Newport held its state of the city address Wednesday, offering a year in review.
Newport City Manager Tom Fromme gave the annual address at the BB Riverboats Rivers Edge Event Center and began by talking about the city’s ability to bounce back from hardships.
“The past few years have been difficult and challenging, but we are actually seeing the light at the end of the tunnel,” he said. “It is at times like this that we see how resilient our community actually is.”
Part of that success Fromme talked about was the business growth they have had in the last year. The city gained a net of 53 new businesses and 307 new employees. The top five employers who moved into the city were MegaCorp Logistics LLC, Amador Cuban Restaurant, Tropical Smoothie, 16 Lots Southern Outpost and Biggby Coffee.
Fromme talked about the last 20 years of losing businesses like Kmart, XPO, and the Newport steel mill, which he said was well over 2,000 jobs.
“All those blue-collar jobs, well-paying jobs that we lost when you take that period, and we’re still set up to be successful purely as a testament to Newport’s resiliency,” Fromme said. “I think it’s important to recognize that.”
Fromme said that over the last few years, the city’s net payroll revenues have increased, which was critical since payroll taxes are the primary source of revenue, accounting for approximately 32% of the city’s budget.
Newport has an A+ credit rating and is building a cash balance of $5.12 million on an annual budget of approximately $25 million.
“We cherish the large companies and the small ones,” Fromme said. “A one-person operation or a two-person operation is just as important to us as a 500-person. There’s room in Newport for every size.”
Fromme highlighted one change in the city: the separation of its code enforcement and planning and development departments. The Newport Planning and Development Department has three full-time level three building inspectors, which allows them to inspect commercial properties at the city level and not wait months for state approval.
Fromme told LINK nky in September that it was crucial for the city to be able to do inspections for sites like the Ovation development. That expanded jurisdiction is something Fromme said a lot of communities don’t have.
Some development and infrastructure projects that have begun or are set to take place include a mixed-use hotel and office building planned for the site adjacent to the World Peace Bell. There are also plans to redevelop from 11th Street to Southgate to have underground utilities, better stormwater control, and a 10-12 foot pedestrian/cyclist path. Construction for that project is expected to begin in the spring.
Work is also continuing on Ovation, the $1 billion, 25-acre urban mixed-use development, with the condos just being listed for sale this week.
Other projects in the works or recently completed that Fromme talked about were:
- The naming of the Buena Vista Local Historic District
- The adoption of the Newport Entertainment District
- Homearama held at Martin’s Gate—the first time the event has been held in Northern Kentucky
