The program continues to activate commercial properties and support local business growth.
COVINGTON, KY – The City of Covington continues its commitment to supporting entrepreneurs, revitalizing commercial corridors, and strengthening neighborhood business districts throughout Covington. Small Business Incentive Program.
On Tuesday, June 23, the Covington Board of Commissioners approved the fourth and final round of FY 2026 Small Business Incentive Program funding, providing $28,000 to support four projects across the city.
The latest awards include a façade improvement project and three rent subsidy incentives that will help activate commercial properties, support new business growth, and generate new jobs and payrolls within Covington.
“These incentives are one of the many ways the City directly invests in the success of our small business community,” said Mayor Ron Washington. “From helping entrepreneurs establish roots in Covington to supporting the rehabilitation of historic commercial properties, these investments create long-term benefits for our local economy.”
The city’s fiscal year 2026 budget included $150,000 for the Small Business Incentive Program, which provides rental subsidies, façade improvement grants and historic electric sign incentives to eligible Covington businesses. The financing aims to encourage private investment, reduce barriers to business growth and support the activation of vacant commercial spaces.
Through the first three rounds of funding, the City awarded $77,729 to local businesses. With the approval of the fourth round recommendations, total appropriations for fiscal year 2026 now stand at $105,729.
Funds approved during fiscal year 2026 include:
- Round 1: $36,800
- Round 2: $22,800
- Round 3: $18,129
- Round 4: $28,000
After this round, $44,271 remains available in the Small Business Incentive Program fund for future rounds of applications.
The four approved projects leverage approximately $10 in private investment for every $1 of public investment and include the activation of a currently vacant commercial property, while supporting the growth of three new Covington businesses.
Round 4 prize winners
8 East 20th Street – Austinburg
A $110,000 renovation project will transform a vacant commercial building through major exterior and interior improvements. Planned improvements include new paint, lighting, signage, an awning, replacement of upper floor windows and reconstruction of the store front, while preserving the building’s historic prismatic transom windows. The upper floor will also be renovated into office space.
The City approved a $10,000 façade improvement incentive to support the project, which is being carried out by owner Joshua Landers.
Hubbard Strategic Partners – Mutter Gottes
Hubbard Strategic Partners is a veteran-owned boutique construction advisory firm specializing in owner representation, project management and development consulting services. The company recently signed a two-year lease for a previously vacant upstairs office space at 118 W. Pike Street and plans to hire two full-time employees over the term of the lease, generating approximately $250,000 in new payroll.
The City approved a $6,000 rental subsidy incentive.
Lewis and Grant Auctions – Plaza del Seminario
Lewis and Grant Auctions is an auction house specializing in the acquisition, valuation and sale of rare investment grade assets for collectors, institutions and investors. The company signed a five-year lease at 812 Russell Street and currently employs six full-time members, with plans to add at least three additional employees in the future. The company is expected to generate approximately $280,000 in annual payroll.
The City approved a $6,000 rental subsidy incentive.
Rivertown Vintage (ROVE) – Central Business District
ROVE is a new retail store specializing in carefully curated premium vintage women’s clothing. The business represents the third active retail venture in Covington for owners Kyle Wolff and Ray Vietti and further expands the city’s growing independent retail sector. The company signed a three-year lease at 617 Madison Avenue and plans to hire two employees, generating approximately $100,000 in annual payroll.
The City approved a $6,000 rental subsidy incentive.
Investing in the Covington Small Business Community
The Small Business Incentive Program is a component of the City’s broader economic development strategy to attract investment, support entrepreneurship, encourage property improvements, and strengthen neighborhood business districts.
In addition to incentive programs, the City provides business support through technical assistance, site selection assistance, development guidance, marketing partnerships, and connections to local, regional, and state resources.
“Small businesses are the backbone of Covington’s economy and the heart of our business districts,” said Interim Economic Development Director John Sadosky. “These projects demonstrate how strategic public investment can help leverage significant private investment, create jobs, activate vacant spaces and continue the momentum we are seeing throughout Covington.”
More information about the city’s economic development programs and resources is available here.