Build it and they will come. That's the theory behind an ambitious approach that combines public and private efforts to develop infrastructure and educational services to support a thriving life sciences and high tech community in the urban core of Northern Kentucky.
Over the next several years, more than $10 million in private funds will help launch development in urban communities in Northern Kentucky that will support a rich life sciences -- as well as other high tech -- industries.
"I know there is a huge potential here," says Jeanne Shroer, executive director of Catalytic Development Fund of Northern Kentucky, the development corporation directing fundraising. "We just need to make some investments for the effort to reach its full potential."
That potential could include hundreds of skilled jobs, re-furbished and new housing units, plus office, educational, laboratory and manufacturing space that would all attract growing bio science and high tech companies such as
Bexion Pharmaceuticals. Bexion, based at biotechnology accelerator,
bioLOGIC, is working on therapies for the treatment of cancer that could lead to the commercialization of several new health care products.
The overall effort is still in the early stages, says Shroer, who is in the process of identifying key areas where new developments will unfold. With $6.5 million already in hand, she expects to reach the $10 million goal soon.
Northern Kentucky leaders leverage the community's proximity to the Cincinnati MSA's health care hub of hospitals, educational institutions and businesses that attract top bio science talent from around the world. Using a livable urban community as a draw and regional amenities as a plus, they have created an awareness of place with many life science and high tech companies. In addition, Kentucky's Small Business Innovation Research (SBIR) matching grant gives start-ups the boost they need to accelerate their commercialization timeline, and helps encourage them to make the move to the state.
They hope this same combination of factors will continue to attract other bio science companies, especially as the plan to develop the area further unfolds, says Karen Finan, senior vice president of Tri-ED, the Northern Kentucky Tri-County Economic Development Corporation.
"Our goal is to bring high tech, high paying jobs to Northern Kentucky," says Finan. "We are taking a strategic focus on this effort and it is an opportunity for our region to attract growing life sciences and high tech companies."
Finan says that as new companies look to the area as a possible home base, she wants them to be able to easily find facilities to move their business into, as well as prime housing stock, high quality recreational outlets and an educated work force to tap into.
All of these amenities will be built or enhanced as part of the development push for the area that includes Northern Kentucky's urban core.
"Community development matched to the needs of these knowledge-based sectors is critical to Northern Kentucy and the region's success. We have to leverage the influence and knowledge of the outstanding companies like bioLOGIC already here in order to attract others to Northern Kentucky," she says.
Margaret van Gilse, a partner with bioLOGIC, an international bio-science accelerator with headquarters in Covington, says that there is indeed the possibility of hundreds of skilled jobs as some of their member companies commercialize and advance to the manufacturing stages and other levels for their new products.
"We expect a significant economic boost from these companies," says van Gilse. "We hope to develop companies that stay in the region and grow into manufacturers, for instance, that create jobs."
Companies such as Bexion, which is utilizing technology licensed from Cincinnati Children's Hospital Medical Center in its cancer therapy research, show promise as future employers. The company expects to begin human clinical trials late this year or early next for therapies involving invasive brain tumors.
Van Gilse says she has a growing list of biotechnology companies that are interested in the area and are open to a move.
One of the important resources those companies will need is qualified employees.
Ed Hughes, president and CEO of Gateway Community and Technical College, says his school is preparing for the future educational needs of high-tech businesses by creating a new campus in the urban core of Covington that will offer the courses and life skills training that high-tech companies require.
In the planning phase now, the planned $75 million, 250,000 square foot campus will include courses in medical technology, instrumentation and laboratory technology to name a few. It will also offer business courses, so that young entrepreneurs can get the skills they need to open small businesses that would support a thriving, highly educated workforce.
Also a priority, says Hughes, is a wellness program that would encourage students and residents to eat right, exercise and avoid bad habits, such as smoking.
"A livable community is all about healthy lifestyles," says Hughes. "Not only do we want the college to be about the education of students, we want it to impact their lifestyles too."
Together, the efforts of these organizations are shaping a potential economic force for Northern Kentucky and the region that will be felt for decades to come.
"We recognize that now is the time to move forward," says Finan. "We are in a great place to leverage talent and resources. We need to take advantage of it."
Top Photo
Judge Executive Steve Pendery, Chairman, Tri-ED Board
Scott Merz, President of Exatherm
Nigel Ferrey, Managing Director of bioLOGIC Corp.
Governor Steve Beshear
Ray Takigiku, Ph.D., CEO and President of Bexion Pharmaceuticals
Middle Photo
Nigel Ferrey, Managing Director of bioLOGIC Corp.
Scott Merz, President of Exatherm
Judge Executive Steve Pendery, Chairman, Tri-ED Board
Ray Takigiku, Ph.D., CEO and President of Bexion Pharmaceuticals
Bottom Photo
Ray Takigiku, Ph.D., CEO and President of Bexion Pharmaceuticals