Covington's Economic Development Department has published its 2024 Impact Report this week, highlighting significant achievements and ongoing developmental momentum. Susan Smith, the Covington Business Attraction Manager, stated, "The 2024 Impact Report demonstrates that momentum builds on momentum. It’s an exciting time for The Cov."
The report, presented in a video created by local design studio AGNT, reflects a year of distinct progress. Smith noted, “In pulling together the information, it was staggering to see all the recognition Covington received in 2024.” Covington gained recognition such as being named a 'Best Place to Live' by Money magazine and received several accolades including the Gold Award for Innovation in Economic Development and multiple awards for the Covington Academy of Heritage Trades.
Smith stresses that the report's narrative is more about sharing Covington’s potential as a vibrant community: “Ultimately, that’s the goal – creating a community where people genuinely want to call home.”
Key figures from the report include 514 new and retained jobs, $42.8 million in private investments, $136,000 in incentives to small businesses, and various city-organized events and company visits. Developments at the Covington Central Riverfront have progressed, with substantial projects and funding allocations from both state and federal sources, marking significant urban revitalization efforts.
Workforce development in Covington involved initiatives like the partnership with the Northern Kentucky Area Development District and the contributions from the Covington Academy of Heritage Trades, which offered scholarships and grants to support training and education.
Smith extended gratitude to the community and various stakeholders: “A big ‘thank you’ to elected officials, leadership and staff, businesses, developers, partners, and residents who all work toward making Covington what it is and what it’s becoming.”