BE NKY Growth Partnership team members attend many conferences throughout the year to increase their skills and knowledge, gain new insights, and network with other key players in the economic development industry.
Vice President of Economic Development Kimberly Rossetti, Client Relations Manager Jeremy Worley, and Client Relations Specialist Lauren Mulcahy recently attended the Kentucky Association for Economic Development’s Collaboration Conference in Louisville.
Below are three of their key takeaways:
- Sites (real estate) remain the biggest factor in site selection for companies looking to potentially locate in Northern Kentucky. Top site considerations include site readiness, available acreage, available workforce, and renewable energy availability. Sites that are prepared and shovel ready will stand out, and it is important for communities to prepare sites now for future utility needs. Water and wastewater capacity remain top challenges in the state. For more information about the importance of sites to companies’ selection decisions, visit https://bit.ly/3Z286d2.
- Kentucky is the #1 producer of passenger vehicles per capita in the United States and $1 out of every $11 in the state’s economy is tied to the automotive industry. Northern Kentucky needs to begin preparing now for projects that could be won in 5-10 years, especially those pertaining to the electric vehicle (EV) battery industry. Kentucky is a national leader in the emerging EV sector, which includes battery production, battery recycling, and parts production. Just a few weeks ago, Kentucky announced another investment in this sector as Microvast Advanced Membrane Inc. plans to locate a new facility in Hopkinsville, creating 562 full-time jobs. Over the next 10 years, there will be numerous opportunities for communities to build out EV battery suppliers at all levels. Northern Kentucky cannot afford to waste this opportunity for a historic investment in this growing sector of the economy.
- There is an abundance of resources in the state to connect businesses with one another, and new ones are always being created. CONNEX Kentucky (https://kam.us.com/connexkentucky/) is a new online platform that connects Kentucky manufacturers into a single, accurate, and searchable supply-chain solution. The goal of this initiative is to boost job growth, reduce costs, and provide more security in the supply chains of Kentucky companies. Kentucky’s Minority-Owned Business Database (https://www.mbdky.com/) is the first-ever platform in Kentucky that includes all certified minority-owned businesses in one location. This database pulls together the following certification lists: the Kentucky Transportation Cabinet’s Disadvantaged Business Enterprise certification, the Kentucky Finance and Administration Cabinet’s Minority and Women Business Enterprise certification, and the City of Louisville’s Minority Business Enterprise certification. Users of the database can find and filter businesses by name, location, service provided, and certification type.
Rossetti, along with City of Covington Economic Development Director Tom West, invited conference attendees to KAED’s Kentucky Economic Forum this October, which will take place in Covington and showcase the Northern Kentucky region. For more details, visit https://bit.ly/3KWgXYA.