Friday, August 03, 2001
N. Ky. putting the 'knew' in New Economy
By James McNair
The Cincinnati Enquirer
Coming off a decade of success in spurring economic development, Northern Kentucky business leaders and institutions are now banding together to make the region a bigger player in high-tech industries.
The group, dubbing itself the New Economy Transition Team (NETT), unveiled a 73-page plan Thursday that outlined a wide range of goals. The plan calls for Northern Kentucky to become a center for life sciences and information technology, but also for advanced manufacturing and financial services.
We think the key to developing the New Economy in Northern Kentucky is to make sure we've created an atmosphere in which startup entrepreneurs can not only survive, but thrive, said Keith Johnson, a Cincinnati lawyer who serves as NETT's co-chairman.
All of the entities participating in NETT already have regional interests at heart. The Northern Kentucky Chamber of Commerce, Northern Kentucky Tri-County Economic Development Corp., Northern Kentucky University and the Madison E-Zone technology incubator in Covington each offer programs aimed at helping the NETT cause.
It's a major step forward for our community, said Danny Fore, president of the Northern Kentucky Tri-ED. It represents a refinement or escalation of projects that are already under way.
Mr. Fore said his group is emphasizing recruitment of companies from the West Coast and Washington, D.C., area.
Far-fetched as that might sound, companies in places such as California's Silicon Valley will be receptive to the region's overtures, said Larry Sabo, finance director for Campbell County Fiscal Court, a recent Silicon Valley evacuee himself.
It's not just about economic incentives, he said. It's streamlining the permitting process. It's letting CEOs know there are educational and cultural opportunities for their families. It's letting companies know they're appreciated.
Once you have a plan, you have private and public cooperation and intergovernmental collaboration. That says a lot to people and is noticeable to companies.
Although the Kentucky Legislature has set aside $50 million to jump-start New Economy efforts statewide, it's too early to say how much Northern Kentucky stands to receive. The important thing, Mr. Johnson said, is to position the region for the industries it wants to grow and attract.
This is not going to be a plan where we roll out four or five ideas that are vague and say, "This will be the New Economy plan for Northern Kentucky,' he said. We want to be held accountable for making sure this plan is accomplished and Northern Kentucky becoming the New Economy hub we think it can be.
Northern Kentucky has several factors in its favor: an international airport, a university with master's programs in computer science and information technology, and cheap land. On the other hand, the region is a technology backwater and must overcome the pall of Cincinnati's racial tensions.
Competition is another factor. Virtually every city in the United States is trying to transform itself into a high-tech mecca. And Butler County is preparing to spend $100 million in five years to stake its claim as the region's techno-center.
Mr. Johnson acknowledged the need to work with groups in Ohio and rural Kentucky.
We're not operating in a vacuum on this, he said. We'll be working with Greater Cincinnati and with the Commonwealth of Kentucky. If there's ever been an issue that cried out for regionalism, this is it.
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