Local government in Covington modifies Small Business Support Initiative to enhance aid for local enterprise development
The City of Covington has recently updated its Small Business Incentive Program, making investing in commercial properties in the city easier and more rewarding, as announced on July 2025. The program offers crucial support to local businesses through three primary categories of incentives: rent subsidies, facade grants, and sign grants.
In the latest allocation, several businesses received $6,000 rent subsidies, including vintage stores, wellness studios, and exercise studios located primarily on Pike Street and Decoursey Avenue. These subsidies aim to bolster the entrepreneurial landscape by supporting projects that get small businesses off the ground. Since 2017, the city has supported 162 projects through these incentives.
For businesses interested in participating, the application process typically involves contacting the City of Covington's economic development department, which oversees the program. Businesses are required to submit proposals or applications demonstrating their project's potential to contribute to Covington's entrepreneurial and commercial growth and qualify under one of the incentive categories.
The updated program includes increased award amounts and streamlined, user-friendly forms, making the application process more efficient. For example, the maximum forgivable loan amount for Facade Improvement projects has increased to $10,000, and the maximum reimbursement for Historic Electric Signage projects has also increased to $10,000, with a reduced private match requirement to 20%.
Businesses applying for the Facade Improvement Forgivable Loan or the Historic Electric Signage Incentive must meet with the Historic Preservation Office by Friday, July 25 to qualify. The deadline for submitting completed applications for all City of Covington's incentive programs is Thursday, August 8.
One business that has benefited from the Historic Electric Signage Incentive is Herb & Thelma's Tavern, which restored its iconic 1960s Wiedemann neon sign using the City of Covington's Electronic Sign Grant. The process for applying for the grant was simple and efficient, with all involved in the application process being helpful.
The City of Covington's Economic Development Department's Incentives & Resources page provides more information about these and other incentives. For the most current application details and requirements, prospective applicants should reach out directly to the City of Covington's official economic development office or visit their website/social media channels where they regularly announce program updates.
If you are a small business owner interested in applying, your best next step is to visit the City of Covington’s economic development webpage or contact them directly for the latest application forms, eligibility criteria, and deadlines.
- Here's an example of a small business in the home-and-garden sector that could benefit from the City of Covington's Small Business Incentive Program: a new flower shop on Madison Avenue.
- The updated incentive program in Covington offers personal-finance solutions for small-business owners seeking to invest in home-and-garden ventures, such as landscaping or interior design service providers.
- The increased award amounts for Facade Improvement projects present a significant opportunity for lifestyle-focused businesses like boutiques or high-end coffee shops to enhance their storefronts, drawing more customers and providing a better living experience for residents.
- The City of Covington's Small Business Incentive Program extends beyond commercial development, supporting wellness studios and personal-finance endeavors that contribute to the overall well-being and financial stability of the local community.
