nky tri-ed kenton county community meeting presentation
TRANSCRIPT
![Page 1: NKY Tri-ED Kenton County Community Meeting Presentation](https://reader034.vdocuments.net/reader034/viewer/2022050714/58e5aca91a28ab85798b45c5/html5/thumbnails/1.jpg)
![Page 2: NKY Tri-ED Kenton County Community Meeting Presentation](https://reader034.vdocuments.net/reader034/viewer/2022050714/58e5aca91a28ab85798b45c5/html5/thumbnails/2.jpg)
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
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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
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Kenton County Economic Development Briefing
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Kenton County Economic Development Briefing
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• RIGHT TO WORK
• SOUTHWEST AIRLINES
• AMAZON PRIME AIR
Kenton County Economic Development Briefing
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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
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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
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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
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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
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PARTNER RECOGNITION
Kenton County Economic Development Briefing
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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
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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
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• 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
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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
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Next Steps
• Initial Discussions Ongoing
• Land Use Planning
• Direction 2030
• Infrastructure Planning
Kenton County Economic Development Briefing
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