NKY Regional Target Industry Cluster and Workforce Analysis Launches
The Northern Kentucky Tri-County Economic Development Corporation (Tri-ED) announced Thursday that it was awarded a $50,000 grant from Duke Energy to undertake a target industry and workforce analysis.
The goal of the study is to gain a clear picture of the current business landscape and inform business growth, attraction and workforce development strategies for Boone, Campbell and Kenton counties, a news release said.
“Through data and analysis, Tri-ED is focused on building prosperity and a successful economy that benefits all Northern Kentuckians,” said Tri-ED President and CEO Lee Crume. “The report will provide a road map for Tri-ED’s business growth efforts and guide us as we partner with our region’s companies and education institutions to prepare the workforce that businesses will need to succeed here.”
Rhonda Whitaker Hurtt, vice president of community relations & economic development for Duke Energy Ohio & Kentucky said that the report will provide insight on the types of development and energy needs the region will have in the future.
“With an updated analysis of industry clusters that integrates regional and national trends that will impact Northern Kentucky, Duke Energy and Tri-ED will work together to make sure the region is ready for future investment,” said Whitaker Hurtt. “I also look forward to the deep dive on workforce and how Northern Kentucky can prepare for our business community’s future needs.”
“Business and consumer demand has evolved due to COVID-19 and new technology innovations. The Amazon Air hub and cargo volume at Cincinnati/Northern Kentucky International Airport (CVG) will certainly impact our industry clusters. We believe this is a good time to understand our current landscape and identify industries that will see growth in the future so we can be specific in business attraction and workforce development,” said Crume.
The target industry analysis, conducted by EY, will include cluster and workforce flow analysis and is expected to be completed and presented by December 2021. The report will be made public.
In 2018, Tri-ED released a report by Prager Co. to revamp the economic development company prior to hiring President and CEO Lee Crume in 2019. The most recent target industry analysis for the three-county region was conducted by Site Selection Group in 2016 and identified six industry clusters and 23 industry subsectors.