REDI updates strategic plan focusing on job creation and global competitiveness

Hamilton County's economic future took center stage during the recent Commissioners Staff Meeting, where Kim Lauterbach from the Regional Economic Development Initiative (REDI) unveiled a new three-year strategic plan aimed at boosting job creation and capital investment across the region.

Lauterbach emphasized REDI's commitment to fostering a diverse and inclusive economy, highlighting the organization's role as a key player in the economic development landscape. With a focus on attracting and retaining businesses, REDI aims to position the Cincinnati region as a competitive destination for talent and investment. The strategic plan, dubbed the "3 by 3 strategy," outlines three bold goals: booming business, a unified global brand, and prioritizing engagement and inclusive growth.

In 2024, despite economic uncertainties, REDI successfully facilitated over 4,000 new jobs and secured more than $1 billion in capital investment for the region. Notably, 20% of these wins came from foreign-owned firms, underscoring the importance of international partnerships in local economic growth. Lauterbach pointed out that Hamilton County has been a significant contributor, with nearly 1,000 jobs added in the past year alone.

The meeting also spotlighted the importance of collaboration among local governments, utilities, and educational institutions to create a vibrant economic ecosystem. Lauterbach encouraged community leaders to leverage available resources, including the JobsOhio small business grant program, which has proven vital for underrepresented businesses in the area.

As Hamilton County continues to navigate the complexities of economic development, the strategic plan aims to ensure that growth benefits all residents, reinforcing the region's reputation as a welcoming and diverse hub for business. The next steps involve implementing targeted marketing strategies and enhancing partnerships to attract new industries, particularly in life sciences, aerospace, and advanced manufacturing.