Unique Assets in Northern Kentucky
Corporate locations can take advantage of a unique combination of assets – lower operating costs and convenience of Northern Kentucky, plus the corporate identity and amenities of Cincinnati. If it is important to your location decision, it is probably on our list of unique regional advantages.
- Cincinnati Bell Telephone - offering more than 90% digital service to all customers, now offers business customers an extensive network of self-healing fiber optic rings. Cincinnati Bell operates the market’s largest Internet Service Provider (ISP),
- Kentucky’s favorable tax and business climate – ranked in the least-expensive quartile of state and local taxes.
- Cincinnati/Northern Kentucky International Airport – offering daily nonstop international flights to Europe and Canada with 400 daily departures to 114 major destinations worldwide. This includes nonstop service to and from London, Frankfurt, Paris, Rome, Montreal, Amsterdam, Nassau and Toronto. Travelers worldwide have rated CVG one of the top U.S. airports. 2005 marks the 16th time CVG has rated among the nation's best.
Northern Kentucky University Office of Economic Initiatives
The NKU economic initiatives team is engaged in an ambitious program that will build stronger ties with the business community. The goal: creating real economic development by growing existing firms and creating new businesses, as well as energizing the NKU brain trust at all levels - including the student population, which will benefit from being involved in the multitude of partnerships through internships, co-ops and ultimately, employment with business partners.
Northern Kentucky University College of Informatics
A state-of the art, $35 million facility, Northern Kentucky University’s Center for Informatics educates students in understanding and applying knowledge to complex information and communication. This bold and nationally-recognized program prepares students with the computation and communication skills appropriate for their field, while being a primary driver of high technology in the area, with a special emphasis on information technology. The results are a windfall for regional employers: Graduates have a more sophisticated knowledge of information technology in concert with their core discipline, allowing local businesses to have easier access to intellectual capital. Area businesses receive a competitive edge in many industries including health care, construction, bio-technology, telecommunications and financial services.
New Projects:
Northern Kentucky and Cincinnati in partnership
"We've been saying for years that the river is going to be main street some day, it has become that" said Butch Callery, Mayor City of Covington. "With the energy we're seeing in Covington, Newport, and Cincinnati, we have a good opportunity to have a tourism destination that rivals anything in the nation," he said. read more ...
Boone County
Florence City Center Revitalization
The Mall Road (City Centre) Revitalization Project was selected as a 2008 Northern Kentucky Chamber of Commerce Consensus Committee Project. This project will leverage the strengths of the City, private developers and the state to retain and improve the retail trade as well as expand retail, entertainment, office and residential opportunities. New development is projected to increase multi-use space by 1.7 million square feet. The corridor currently transports 8.5 million cars, and businesses employ 3,400 citizens with estimated annual wages of $114.6 million.
Donaldson Road Center II
Tappan Properties has broken ground for a 261,000 square foot speculative office/warehouse complex. The $14 Million project is being built next to the Cincinnati/Northern Kentucky International Airport. The space will be leased in increments from 5,400 to 50,000 square feet. It is scheduled to be completed February 2007.
Kenton County
Centennial Plaza
Ashley Commercial Group is developing Centennial Plaza, an upscale retail/office center on Centennial Boulevard in Independence. The Plaza is expected to house restaurants as well as companies that provide professional services.
Fidelity Investments Building and Parking Garage
The project represents a $120 million investment and has created an additional 1,500 jobs in the commonwealth. The 350,000 square foot facility is the fourth expansion on the Covington campus since 1994.
The Pulse
The $13 million development in Covington's downtown arts district encompasses a city block. First year construction will consisted of 32 condominium lofts. For more information on this project, visit their web site.
The Ascent
Corporex Company's asymmetrical, 21 floor tower houses 80 luxury condominiums, a small retail center and a plaza and parking for residents. The Ascent at Roebling's Bridge is located at the former site of Coach and Four restaurant.
- Location: RiverCenter Boulevard and Scott Boulevard
- Developer: Corporex Cos.
- Future Expansion: Mixed-use project, including retail, restaurants and residential, planned for adjacent lot
Campbell County
Manhattan Harbour located in Dayton, KY is Campbell County's newest development featuring up to 1100 new riverfront homes, the only Ohio River Marina along the central riverfront, 130,000 square feet of retail space including health and fitness facilities, a hotel and dockside dining.
Newport Pavilion, The 57-acre property will include Target, Kroger Marketplace, and Home Depot as anchors.
South Shore Residences The complex in Newport, Kentucky will include a marina, clubhouse, pool, putting green and serenity garden. The three towers in the $165 million complex are angled to offer views of downtown Cincinnati. The towers will offer 200 units that will have 1,000 to 4,000 square feet and sell for $250,000 to $2 million.
Ovation, Newport A $600 million project on the banks of the Licking and Ohio River will include office, 900 residential units and retail development. Most of the retail development will be geared to people living and working in the development.
Harbor Greene, Bellevue
A $65 million residential and commercial development on 7.7 acres along the riverfront in Bellevue, Kentucky. The new development will offer spectacular views of the Ohio River, Downtown Cincinnati, and Mt. Adams. The development will be immediately accessible from I-471 and sits directly across the Ohio River from Mt. Adams. All office/retail space and condominiums will have river views. Harbor Green will include park-like green spaces with a bike trail and river walk.
- Location: Port Bellevue, Bellevue, Kentucky
- Developer: Ackerman Group
- Occupancy: 2007
- Future Expansion: Mixed-use including office, retail and restaurants
2008 Economic Forecast
The 2008 Economic Forecast for Northern Kentucky indicates the local economy moves closely with the U.S. economy, thus continued growth for the commonwealth is expected.
- Northern Kentucky Gross Domestic Product (GDP) is forecast to grow at an average annual rate of 2.4% in 2008
- Unemployment in Boone, Campbell and Kenton counties in the Northern Kentucky area is expected to remain around 5% in 2008
- US Inflation will continue to rise 2.8% in 2008 from 2.7% in 2007
However, the Northern Kentucky / Greater Cincinnati economy will grow with the national economy. Analysis shows that Northern Kentucky/Greater Cincinnati is more stable, i.e., it is less susceptible to business cycles.
More About Northern Kentucky
To learn more about Northern Kentucky, go to the following links:
|