N. Ky. officials predict 3,500 new jobs over 3 yrs - WDRB 41 Louisville News

N. Ky. officials predict 3,500 new jobs over 3 yrs

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ERLANGER, Ky. (AP) -- Economic officials in northern Kentucky are predicting that new companies that have moved to the area will create more than 3,500 new jobs over the next three years.

The Northern Kentucky Tri-County Economic Development Corp. attracted 22 new companies last year through its development initiatives. In the next three years, those businesses are expected to invest around $200 million in the local economy, according to The Kentucky Enquirer.

Tri-Ed plans to recognize the firms Monday at the Northern Kentucky University METS Center in Erlanger.

"The number of new and expanding companies in the region more than doubled from the previous year and businesses started investing again despite the economy," said Campbell County Judge-Executive Steve Pendery, chairman of Tri-Ed's board.

Primary jobs are defined by Tri-Ed as those created by companies when they hire new workers during an opening or expansion phase.

Indirect jobs are created as a result of new companies driving the need for additional services in the community.

Tri-Ed estimates that primary jobs paid, on average, $55,000 in 2010. More than 1,812 new primary jobs are projected by 2013, according to the group's president, Dan Tobergte.

The job gains are expected in manufacturing, information technology and the financial services industries.

Since 1987, Tri-Ed has attracted 512 businesses to move into or expand in Boone, Campbell or Kenton counties, creating about 50,300 primary jobs.

Civic leaders charged Tri-Ed in 2006 with creating 14,300 primary jobs by 2015.

Senior Vice President Karen Finan said the economic downturn in 2009 has not deterred the group from that goal.

The CEO of Pemco World Air Services, Wake Smith, said his company is looking to employ 300 workers by 2013 at the regional aircraft maintenance and repair operation it opened in October 2010 at the Cincinnati/Northern Kentucky International Airport.

The Tampa, Fla.-based firm currently employees 100 people and plans to boost employment as it grows. The company does mechanical repair work on regional aircraft with 50 to 100 seats.

The 2010 figures are up from 2009, when Tri-Ed reported attracting 10 companies with plans to create 1,286 jobs over three years.

"It shows that Northern Kentucky is pulling out of the recession," Tobergte said.

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