nky tri-ed kenton county community meeting presentation

Build a world-class economy in

Northern Kentucky through the

expansion of existing businesses and the creation and

attraction of high quality, primary

industry employers.

Kenton County Economic Development Briefing

Marketing Program

Build awareness of NKY

Generate project leads• Existing Primary Industries and

Entrepreneurs

• Targeted Prospects, Site Selector Consultants and Influencers

• Community Partners, Allies and Investors

• National and Regional Media

Coordinate opportunities with REDI Cincinnati & KY United

Understand growth elements

Business Retention & Expansion

Long-term systematic approach working with existing businesses• Problem Solving

• Identifying Opportunities

• Building Relationships

Key Activities• Regular data collection

• Local coordination

• Proactive responses to business

• Consistent, multi-year effort

NKY BOOST• Award winning program

High Growth Entrepreneurship

Access to Capital & Start-up formation assistance• Over 400 companies assisted

• $200+ million investment infused in NKY

Helped launch UpTechAccelerator

UpTech• Currently in Class V

• 8-10 startups/class

• Startups receive up to $50,000 and Mentorships

Kenton County Economic Development Briefing

Kenton County Economic Development Briefing

Kenton County Economic Development Briefing

• RIGHT TO WORK

• SOUTHWEST AIRLINES

• AMAZON PRIME AIR

Kenton County Economic Development Briefing

Continue Real Estate Analysis• Further analysis of Immediate Focus sites and Future Consideration

areas

Provide local economic development services to Kenton County

• Pilot Program – Initiating first quarter 2017

• Goals and objectives being formulated

• Selection of Director position underway

Kenton County Economic Development Briefing

PROJECT OBJECTIVES

Existing Study Review

1Competitive Assessment

2SWOT Analysis

3Strategic

Initiatives

4Target Industry Identification

5 Marketing Strategy

6

1. Strengthen the region’s competitiveness for corporate investment

2. Identify pragmatic industry targets to further grow & diversify economic opportunity

3. Develop an actionable and effective marketing strategy

Overall Project Objectives

Kenton County Economic Development Briefing

ADVANCED MANUFACTURING

LOGISTICS & DISTRIBUTION

TECHNOLOGY

LIFE SCIENCE

AVIATION

CLUSTERS

LIMITATIONS OF PREVIOUS TARGETS

1. Breadth: While some targets are specific, others may be too broad for actionable outreach (e.g. IT)

2. “Value Add”: Previous targets may not sufficiently distinguish between broad industries the region is already saturated with vs. related, but higher value add opportunities (e.g. Logistics/Distribution)

3. Cross-Industry Advantages: some previous targets may be better viewed as a cross-industry regional strength, rather than stand-alone industry (e.g. Informatics)

4. Update: data becomes out-of-date quickly – critical to constantly review targets and strategy

PREVIOUS PRIMARY INDUSTRY TARGETS

Kenton County Economic Development Briefing

FINANCIAL SERVICES

ADVANCED LOGISTICS

FOOD MANUFACTURING

AVIATION & AEROSPACE

LIFE SCIENCES

AUTOMOTIVE

Financial Service Advisory Cyber Security

Back Office Support Financial Software

Co-Located Manufacturing with HQ, DC and/or

Operations

Perishables

Food R&D

Medical Device Mfg. (Metal & Plastic)

Health Informatics

Automotive Parts (serving multiple OEMs)

HQ/Regional Office/3PL Packaging Technology

Supply Chain Analytics Logistics Machinery

Light & Sport AviationMRO

Aerospace Parts Mfg.

CLUSTER SPECIFIC TARGET

NEW PRIMARY INDUSTRY TARGETS

Kenton County Economic Development Briefing

PARTNER RECOGNITION

Kenton County Economic Development Briefing

Goal: Catalog suitable parcels of land for development

• Narrow list based on critical Factors

• Results Categorized in Two Groups – Immediate and Long-term

• Outside Consultant Perspective – McCallum Sweeney

• Site Plan/Cost Modeling

• Strategy Development

RECAP OF PROCESS

Immediate and Long-Term

Sites

2Consultant

Review

3Site Plan/Cost

Modeling

4Development

Strategy

5

1

Narrow List

Kenton County Economic Development Briefing

Narrowed list based on Critical Factors• Factors include:

• Acreage – Over 20 Acres• Undeveloped Land• Access to roads, sewer, and water – Within 1,000 ft• Zoning – Industrial Zoning• DSA – Developmentally Sensitive Areas (Steep slope, unstable soils, etc.) – Less

than 60% of site

Results Categorized in Two Groups• Sites that are currently “Site Ready” – 0 Sites• Immediate Focus – 6 Sites

• Meet all criteria and are for sale currently

• Future Consideration – 64 Parcels (2 Corridors)• Meet some but not all criteria

Kenton County Economic Development Briefing

• Site 1• Developable Acres = 26• Potential Acquisition & Development

Cost = ~$4,080,000

• Site 2• Developable Acres = 42• Potential Acquisition & Development

Cost = ~$14,300,000

• Site 3• Developable Acres = 50• Potential Acquisition & Development

Cost = ~$7,094,000

• Site 4• Developable Acres = 66• Potential Acquisition &

Development Cost = ~11,600,000

• Site 5• Developer controlled

• Site 6• Developer controlled

Kenton County Economic Development Briefing

Two Areas of Interest

• Both in Unincorporated Kenton County

• All lack one or more critical components

• Future Land Use

• Zoning

• Access to Water/Sewer Infrastructure

• Access to Roads

Kenton County Economic Development Briefing

Next Steps

• Initial Discussions Ongoing

• Land Use Planning

• Direction 2030

• Infrastructure Planning

Kenton County Economic Development Briefing