Southern Business & Development magazine recognizes NKY progress
FT. MITCHELL, Ky. (Aug. 13, 2013) — Southern Business & Development magazine (SB&D) named Northern Kentucky the 2013 Mid Market of the Year in its “Top Deals and Hot Markets 2013” in the South feature, announced Northern Kentucky Tri-County Economic Development Corp.
It is the first time in Northern Kentucky Tri-Ed’s 26-year history that the community has received the designation. Kentucky ranked No. 9 in the 2013 SB&D 100: State Scores ranking and No. 5 in the 2013 SB&D 100: State Scores PPM (points per million residents) out of 15 states.
Behind Northern Kentucky on the list were: Lake Charles, La.; Columbia, S.C.; Chatanooga; Charleston; and Huntsville-Decatur, Ala.
Some of the notable Northern Kentucky deals mentioned were: Citicorp with 400 jobs; Elovations with 696 jobs and a $14 million investment; and iHerb with 600 jobs and a $30 million investment
“We’re thrilled that Northern Kentucky is being recognized for Tri-ED’s success in 2012, especially among our very competitive southern mid market peers,” said Steve Pendery, Campbell County Judge Executive and Tri-ED Chairman. “Northern Kentucky Tri-ED aggressively marketed the region throughout the economic downturn and now Boone, Campbell and Kenton counties are benefitting with new company locations and existing industry expansions creating new jobs in our community.”
On average, Tri-ED attracts or facilitates the expansion of 22 companies annually in Boone, Campbell and Kenton counties. In 2012, 24 new primary industry companies announced expansions in Northern Kentucky with 12 new market entries and 12 existing companies announcing expansions and new jobs in the region. Last year, 3,774 direct jobs were announced, nearly triple what was announced in 2011, ranking fourth highest in Tri-ED’s 26-year history.
“2013 has gotten off to a strong start, the momentum of new jobs and investment in Northern Kentucky is on the upswing,” said Dan Tobergte, Tri-ED president and CEO. “Newly Weds Foods location near CVG, the expansion at L’Oreal USA in Boone County and Ethos Laboratories’ redevelopment in Newport are all exciting developments for our region.”
Advanced manufacturing, office/tech operations, life sciences and e-commerce/logistics were strong sectors in 2012.
“Northern Kentucky Tri-ED has strategically worked to create a diverse, primary industry economy in Northern Kentucky,” added Tobergte.