Posted: April 25, 2019
Shopping for your ideal business location can be exciting, challenging and wearisome. Of course, a business needs to be profitable, but what about exposure, talent retention and support? As new investments continue to grow into Covington, Kentucky, we've identified 5 reasons why businesses are moving here.
1. Location, location, location – We can’t say it enough! No one wants to spend their day driving multiple hours to/from work. Covington is centrally located in the tri-state. It’s close proximity to the Cincinnati/Northern Kentucky International Airport gives you access to anyone/anywhere. Five universities are within 10 miles and Gateway Community College is located in the business district in Covington. Look no further for the next talent pool.
2. Access- Business meetings take place at restaurants. Friends and co-workers meet for lunch and after hours. Covington has a variety of hotels, restaurants, entertainment options, and let’s not forget, the NKY Convention Center. In addition, there's an abundance of community events and most important, it’s all walkable! When CTI Clinical Trial & Consulting was looking to relocate their headquarters, they polled current employees and determined that center city was critical. CTI's CEO Tim Schroder was quoted in the Northern Kentucky Tribune, "We are looking forward to quickly becoming integrated into the community and making CTI a well-known and well-respected partner."
3. Urban Community – Perhaps RoadiD said it best! The company was outgrowing their headquarters and shopping for a new location. “We wanted to take the opportunity to find that perfect place. We desired to move away from an industrial park setting and into an urban community environment. We also wanted a building that not only gives us more space, but has character and charm. Someplace that enhances who we are… After a lot of searching and some serendipitous events, we found it - a historical building in the heart of Covington, KY.”
4. City of Covington - The City wants your business to grow and thrive! The city offers several incentives to grow your workforce, keep operating costs low and renovate commercial space. View the details at https://www.covingtonky.gov/business/opportunities/incentives
5. Business Support and Advocacy – If you are looking to develop business connections with other leaders and influencers, invest in the Covington Business Council! We offer over 100 events a year to foster those essential business to business relationships. Contact CBC Executive Director Pat Frew at 859-431-1500x1 or firstname.lastname@example.org for additional information.
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Posted: March 30, 2019
Many times a particular industry fails to receive the credit it is due related to community impact because many of its jobs may not be highly skilled and accordingly don’t pay all that well and affect payroll taxes.
Take the hospitality business, meaning hotels, attractions and restaurants. While some of those jobs may be lower paying the economic impact of visitor spending is undeniable. That notion was driven home with the recent annual report of the Northern Kentucky Convention Bureau known now as meetNKY. In fact, tourism in the region is now a FIVE BILLION DOLLAR business. In 2018, meetNKY surpassed its all-time record for hotel occupancy at nearly 73%. These numbers are incredibly important with Covington hosting a half dozen of the largest hotels meetNKY services.
Further convention and event demand remains strong with $53 million in future convention bookings are confirmed. Many of those meetings will be held at the Convention Center in Covington. Tour and travel groups brought more than 18,000 room nights to NKY last year.
meetNKY President Eric Summe and his staff are to be applauded for their efforts and with initiatives such as the BLine and its four Kentucky Bourbon Trail Craft Tour distilleries, five bars and five restaurants spawning our area’s first ever bourbon convention this fall, the results should only grow stronger.
It’s achievements like this that make it more important than ever that the Covington Business Council and other area agencies, Renaissance, Catalytic Fund, Southbank Partners, and many more continue to work together to make Northern Kentucky’s largest city as vibrant as possible.
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