Small businesses located in Covington have until July 19 to apply for one of the city’s economic development incentives, which are aimed at helping small businesses locate and start up in the city.
Covington hopes to award about $35,000 during this round under a competitive application process, according to a recent city announcement. Three types of incentives are available:
- Up to $500 a month for first-year rent.
- A forgivable loan of up to $6,000 to match investment dollar-for-dollar in façade improvements to a commercial building.
- A forgivable loan of up to $7,500 to restore a historic electronic sign.
Application cycles will occur four times throughout the current fiscal year, which began on July 1 and extends to the end of June 2025. Last fiscal year, the city invested a total of $113,424 in 20 businesses and has offered incentives to 148 local businesses since the program began in 2017.
“I strongly encourage people to apply,” said Covington Business Retention and Expansion Specialist Patrick Duffy in a press release. “This is real help for businesses in areas where they can use a boost.”
Interested parties can contact Duffy at (859) 292-2141 or at PDuffy@covingtonky.gov with questions. Applications and guidelines for the programs can be found at the city’s dedicated webpage here.