The life sciences industry in Northern Kentucky is quickly becoming one of the cornerstone industries in the region. Access to a talented workforce, economic development opportunities, cost-friendly real estate, and the proximity of collaborators are just some of the reasons why. In this article, we’ll take a closer look at how (and why) leading life sciences companies are making Northern Kentucky their home.

A History of Innovation

Throughout the years, the life sciences industry in Northern Kentucky has produced a number of firsts. Some of the leading life sciences innovations that have come out of the region include:

These, and other developments like them, lay the groundwork for a thriving life sciences industry in Northern Kentucky.

The Life Sciences Industry in Northern Kentucky: An Overview

Northern Kentucky is home to many life sciences organizations. They do business across a number of different sectors including: 

  • Biomedical research
  • Gene therapy
  • Medical device manufacturing
  • Health informatics

It’s an industry that has seen tremendous growth in the past decade and it shows no signs of slowing down. BE NKY estimates that life sciences growth will continue. Employment across life sciences jobs in Kentucky is expected to increase by 49.1% between 2020 and 2025.

This growth is being driven by companies like:

  • Thermo Fisher Scientific
    This biotechnology company in Kentucky is making a $59 million investment in the area that will result in over 200 new jobs.
  • Zeiss Vision Care
    A full-service eye care provider is growing their corporate workforce with over 75 jobs. This comes with a $20 million investment in the region.
  • Ethos Labs
    This CAP-accredited lab is growing with a recent commitment to a $2 million+ investment in its Newport headquarters.
  • OneNKY Center
    The 47,000-square-foot OneNKY Center in Covington illustrates support for the growth of the biotechnology industry in Kentucky. This innovation center, built with a mix of public and private funds will feature more than 11,000 square feet of lab space.

It’s not just companies that are benefitting from the growth of the industry. The projected average annual salary for jobs in this sector is over $84,000 a year.

Business Advantages in Northern Kentucky

There are three big reasons why Northern Kentucky has become an area for life sciences companies to grow.

  • Strategic location
  • Cost advantages
  • Business incentives

Let’s look at each one in more detail.

Strategic Location

The Northern Kentucky region has a number of factors that make it a perfect place to grow a business.

Cost Advantages

Biotechnology companies can receive a number of cost advantages in Northern Kentucky.

  • The lowest cost of living in major metropolitan areas as cited by the Bureau of Economic Analysis.
  • Industrial electrical costs that are 11% lower than the national average.
  • A fiber optics infrastructure that makes it one of the most-wired communities in the world.
  • A robust public transportation system and close access to rail, barge, trucking hubs, and the 6th-largest cargo airport in all of North America.

Business Incentives

Companies looking to expand their footprint in the life sciences industry in Northern Kentucky can do so with the help of any number of business incentives. These have been developed to help fuel growth and innovation.

  • Business tax incentive programs, like the Kentucky Business Investment (KBI) Program, help companies expand in Kentucky. Industrial Revenue Bonds (IRB) can be used to fund certain healthcare facilities.
  • Workforce Development Programs are designed to help employees build their skill sets.
  • Local Business Relocation Incentive Programs in Northern Kentucky carry opportunities that businesses can use to expand and grow with an initial low-cost output.

These incentives, and others like them, can be used to create a customized approach to business development. 

Startups that are considering establishing themselves in the region can do so with help from a number of specific funding and investment plans.

  • SBIR-STTR Matching Funds Program – The state’s Cabinet for Economic Development will provide matching funds to certain companies that have received Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) awards.
  • Commonwealth Seed Capital, LLC – Investments may be made in early-stage companies with a significant presence in the state.
  • Kentucky Enterprise Fund – Companies working to commercialize a technology-based product and/or process can apply for capital to accelerate that process.

This means that startups and established businesses can each utilize the tools the region has available in a way that works with their specific business growth plans.

Kentucky Biotechnology Companies Finding Success

The Northern Kentucky region is home to over twenty biotechnology/life sciences companies. These companies are leading their respective industry segments in developing and delivering cutting-edge medical research and healthcare innovations.  

An Expanding Success

Ethos Laboratories is one company growing successfully in the region. They are “a CAP-accredited, CLIA-certified, high-complexity laboratory that specializes in the highest-quality diagnostic testing.” Ethos recently developed a $2.2 million campus in Campbell County.

This growth is possible, says CEO Brian Kincaid because the state has a “…pro-business approach to spur innovation in the life sciences.”

Changing the Narrative in the Cancer Fight

Another of the life sciences companies calling Northern Kentucky home is Bexion Pharmaceuticals. Bexion “is a mid-stage clinical company developing life-changing treatments in Oncology and CNS.” Their research is proving vitally important in fighting colorectal cancer.

“We have some of the best (research) centers right here in our backyard,” said CTI CEO Tim Schroeder.

A Developing Partnership

CTI Clinical Trial and Consulting Services recently announced an exciting partnership with Cincinnati Children’s Hospital Medical Center. The $100 million dollar joint venture will be focused on the development of cell and gene therapy services.

Focused on the Future of Vision Care

A key supplier of optical products, the ABB Optical Group has expanded their footprint in the region. Their new lab, fabrication center, and distribution space supplies nearly two-thirds of the eye care professionals in the U.S.

What’s the Future of the Life Sciences Business in Kentucky?

There are three emerging trends in the life sciences industry in Northern Kentucky.

1. AI

The full transformative power of AI in the life sciences industry is still being explored. Many companies performing life sciences research in Kentucky are using AI to speed up data processing. This enables trials to proceed faster. AI is also used for:

  • Analyzing medical images
  • Genome research
  • Biomarker identification

2. Customized Treatments

While one could argue that medicine is personalized, a trend in the life sciences industry is to ensure that it is. The idea is to take all of the factors that contribute to who a person is and create a precision treatment plan that incorporates this data. This includes developing processes for:

  • DNA sequencing
  • CAR-T cell therapy
  • 3D modeling

3. Gene Editing

Several Kentucky biotechnology companies are currently investigating the possibilities that gene editing holds. New technology breakthroughs, like CRISPR, have pushed this treatment forward. Today companies are exploring the potential this treatment has in helping people with what would otherwise be life-threatening illnesses.

The Northern Kentucky region is poised to be at the forefront of this life sciences innovation. A big reason for that is the colleges and research centers nearby. In a 75-mile radius, there are:

  • 25 four-year colleges/universities
  • 11 community and technical colleges
  • Numerous regional universities

Government Backs Biotech Growth

The growth of Northern Kentucky biosciences business has come in part because of a dedication by local and state governments. They have established a number of business retention and expansion programs. These are backed by tax incentive programs. Those programs help businesses grow, employees gain new skills, and companies build new facilities.

Growing the Life Sciences Business in Kentucky 

In Northern Kentucky biosciences has become a cornerstone of the business community. By building on a legacy of medical care firsts, companies in the biomedical research, gene therapy, medical device manufacturing, and health informatics fields are continuing to innovate and grow.

BE NKY Growth Partnership supports these Kentucky biotechnology companies as they develop. They are introducing new life sciences companies into the Northern Kentucky region and helping existing companies grow. Learn more about how BE NKY is helping the expanding life sciences industry in Northern Kentucky.