Florence’s first-quarter 2026 economic development report shows the city is leaning into retail expansion, hospitality projects and residential growth.
The city reports more than 2,000 businesses operating in Florence and more than 700 new business applications annually. The population sits at 33,129 with a median household income of $69,112. The city’s unemployment rate was reported at 4.7% in Quarter 1, while the overall market vacancy was 5.7%.
“Our city remains committed to attracting, retaining, and supporting
businesses of every size and industry, recognizing that economic development is
essential to maintaining a strong community and a high quality of life for our
residents,” Mayor Julie Metzger-Aubuchon wrote in the report.
Among the largest active commercial projects:
- Publix’s 55,000-square-foot grocery store at U.S. 42 and Farmview Drive remains under construction and is expected to open this summer.
- Total Wine & More is building its first Northern Kentucky location at 7646 Mall Road with a projected summer opening.
- IKEA is bringing a smaller “Plan and Order Point” concept to Mall Road, marking the company’s first NKY location. The store is expected to open this spring.
- Floor & Decor plans to take over the former JoAnn Fabrics space on Spiral Drive for its first Northern Kentucky store.
The report also highlights continued investment in Florence’s hospitality sector, with multiple extended-stay hotel projects in the pipeline:
- A proposed seven-story Residence Inn near Meijer Drive would include 124 units and become one of the tallest buildings in Florence.
- LivSmart Studios by Hilton, Everhome Suites and Woodspring Suites are all in various stages of site review. Combined, the three projects would add 335 hotel rooms to the market.
Housing development remains active as well:
- The Glenns at Gunpowder includes plans for roughly 284 multifamily units and 26 single-family homes following a 28-acre annexation into Florence.
- Avalon Square’s 135-unit townhome project is nearing completion.
- Parkview Senior Apartments is adding 76 senior living units on Farmview Drive.
Several restaurant and quick-service concepts are also advancing, including Jaggers, Dutch Bros Coffee, Mi Cozumel and a second Florence-area 7 Brew Coffee location.
Completed projects during the quarter included:
- High Stakes Harley-Davidson’s expanded showroom on Meijer Drive
- Personal Touch Home Care’s relocation from Fort Thomas
- New childcare centers Pathways Learning Academy and Tykes Academy
- Kay Jewelers’ relocation on Mall Road
- Lita’s Tacos’ new Houston Road location
The city also reported completion of a $6.6 million Verst Group expansion project that added 17 jobs.
Other notable projects include a new Wawa approved at U.S. 42 and Hopeful Church Road and a proposed Planet Fitness near Express Street.