The Northwest Kentucky Forward Annual Report for FY 09–10 (year ending 30 June 2010) is now available. Among the highlights are the following:
- Major Reinvestment at Rio Tinto Alcan;
- Location of software developer IWT;
- 150 project leads
- 22 active projects
- 100% visitation of all qualified existing businesses
- 9 expansions
- $2 million for training
- 35 Jumpstart and Micro-loans
- 42 new business start-ups
- Next Rally4Education scheduled for 6 November.
Over the last 12 months, capital investment by new and expanding industries in Northwest Kentucky has exceeded $60 million!
These investments have retained jobs at major employers like Rio Tinto Alcan, created new jobs through expansions at Sunrise Tool & Die and Brenntag among others, and created new jobs through new locations like at Innovative Workflow Technologies.
What a busy week it has been for economic developers in the Northwest Kentucky area! Insite Consulting, an economic development consulting service based in South Carolina, visited Northwest Kentucky Forward and Union, Webster and McLean counties to help develop opportunities and diversification for economic growth for the region.
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The EDA has awarded $450,000 to the Henderson City-County Air Board for the construction of two hangars totaling more than 15,000 sq. ft. The hangars would be used to service two companies, including Innovative Workflow Technologies which recently located in Henderson. The construction of the hangars was an important aspect of IWT locating its headquarters and data development center in Henderson.
The airport has become a growing part of the local economy following a series of investment by the community, state and federal governments including a new terminal and runway enhancements. Ron Collins Aviation Electronics located to the airport in recent years and Don Davis Aviation continues to expand as well.
KAN, the Kentucky Aluminum Network, has been asked to testify before the Kentucky Senate’s Natural Resources and Energy Committee this Wednesday. We are excited to again have an opportunity to tell Aluminum’s story and how important it is to the state to Kentucky’s leaders.
KAN is an association of aluminum producers, processors, suppliers and supporters that has recently been formed to promote the Aluminum industry in Kentucky. Aluminum employs nearly 15,000 in the Commonwealth and pays more than $100 million in taxes. Aluminum production in Kentucky represents approximately 1/3 of the nation’s AL production.
Governor Beshear will be in Henderson on Friday at 11:30 for an exciting announcement. We will post more in the coming days but please join us at the Sullivan Technology Center at Henderson Community College on Friday!
Is economic development a zero sum game? Is there only one winner and many losers? Can areas partner together yet still be competitors?
At Northwest Kentucky Forward, we think the answer to all of these questions is YES! NWKF is working with the Greater Owensboro EDC, the Economic Development Coalition of Southwest Indiana, Richland County (IL) Development Corp, along with other partners in a new initiative call Regional Economic Network.
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Over the next few weeks, Northwest Kentucky Forward will be marketing the region to prospective companies and consultants at shows in Las Vegas and in a mission to Montreal, with consultant calls planned for Chicago and the Washington, DC, area.
Northwest Kentucky has a great story to tell and we are committed to getting the word out to businesses on the opportunities available in this region!
Through our partnership with KentuckyUnited, NWKF recently participated in a marketing mission to Texas. We joined with approximately 10 ED pros from throughout the Commonwealth to meet with site selectors and prospective companies in Dallas, Austin and Houston about the opportunities available in Kentucky.
This is the third Marketing Mission KentuckyUnited has sponsored, and all have been great successes. All have increased the awareness of the state and allowed us an opportunity to tell decision makers about Kentucky’s new incentive programs.
Just from our team, I think there are at least 3 projects and excellent meetings with several site selection firms.
Kentucky’s new Secretary for Economic Development, Larry Hayes, promised to partner with lead economic development organizations like Northwest Kentucky Forward in a renewed effort to advance the Commonwealth.
Secretary Hayes, who previously was Secretary of the Executive Cabinet and has served as interim ED Secretary for nearly year, spent most of Tuesday in Northwest Kentucky in one of his first official roles since being named Secretary the previous Friday.
The Secretary understands what needs to happen for Kentucky to be successful and the partnerships that are vital for Kentucky communities to thrive. NWKF is excited about his appointment and looks forward to working with him in the days ahead.