How do we ensure our children and grandchildren can achieve the American Dream? The BE NKY Growth Partnership team strives every day to provide “opportunity and prosperity for all Northern Kentuckians.” We market and promote Northern Kentucky as an ideal location for new or expanding businesses, and we assist existing local companies to expand operations and grow their customer base.
Northern Kentucky is a prosperous, growing community. BE NKY has a long history, since our founding in 1987 as Northern Kentucky Tri-ED, of bringing quality companies and good-paying jobs to our community of Boone, Kenton, and Campbell counties. Over the last 38 years, our organization has succeeded in bringing to the region
- 799 business projects
- more than 77,036 primary industry jobs
- capital investment of nearly $10.2 billion
Prosperity in our three-county region is not guaranteed. There are 387 communities (Metropolitan Statistical Areas in the U.S.) and hundreds around the globe competing for new corporate investment. Over the last two years, BE NKY has been leading the Community Competitive Initiative to inform our business and community leaders about the critical risks to our region’s future prosperity.
We interviewed more than 100 business leaders and released two reports: one analyzes our future population growth, and the other is “Charting a Course to a More Competitive NKY,” a study by national consultant Economic Leadership. The interview results and reports identified five critical needs in Northern Kentucky.
Five Critical Needs
- talent growth through attraction, retention and skill alignment
- coordinated planning and actions for housing and infrastructure growth
- creation and promotion of a recognized regional brand narrative
- leverage entrepreneurship as an economic development driver to diversify the economy and build regional wealth
- improve private, public collaboration to achieve desired results
- Population Growth is a Key Factor for Future Prosperity
Our region is currently growing in population while other areas of Kentucky are losing population. Companies want to be in a region where the population is growing because they will rely on it for their future workforce.
According to a recent report from Area Development, access to a skilled workforce is a major factor influencing where businesses locate. Population growth and job creation go hand-in-hand.
As shown in the following graphic, the newest Census data (July 2023–July 2024) shows that Kentucky’s largest metros continue to be the commonwealth’s key engines for growth:
- Jefferson, Fayette, and Warren counties topped the list with the biggest population gains
- Boone and Kenton followed closely behind—each welcoming about 2,600 new residents
But, while these counties saw large population gains, one-third of Kentucky counties decreased in population size over this same time frame. Overall, 94% of Kentucky counties are “treading water” or losing population.
Large corporate investments and the jobs they create fuel local business growth and job creation in the service sector – businesses like a dentist’s office, car dealerships, restaurants, hair and nail salons, boutiques, etc. If a community stops growing in population or corporate investment, these smaller, locally owned businesses will suffer and potentially close.
- Business Growth Fuels Public Services and Infrastructure Improvements
When businesses invest in a community, they generate tax revenue that supports public services. This community investment leads to:
- Better-funded schools
- Improved roads and infrastructure
- Increased public safety funding
- More community programs and recreational spaces
Leading communities throughout Kentucky and the United States are working to ensure they have sites with good infrastructure ready for companies that want to invest with a new location or expansion in their region. For example, Kenton County’s Site Readiness Initiative aims to ensure that land is available for businesses that bring high-paying jobs to Northern Kentucky. This ensures long-term economic stability.
Multiple organizations are collaborating on this initiative, including Kenton County Fiscal Court, Kenton County Planning and Development Services, and the Northern Kentucky Port Authority, a managed entity of BE NKY. To help shape strategy for this initiative, BE NKY has served as an advisor, sharing historical data on requests for information received from site selectors and jobs brought to the region by companies that chose to locate in Northern Kentucky.
The NKY Port also manages Kenton County’s site readiness fund which has made investments in SparkHaus in Covington, The Ormsby in Fort Mitchell and Niagara Bottling in Elsmere. These projects are transformational for the entire Northern Kentucky region.
- Community Economic Growth Improves Quality of Life
A growing business community supports local shops, restaurants, and entertainment options. Residents benefit from increased access to:
- Diverse dining and shopping experiences
- Expanded healthcare services
- More recreational opportunities, such as trails, parks, and cultural venues
One great example is the Riverfront Commons project in Northern Kentucky, which aims to enhance public spaces while supporting economic development. Kenton County is also developing a new 225-acre park in Independence and 350 acres of Ohio River shoreline property was purchased by the Boone Conservancy through a public-private partnership, which includes the Boone County Fiscal Court.
- Managed Growth Prevents the Downsides of Rapid Expansion
It’s understandable that residents don’t want their communities to experience the growing pains cities like Nashville or Austin underwent. Their rapid growth led to housing shortages and congestion. However, well-planned growth seeks to avoid these pitfalls by:
- Encouraging smart zoning and land use policies
- Ensuring infrastructure keeps pace with expansion
- Prioritizing affordable housing solutions alongside business investment
Data-driven community decision-making programs outline strategies that communities can adopt to remain attractive to businesses while preserving their unique character. By following these principles for economic development and communities, growth can happen in a way that is sustainable and beneficial to current and future residents.
- Growth Helps Keep Communities Affordable
One of the unintended consequences of stagnant growth is an increase in the cost of living. Without new businesses and housing developments, existing homes become more expensive, pricing out long-time residents. Managed community economic growth allows for:
- New housing options that prevent housing shortages
- Competitive wages that help families afford living expenses
- Balanced economic development that keeps property taxes reasonable
A 2024 study from Site Selection Magazine found that communities that embrace growth tend to have an overall lower cost of living compared to cities that reject growth.
Since 2019, BE NKY has
- won more than 120 location or expansion projects
- generated $1.78 billion in capital investment
- announced more than 10,000 jobs
Each year, BE NKY sets a wage average target, and in 2024, the jobs announced had an average wage of $66,049 and total compensation of $82,966.99. Our vision, that our team works toward every day, is Opportunity and Prosperity for All Northern Kentuckians.
We will continue to pursue corporate investment for our community that supports our vision and will support continued growth so that our region’s children and grandchildren can achieve the American dream.
