes Looman's conviction that there's something else behind the success of the Northern Kentucky region, something bigger and more fundamental. Something that has to do with the way Northern Kentucky does business.
"Many years ago, the Northern Kentucky region established a collective direction that recognized [how] successful communities work proactively to recruit new businesses and expand existing ones," Whalen says. "I think those interactions between businesses and community leaders have been an essential component of our region's past successes and will remain an important part of our future together."
What's the pitch for those who are considering coming to NKY?
"Individuals who choose Northern Kentucky can pick up cost-of-living advantages," says Jim McGraw, a partner in KMK Consulting, which provides national site selection consulting, specializing in incentives. "The general cost structure for residents and businesses is generally favorable in NKY."
McGraw also emphasizes a competitive workforce, transportation infrastructure, and the logistics benefits that come with the CVG hub of express shipping company DHL. Another plus, he says, is an increase in attractive riverfront residential options.
"Premium housing on the riverfront has impacted the area in a positive way," he says. "A good number of people have taken advantage of this by relocating to NKY."
Of course, practical benefits aside, some of us just love Northern Kentucky.
"NKY's assets are too numerous to enumerate," says Judy Clabes, Editor and Publisher of online newspaper
KY Forward, past Tri-ED board member and former editor of the
Kentucky Post. and long-time supporter of NKY, who is nonetheless able to name a few of her favorite things about the region. "They include scenic vistas, livable neighborhoods, great restaurants, a range of entertainment options, good schools and churches, urban, rural and suburban lifestyle options, good jobs -- and friendly people."
Clabes is such a fan of NKY that she's expanding her central KY-based paper to cover the region's issues.
"I was fortunate to live and work in Northern Kentucky for many years ... during the remarkable renaissance of the region, from the airport to the riverfronts to the NKU campus and beyond. Those heady times gave birth to Tri-ED, and Tri-ED has continued to move the region forward as an economic force and a great place to live -- thanks to the commitment of a lot of dedicated people and organizations.
"NKY has a great story to tell, time and again," Clabes says. "We hope to be well-positioned to tell it in the way it should be told."
Photo by Dan Hill, via Flickr