Goal, Strategies and Initiatives

In today’s economy, talent, industry clusters, inclusion and connectivity provide the foundation for a true competitive advantage.  During the visioning process, community members identified that "Northern Kentucky will reinvent its economy to outpace the national economy and create new wealth in the region".

Six strategies for achieving a competitive economy:

1. Develop an economic competitiveness strategy that is fully integrated with Greater Cincinnati and leverages assets on both sides of the Ohio River.
2. Focus on industry sectors with the highest growth potential for high-paying jobs.
3. Make entrepreneurship and innovation defining qualities of our region.
4. Create and implement a marketing plan centered on our region’s distinctive spirit, advantages and unique value proposition.
5. Connect our region by creating an electronic public platform (e-community) for commerce, education and communication that maximizes access and use of online opportunities and information.
6. Align our college and university programs and resources to support our overall economic competitiveness.

Latest Developments on Related Initiatives

UpTech
Economic Development leaders in NKY including, Vision 2015, the ezone, Tri-ED, NKU and the Campbell County Progress Authority, are leveraging the region’s brainpower, assets and business clout to create new high-paying jobs – and become the nation’s next great technology hub. UpTech, a business super accelerator, is expected to bring the world’s best and brightest technology entrepreneurs to Northern Kentucky. UpTech will nurture 50 tech-startups in the region for a period of three to five years. Each company will receive $100,000 in seed money in installments of 10 beginning on May 1, 2012. To read more about UpTech click here.


Economic Competitiveness Working Group    
The Economic Competitiveness Working Group (ECWG) began in Spring, 2010 to bring together those involved in attraction, retention, innovation/entrepreneurship, international trade, and workforce development to engage in data-based discussions aimed at developing actionable programs to increase our regional competitiveness.  The group’s top two goals for 2011 were (a) expanded Business Retention and Expansion (BRE) program and (b) The Big Idea, College of Informatics based business accelerator.  The expanded BRE program is expected to go into effect with primary leadership from Tri-ED, but with active coordination with our other local economic development organizations (LEDOs), in January.  Also, The Big Idea business accelerator continues to progress.  The initial goal is to attract 10 of the best and brightest early stage informatics companies in the country to develop their businesses here in Northern Kentucky. This initiative is currently on schedule to launch in January 2012.

Water Technology Innovation Cluster (WTIC)
The Water Technology Innovation Cluster (WTIC) is a broad collaborative effort involving the USEPA, economic and community development organizations from Dayton, Cincinnati, Northern Kentucky and SE Indiana, as well as regional universities, water utilities, and numerous private sector companies doing business in the water industry.  The goals are to more rapidly commercialize innovative water technologies, create jobs, and tap into the $770 Billion per year global water market.  

The WTIC recently hosted a delegation of Chinese water technology representatives who wish to develop a relationship with our Cluster which may result in business development for our region.  In addition, leaders of the WTIC are working with LPK, an internationally recognized brand development firm, to develop a brand identity and marketing strategy, including an enhanced website, which will launch at the beginning of 2012.

Job Creation
Groundbreaking ceremonies for two major projects in Northern Kentucky were held over the past few months.  Governor Beshear, community leaders and officials from ZF Steering Systems LLC celebrated the completion of its $95.8 million expansion of their facility in Florence.  The expansion included the construction of two new buildings totaling 175,000 square feet and the creation of 374 new full-time jobs over the next two years.

DHL also unveiled a $22 million expansion of its air cargo hub at Cincinnati/Northern Kentucky International Airport, adding 19 acres to their facility.  This expansion was the result of increased shipping volumes over the past year and the need to improve hub operations and capacity.

Another exciting announcement for our region comes from Northern Kentucky University and the grand opening of Griffin Hall, the new home of NKU’s College of Informatics.  This state-of-the-art facility incorporates the latest research technology for informatics, which will greatly enhance the educational opportunities in our region for training and expertise in this fast-growing field.  

These projects join two existing businesses announcing growth in NKY over the last several months, including:
•    Linamar Manufacturing – the automotive parts manufacturer, located in Florence, is investing more than $40 million on new equipment and creating 138 new jobs at its existing facility.
•    Johnson Controls – the Florence-based automotive battery manufacturer is creating 45 new jobs and investing $24.2 million to increase the plant’s square footage to accommodate additional production lines and warehouse space.