Northern Kentucky Tri-ED closed 25 successful economic development projects from new and existing primary industry companies in 2013, making it one of the 10 best years in the organization's 26-year history. These projects created 1,435 new jobs and $167 million in capital investment for Boone, Campbell and Kenton counties.
Excitement in the region was palpable: Governor Beshear and Lt. Governor Abramson visited Northern Kentucky no fewer than four times to celebrate economic development victories.
Success was shared across sectors and communities. Informatics burst onto the scene with two projects at RiverCenter in Covington -- Clear Measures, an IT infrastructure services company, and Xcelerated Learning Dynamics (XLD), a company that develops performance learning programs for the healthcare industry. Together, these companies will create 341 jobs.
Advanced Manufacturing continued to build momentum in Northern Kentucky, highlighted by Germany-based Mubea, an automotive supplier of steel coils. Gov. Beshear joined local leaders at the ribbon cutting ceremony for Mubea's new 75,000-square-foot facility in Boone County. This $60 million investment resulted in the creation of 150 new jobs and soared Mubea’s presence in Northern Kentucky to over 800,000 square feet.
New developments in aviation include new air charter service by Southern Air and Ultimate Air Shuttle at Cincinnati/Northern Kentucky International Airport (CVG), as well as several new distribution and e-commerce companies which will benefit from excellent logistical service at CVG.
Unprecedented accolades, increased investment
Southern Business & Development (SB&D) named Northern Kentucky the 2013 Mid-Market of the Year in the "Top Deals and Hot Markets 2013 in the South" feature. This is the first time in Tri-ED's 26-year history that the community has received this designation.
Northern Kentucky Tri-ED was also recognized for its efforts to grow and retain primary industries in the Northern Kentucky region by the International Economic Development Council (IEDC), which presented Northern Kentucky Tri-ED with a Bronze Excellence in Economic Development Award for its 2012 project.
NKY Boost is the newly-enhanced Business Retention and Expansion (BR&E) program for Northern Kentucky Tri-ED. NKY Boost conducted 122 interviews with primary industry companies in 2013, which lead to opportunities for expansion, capital investment and new jobs from existing Northern Kentucky businesses.
In November, UpTech
, Northern Kentucky's Informatics-based accelerator, celebrated the grand opening of its new headquarters located at 112 W. Pike Street in Covington. The move was made possible with collaborative assistance from the City of Covington and the Kentucky Innovation Network. UpTech also announced eight winners for the UpTech II program. These founders will receive up to $50,000 in equity investment along with office space, professional support services, and applied research assistance from Northern Kentucky University's College of Informatics.
Several UpTech companies have announced recent successes in their business ventures, including CitiLogic, which made its first hire in 2013. The company will soon launch its water technology software program at the Greater Cincinnati Water Works. This program, called Polaris, will help utilities find leaks throughout its distribution system. CitiLogic was recently awarded a $150,000 Small Business Innovation Research (SBIR) Matching Grant from the Commonwealth of Kentucky.
This past year saw many new and exciting developments in Northern Kentucky, and if this success is any indication, the momentum will continue in 2014! We are looking forward to a great year as we continue our economic development efforts in Northern Kentucky, and we hope you'll follow our progress at NKYThrives.com