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:
- Develop an economic competitiveness strategy that is fully integrated with Greater Cincinnati and leverages assets on both sides of the Ohio River.
- Focus on industry sectors with the highest growth potential for high-paying jobs.
- Make entrepreneurship and innovation defining qualities of our region.
- Create and implement a marketing plan centered on our region’s distinctive spirit, advantages and unique value proposition.
- 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.
- Align our college and university programs and resources to support our overall economic competitiveness.
Latest Developments on Related Initiatives
Existing Industry Job Creation Marketing
Tri-ED worked on 25 announced expansion and new business projects in 2010. These projects resulted in the creation of 1,990 new jobs and $201 million in capital investment. Announced companies will be honored at Tri-ED’s annual Thoroughbred luncheon.
Economic Competiveness Working Group
The Economic Competitiveness Working Group (ECWG) which convened in Spring, 2010 and chaired by Johnna Reeder, Vice President of Community Relations and Economic Development for Duke Energy, was formed 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. Proposals have been developed and are now in various stages of implementation in the areas of Business Retention and Expansion (BRE), International Business Activity, and Innovation/Entrepreneurship.
On May 19th, 2011 the Northern Kentucky International Trade Association (NKITA) hosted the 21st Kentucky International Trade and Investment Conference at the Northern Kentucky Convention Center. Representatives from Brazil, Canada, China, India, Mexico, and South Korea were in attendance. Of special significance was the presence of Her Excellency Meera Shankar, Indian Ambassador to the United States. Daniele Longo, Vice President of the Northern Kentucky Chamber of Commerce, who coordinated the itineraries of all the foreign dignitaries, arranged meetings with various members of the Economic Competitiveness Working Group.
Greater Cincinnati Regional EPA Technology Innovation Cluster
The Water Technology Innovation Cluster (WTIC) has now moved from concept to reality. This business cluster covers a broad regional footprint that includes Dayton and Cincinnati, Ohio, Northern Kentucky, and Southeast Indiana. On January 18th, the top administrators of the US Environmental Protection Agency and the Small Business Administration both came to the USEPA facility in Cincinnati to make a national announcement of the launch of this venture. The WTIC provides a framework for public-private partnerships throughout the region aimed at developing and commercializing technologies related to national and global water needs. It is estimated that in the U.S. alone, this will be a $480 Billion industry over the next decade. Immediately after the announcement, we began receiving contacts from companies and water-related organizations around the country, as well as from two foreign countries.