By Mark Hansel
NKyTribune managing editor
The Northern Kentucky Tri-County Economic Development Corporation (Tri-ED) honored 18 companies that located, expanded or were launched in the region in 2016 at the ninth annual Northern Kentucky Thoroughbred Awards.
The Thoroughbred Awards recognize the region’s primary industry companies that announced new, start-up or expanding operations in Northern Kentucky in 2016.
The event took place Tuesday at the Drees Pavilion at Devou Park in Covington. Kathrine Nero, anchor for WCPO television’s Good Morning Tri-State and a Northern Kentucky resident, was the emcee.
Northern Kentucky Tri-ED serves as the primary economic development entity for Boone, Campbell and Kenton counties in Northern Kentucky. Since its founding in 1987, more than 645 primary industry projects have located to or expanded within Northern Kentucky, creating more than 55,600 jobs and investing more than $7.6 billion.
“I can’t tell you how many (companies) are in Kenton, how many are in Boone, or how many are in Campbell, I don’t know,” Dan Tobergte, President and CEO of Tri-ED, said. “You are in Northern Kentucky (and) we are all together as one regional unit. That’s the way we like to portray ourselves to you as you are looking to come into the community and once you are here, you are part of the entire community.”
Kentucky Gov. Matt Bevin sent a message from Frankfort, congratulating the Thoroughbred Award winners.
“That’s not a status that we throw around lightly here in the Commonwealth of Kentucky – a thoroughbred is something to aspire to and be inspired by,” Bevin said. “Congratulations to each and every one of you, for even in a region that has been so strong economically, standing out among your peers.”
The 2016 Tri-ED Annual Report was also released, highlighting the direct, indirect and induced impacts of jobs and investment from primary industry companies and entrepreneurship activity.
“Our region saw a very solid year in 2016, with nearly 1,700 new jobs announced from 25 new and expanding companies” said Campbell County Judge Executive Steve Pendery, NKY Tri-ED Board Chair. “That success is paired with the efforts of many around entrepreneurship, workforce development, and business expansion, which will create even greater opportunities ahead.”
Tobergte said the organization further refined its strategic target industries in 2016 for Northern Kentucky’s continued economic growth.
“Announced projects in 2016 amounted to $327 million in capital investment with an estimated $98 million in annual labor income, generating the direct and indirect local government revenue needed to provide essential services for all Northern Kentucky communities,” Tobergte said.
Expanding High Growth Entrepreneurship
Entrepreneurship in Northern Kentucky celebrated several milestones. Two Northern Kentucky companies, Aquisense Technologies and Wyzerr, were invited to the Global Entrepreneurship Summit in California to join an exclusive group of startups from around the world.
The Kentucky Innovation Network at Northern Kentucky received a Gold Award from the International Economic Development Council (IEDC) for implementing the Kentucky Individual Angel Tax Credit, which has spurred nearly $15 million in investment in startups statewide since its creation. UpTech, Northern Kentucky’s business accelerator, was also recognized with a Silver Award from the IEDC; UpTech is now in its fifth class of startups with a portfolio of 39 companies and more than 170 jobs created.
“The technology startup ecosystem in Northern Kentucky has been teeming with entrepreneurial growth,” said Casey Barach, SVP for High Growth Entrepreneurship at Tri-ED and Director of the Kentucky Innovation Network at Northern Kentucky. “The overwhelming success of the angel investment tax credit, the designation of Innovation Alley, and the continued upward momentum of our startups has set a new bar for entrepreneurship in Northern Kentucky.”
Retaining and Expanding Existing Businesses
NKY Boost, the business retention and expansion program of Northern Kentucky, is now in its fifth year and continues to offer resources to existing businesses to meet their challenges, sustain growth and create additional jobs in the region. Tri-ED staff conducted 70 business visits in 2016, generating 11 expansion project leads. The Advanced Manufacturing Workforce Development Coalition (AMWDC) and the Northern Kentucky Chapter of the Federation for Advanced Manufacturing Education (KY FAME) continue to play an integral part in supporting Northern Kentucky’s existing industry base by building the region’s talent pipeline through outreach to students and adults interested in advanced manufacturing careers.
“The primary industry companies that come here thrive here because there are resources available that help them do so,” said Wade Williams, Senior Vice President for Business Development at Tri-ED. “The efforts we are putting into workforce, land development and individualized company follow-up are what will ensure we remain a global location of choice for innovative industry.”
Mubea Inc. received the NKY Boost Ally Award. The award is presented to an organization that demonstrates exceptional service to Northern Kentucky businesses through coordination with NKY Boost.
Boone County Judge/Executive Gary Moore, who presented the award, said Mubea employs more than 1,400 people and has experienced a 127 percent growth in employment in the last five years.
“Mubea values health and wellness for their employees and operates an onsite health clinic, partnering with St. Elizabeth Healthcare,” Moore said. “Mubea has taken a leadership role in addressing community challenges and has been a leader in addressing the region’s skilled labor shortage. Mubea has invested in employees, by allocating significant resources, including $3 million in an apprenticeship program and the production of a training facility that they allow others to use.”
Doug Cain, CEO of Mubea North America, said the company was not aware it would receive the award until a few weeks ago and was pleasantly surprised.
“It’s really a recognition of what all of the Mubea employees mean to the community,” Cain said. “It’s not only investment in technical equipment, it’s what we invest in our people with health care, the apprentice program, training and employee development. It’s really a holistic award that means a lot to us, because it advocates for our vision to be a community leader.”
Tri-ED is also part of the Kentucky Innovation Network, a group of business leaders and mentors that encourages relationships, grows companies and creates jobs. For more information on Northern Kentucky Tri-ED, click here .
Contact Mark Hansel at mark.hansel@nkytrib.com