Last year was such a good one for Northern Kentucky investment that it ranks in the top five in the 28 years Northern Kentucky Tri-ED has been keeping track.
Twenty-seven companies announced new locations and expansions in 2015, an increase of 17 percent from 2014. That is the highest number in the previous three years. The average is 22. The 2015 projects created 2,435 jobs, a 22 percent increase from 2014 and $459.8 million in capital investment, up 106 percent.
Helping to fuel the development is a huge project near the Cincinnati Northern Kentucky International Airport. Wayfair Inc., an online home-furnishings retailer is investing $10 million to lease a 900,000 square foot facility in Erlanger on a 52-acre site on airport property.
President and CEO of NKY Tri-ED Dan Tobertge says CVG has 1,000 acres of land deemed to be surplus. Looking ahead to 2016, he hopes to develop more of that. Standing at another project site in nearby Florence, he says "Here at Bosch we're looking at a $84 million expansion with approximately 212 jobs being created by their internal expansion."
According to Boone County Judge Executive Gary Moore,“The manufacturing, aviation and office sectors led investments and new jobs in the region, with capital investments announced in 2015 double those in 2014. Northern Kentucky is home to DHL and e-commerce logistics companies that also provided significant job and capital investment growth in 2015.”
In November, Site Selection magazine ranked Kentucky third nationally in the 2015 Business Climate Ranking. It had been eighth.
Tobertge praises Northern Kentucky University's College of Informatics and hopes to capitalize on the strong workforce it is developing.
Cincinnati economic development numbers are due out in March. REDI reports 65 new projects, creating 7,726 jobs and $1.21 billion in capital investment.