Creating wealth and opportunity for Henderson, McLean, Union, and Webster Counties

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Creating wealth and opportunity for Henderson,
McLean, Union, and Webster Counties

• Report of Activities
• FY 06-07

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Overview
Northwest Kentucky Forward is a public-private
partnership that works to create wealth and
opportunity for the region. It is governed by a
22-member board of directors which includes the 4
Judge-Executives, the Mayor of Henderson, a
Kenergy representative, NWKF President, and 15
business/community leaders. The past fiscal year
(1 July 2006-30 June 2007) was the first full
year of operations for NWKF. Several key
initiatives and programs were begun during this
year, as well as the addition of two staff
members.
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NWKF Staff
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By the Numbers

• Total Budget -- Approximately 400,000 annually
• Approximately 1/3 public funds 2/3 private
• Business Attraction -- 81,500 (20 of budget)
• (Marketing, Travel, Prospect Visits)
• Business Retention -- 15,500 (4 of budget)
• (Programs, Training, Visitation)

NWKF exceeded its goal of 2 million in pledges
over 5 years in the Fourward Investing campaign.
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Business Attraction

• 32 Projects
• 13 Leads
• 21 Prospects
• 17 Active6/30/07
• 4 Marketing Campaigns
• 9 Marketing Missions
• 45 increase in unique web visitors

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Business Attraction

• 4 million in new investment
• 187 new jobs across region

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Business Retention

• Implemented first Program of Work for Existing
  Business
• 79 (95 of 122) of all qualified businesses
  visited
• 416,000 in training grants
• 13 Sponsored programs/trainings
• 13 million in investment by expanding
  businesses
• 300 new jobs from expanding existing businesses

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Business Development
As of 30 June 2007 53 clients across the
region 9 microloans approved or in process 2
other loan products in process
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What a Coal-to-Liquids Plant would mean to
Northwest Kentucky
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Economic Impact
Typical Project Initial Capital Investment 3.5
Billion Employment (direct operations) Manufact
uring - 300 Mining - 225 Total
- 525
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Economic Impact
Impact on 4-County Area Economic Impact of
Construction 5.2 Billion Annual Impact of
Operations 65.3 Million
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Economic Impact
Job Creation 4-County Area Ongoing Operations
Total Jobs 1,320 Direct
525 Indirect 795 Construction 3,000
Jobs for 3 years
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STATEMENT OF QUALIFICATIONS

• Younger Associates LLC is a market research and
  economic
• development consulting firm
• Established in 1990
• Provides services to businesses, professional
  groups,
• and governments
• Recognized by
• Economic Development Administration
• International Economic Development Council
• Southeastern Economic Development Council
• Other professional associations for the quality
  of work
• produced

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STATEMENT OF QUALIFICATIONS continued

• The methodology Younger Associates has developed
  for economic impact analyses is utilized in
  courses at the Economic Development Institute of
  the International Economic Development Council.
• This methodology has proven to be accurate,
  although slightly conservative, in projecting job
  growth and tax revenues.

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Other Projects Completed by YA

• Impact of the Memphis Chamber of Commerce
  recruitment program Americas Distribution
  Center. This analysis examined the cumulative
  impact of the ten-year economic development
  program.
• Assessment of economic impacts to be generated by
  two proposed mixed-use commercial developments in
  Knoxville, TN
• Projected economic impact of a Northwest/KLM
  Memphis/Amsterdam flight.
• Economic impact of St. Jude Childrens Research
  Hospital operations and capital investments for
  expansion.
• Analysis of operational and student spending
  impacts for Union University, Campbellsville
  University, Kentucky State University and
  LeMoyne-Owen College.
• Development of economic impact analysis models
  utilized by several county governments to
  determine the cost versus benefit of various
  incentives.
• Projected economic impact of Kentuckys Heartland
  Parkway
• Economic Impact of the Canadian National Railroad
  Superterminal.

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