Northern Kentucky Tri-ED announces 2017 economic impact of primary industry growth

FT. MITCHELL, Ky. (Jan. 24, 2018) – Northern Kentucky Tri-ED today recognized companies that located, expanded or were launched in the Northern Kentucky region in 2017 at the 10th annual Northern Kentucky Thoroughbred Awards.

The 2017 Tri-ED Annual Report was also released, highlighting the direct, indirect and induced impacts of jobs and investment from 27 primary industry companies and entrepreneurship activity.

“Northern Kentucky had a record-breaking year in 2017 with more capital investment announced than at any other time in our thirty-year history,” said Kenton County Judge-Executive Kris Knochelmann, Tri-ED’s board chair. “The extraordinary level of investment was nearly 8 times greater than a typical year for Northern Kentucky, mostly attributed to the Amazon Prime Air hub at CVG announcement in early 2017. Northern Kentucky also enjoyed a 22% increase in announced projects for both new and expanding operations across a range of industries.”

“The Commonwealth of Kentucky also had a record-breaking year in 2017 with over $9.2 billion in announced new capital investment by primary industries,” said Dan Tobergte, president and CEO of Tri-ED. “Northern Kentucky contributed significantly to this state effort with 19% of the total capital investment from just 9% of Kentucky’s population. Our region had a balanced portfolio of expansions and new market entries in 2017. In the coming year, these announcements will begin to be realized, resulting in strong, sustained investment in Northern Kentucky. With the federal tax law changes enhancing the business attractiveness of the U.S. and continued pro-business support from the Commonwealth and Northern Kentucky’s communities, our future is quite bright.”

The total economic impact on the Cincinnati MSA of an additional 7,649 jobs from Northern Kentucky’s 2017 announcements is the highest recorded in the last ten years and is 98% higher than the average over the last ten years since Tri-ED began coordinating the NKY Thoroughbreds event.

Here are the 2018 Thoroughbred Award winners:

AAA Cooper Transportation

ADM

Amazon.com, Inc.

Aristech Surfaces LLC

Beam Dental

Gravity Diagnostics

iReportSource

Krauss-Maffei Corp.

Maxim Crane Works, L.P.

Paper Water Bottle

Perfetti Van Melle

RDI Corp.

Resolve Packaging

Road iD

Schlumberger

Southwest Airlines

The Kroger Co.

Toyota Boshoku America

*Indirect and induced effects were developed by Tri-ED using JobsEQ, economic modeling software by Chmura Economics & Analytics.

The new or expanding projects in attendance at the NKY Thoroughbreds Awards in Northern Kentucky in 2017, included: