As we prepare for the new administration to take office and begin their initiatives, Northern Kentucky Tri-County Economic Development Corporation is working to continue to bring new companies to the area and retain existing companies and jobs in Boone, Campbell and Kenton counties. Northern Kentucky and the Cincinnati area have shown a strong resilience in the economic downturn, better than other areas of the country, because of the diversity of businesses and higher education institutions located in our region.Northern Kentucky Tri-ED
strategically focuses on attracting companies in the advanced manufacturing, professional office and technology sectors to capitalize on the talents of the region's workforce and ensure the economy is diversified. For example, Fidelity Investments
and Toyota Boshoku America
have large office operations in Northern Kentucky, while WILD Flavors
have advanced manufacturing facilities located in the region as well.
The technology sector is expected to experience growth in spite of the recession as more companies and governments outsource and turn to technology-based solutions such as Radio Frequency Identification (RFID) which is instrumental in the supply chain management process. Psion Teklogix
and Blue Star
are two companies in Northern Kentucky that are focused on RFID technology, a niche market in the technology sector that is expected to gain momentum despite the economic downturn. Both companies have recently expanded their operations and hired high tech workers.
In December, the U.S. Department of Military Affairs announced that it will build a $20 million, 88,000-square-foot National Guard Readiness Center on a 34.7-acre site in Boone County near the Cincinnati/Northern Kentucky International Airport. The new facility is expected to have an annual economic impact of more than $4 million on the area.
While Northern Kentucky has been impacted by the recession, government, business and education leaders are working innovatively to ensure the region's success by achieving a diversified business community and workforce that can meet the demands of its companies.
We wish you the best in 2009 and invite you to visit Northern Kentucky soon!