Cincinnati’s Complete Business Advantage
(Part 3 of 3 in REDI Cincinnati’s Target Industries Blog Series)
Whether a business is exploring relocation options or trying to decide on the right next place to grow operations, the question of “where” is a weighty one. There are numerous factors to consider, chief among them operational realities, the area’s industry ecosystem, and the quality of life a region offers for a business’s workforce. Sustaining an economically successful organization is any business’s core challenge. And a strong pipeline for trained talent is key to realizing economic success. In many instances relocation is imperative to both propel and sustain growth.
REDI Cincinnati’s recently created Talent Gap Analysis dug into the Cincinnati MSA’s existing advantages in the area of local talent as well as revealing some occupations and training opportunities our region can strategically target to strengthen. The report found that our region is positioned to support the growth of a number of industries, and the trained in-region talent for our four targeted industries, aerospace & aviation; chemical & materials manufacturing; life sciences; and food, flavoring, and beverage, is strong, supported by a robust educational community dedicated to providing graduates trained for employment in in-demand areas.
Considering moving your business to Cincinnati? Here are some reasons our region is the right choice.
Operational Advantages
When it comes to the operational realities of day-to-day business functions, the Cincinnati region has numerous advantages to help your operations find long-term success.
For starters our region is seriously competitive when it comes to the cost of operating a business. Across the three states that comprise our MSA, Ohio, Kentucky, and Indiana, business taxes are low compared to other metropolitan areas, and numerous exemptions, credits, and grants offer even more incentive to pursue operations within the region.
Another huge operational advantage is Cincinnati’s premier location. The Queen City has always had geography on its side, sitting at the intersection of the Ohio and Licking rivers. Moreover, our city is within an eight-hour drive of 60% of the U.S. and Canadian population and a 90-minute flight from 66% of all major U.S. and Canadian markets, meaning businesses can move products to customers across the nation in less time, at less cost.
CVG is a crown jewel within our region, an international airport:
- Named Best Airport of 5 to 15 Million Passengers in North America by Airports Council International World.
- 7th largest cargo airport in North America
- Home to Amazon Air’s primary U.S. Hub and DHL Express’ Global Superhub for the Americas.
- Two nonstop flights to Europe – the only airport in the tristate region,
- When it comes to transporting goods to various markets, the Cincinnati MSA is managed by a strong logistics sector located right here in our region.
And what connects your business to these logistics hubs? Cincinnati’s robust infrastructure. The Cincinnati MSA is serviced by three major interstate highways, two class-A railways and two active Foreign Trade Zones. Bridges spanning the rivers at the heart of this river town are impressive regional access points, with the upcoming Brent Spence companion ridge project set to greatly improve transit between our various communities even further.
Infrastructure is about more than just moving goods, though. Ease of transport is also a key employment benefit for a workforce. and mass transportation providers Cincinnati Metro and TANK help people get where they’re going efficiently and reliably.
Industry Ecosystem
Getting work done just works in our region, and that’s in large part due to the industry ecosystem that has exponentially expanded over time on the banks of the Ohio River. A large percentage of supplies required for operations within our four targeted industries, for example, are made here in our region. This ease of access to necessary parts and products means reduced shipping costs, quick and reliable delivery, and, for affected industries, fewer tariff costs to consider.
And the inverse for businesses operating in our region is true, too – the region’s rich ecosystem is filled with potential customers. Consider products from 80 Acre Farms, the first fully automated indoor farm in the U.S., that are sold in Kroger grocery stores. 80 Acre Farms benefits from operating in the same region as the headquarters of one the country’s largest grocers. Kroger benefits from an in-region supplier they can source from. And consumers can easily purchase regionally grown 80 Acre Farm products at their neighborhood grocery store.(It This 80-acre site benefits from a strong, strategic relationship with Kroger, creating unique opportunities for coordinated growth and supply-chain alignment.
This is what we mean by the benefits of Cincinnati’s thriving industry ecosystem. REDI Cincinnati strategically works with companies looking to move or expand in our region, helping them find critical connections within the region while leveraging and optimizing Cincinnati’s strong economic network.
And finally, the cornerstone of any healthy ecosystem is a workforce that supports daily operations. We’ve looked at some of the educational advantages and upskilling opportunities our region provides, ensuring a trained workforce to meet the exact needs of our core industries. But, in terms of sustainability, it’s important to note that people love living and working in Cincinnati, meaning businesses that operate within our market have built-in benefits when it comes to talent retention.
Community & Quality of Life
When we partnered with Lightcast on our Talent Gap Analysis, we of course wanted to know what areas existed for improvement and some ideas for making our local economy even stronger. But we weren’t surprised when the report identified how much people enjoy living in our area and the benefit this has for employers looking to attract and retain talent.
The report highlights something that those of us who live in Cincinnati know well, The region is a fairly affordable place to live. Queen City workers don’t require sky-high metropolitan salaries to maintain comfort and enjoyment, meaning businesses in our region can pay employees well without allocating outsized financial resources to payroll. It’s really a win/win for workforce and industry.
And people want to establish their lives in Cincinnati for more than just job opportunities. Our region offers up a leading food scene these days, acting as homebase for innovative chefs such as David Jackman, whose Wildweed restaurant has earned accolades from the likes of Bon Appétit, The New York Times and Esquire. (Plenty of people are fond of our chili, too.) Cincinnati is home to three major league sports teams and boasts numerous art museums, theaters, and cultural events like BLINK, the nation’s largest public light and art event. And Cincinnati Parks alone manages more than 5,000 acres in recreational space for communing with nature.
But really, it’s the people that make this region so great. And businesses that set up operations in our region come to understand our people are more than talent, more than a workforce – they’re what make our region so undeniably successful, and they can quickly become the heart of your business.
Ready to learn more about this special place and the remarkable population? Connect with REDI today for a customized business case.
Read part 1 of this series: Where Talent Meets Industry
Read part 2 of this series: Building the Workforce of Tomorrow in Cincinnati