The City of Covington has announced that nine local businesses will receive support through its Small Business Program. This initiative includes rent subsidies, façade improvements, and historic electric light incentives aimed at encouraging private investment and job creation.
The Covington Board of Commissioners recently approved these incentives during the fourth round of funding for this fiscal year. The program allocates $150,000 annually to assist new businesses with first-year rent and help property owners enhance their building exteriors or restore historic electric signs.
"Our Economic Development team works hard to make it easy to do business in the city and we want to help businesses continue to thrive and grow," said Patrick Duffy, Covington's Business Retention and Expansion Manager.
Business owners expressed appreciation for the program's impact on their growth. Meredith Frickey, owner of Pilates on Pike, noted that the financial assistance helps alleviate initial costs. "I am beyond grateful to be a beneficiary of the program," she said. "The contribution to my rent alleviates the financial burden for the first year."
Frickey also praised the straightforward application process: "Patrick [Duffy] communicated transparently about what to expect as my application was under review."
Lindsey Whittle, co-owner of Pique Art Gallery, highlighted how façade improvements will benefit her business. "A façade makeover at 210 W. Pike St., generously supported by the City of Covington, will help Pique reflect the creativity and community we cultivate inside," Whittle stated.
The total incentives awarded amounted to $55,500 covering four façade projects, four rent subsidies, and one historic electric sign restoration:
- Façade Incentives:
- $6,000 to Sparkezilla for a project at 210 Pike St.
- $6,000 to Mugsy Development for work at 326-328 Pike St.
- $6,000 for improvements at 341-343 Pike St.
- $6,000 for renovations at 701 Madison Ave.
- Rent Subsidies:
- $6,000 each for Feel Something LLC (3706 Decoursey Ave.), Pilates on Pike (33 Pike St.), Goods (33 Pike St.), and Breathe Wellness Studio (118 W. Pike St.).
- Historic Electric Sign:
- $7,500 awarded to NKY Port Authority dba Sparkhaus for preserving a sign at Sims Furniture building located at 721-731 Madison Ave.
Since its inception in 2017, Covington's Small Business Program has supported over 172 businesses or projects.
For further information about the program or application process inquiries can be directed towards Patrick Duffy via phone or email.