Study: This Had $1.9 Billion Impact on Northern Kentucky in 1 Year
A study from Northern Kentucky University's Center for Economic Analysis & Development showed a $1.9 billion impact in the region credited to the work of the Northern Kentucky Workforce Investment Board (NKWIB) and the Kentucky Career Center.
When a job seeker has the required qualifications and is placed into an available job, a placement by NKWIB releases payroll dollars into the local economy which in turn supports increased economic activity, a news release said.
The NKWIB directs the work of the Northern Kentucky Career Center system, and manages the financial resources of approximately $4 million a year to deliver those much needed services. The NKWIB wanted to know the economic impact of its job placements attained through the Career Center. To arrive at the answer, NKU’s Center forEconomic Analysis & Development conducted an analysis.
The report of the 2013 Economic Impact of Kentucky Career Centers for our area was presented this week:
- 1,900 job placements were directly staff-supported by the NKY Kentucky Career Centers.
- These placements supported an additional 1,285 indirect and induced jobs for a total of 3,185 jobs in the eight-county region.
- These jobs generated an estimated $129.4 million in labor income and $397.6 million in additional economic activity and spending in the region.
- 12,000 job placements were generated by the NKY Kentucky Career Center system. These resulted from services provided by the center including use of the area’s online job portal.
- These placements supported an additional 6,673 indirect and induced jobs for a total of 18,673 jobs in the eight-county region.
- These jobs generated an estimated $534 million in labor income and $1.4 billion in additional economic activity and spending in the region.
Photo: Ribbon cutting at new Kentucky Career Center in Covington (RCN file)