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 through the Covington Small Business Incentive Program.
On Tuesday, June 23, the Covington Board of Commissioners approved the fourth and final round of Fiscal Year 2026 Small Business Incentive Program funding, awarding $28,000 to support four projects across the city.
The latest awards include one façade improvement project and three rent subsidy incentives that will help activate commercial properties, support new business growth, and generate new jobs and payroll within Covington.
“These incentives are one of the many ways the City invests directly in the success of our small business community,” Mayor Ron Washington said. “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 rent subsidies, façade improvement grants, and historic electric sign incentives to eligible Covington businesses. The funding is intended 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 FY 2026 awards now stand at $105,729.
Funding approved during FY 2026 includes:
- Round 1: $36,800
- Round 2: $22,800
- Round 3: $18,129
- Round 4: $28,000
Following this round, $44,271 remains available in the Small Business Incentive Program fund for future application rounds.
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.
Fourth-Round Award Recipients
8 East 20th Street – Austinburg
A $110,000 renovation project will transform a vacant commercial building through significant exterior and interior improvements. Planned upgrades include new paint, lighting, signage, an awning, upper-floor window replacement, and reconstruction of the storefront 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 undertaken by property owner Joshua Landers.
Hubbard Strategic Partners – Mutter Gottes
Hubbard Strategic Partners is a veteran-owned boutique construction advisory firm specializing in owner’s representation, project management, and development consulting services. The company recently signed a two-year lease for previously vacant upper-floor office space at 118 W. Pike Street and plans to hire two full-time employees during the lease term, generating approximately $250,000 in new payroll.
The City approved a $6,000 rent subsidy incentive.
Lewis and Grant Auctions – Seminary Square
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 staff members, with plans to add at least three additional employees in the future. The business is expected to generate approximately $280,000 in annual payroll.
The City approved a $6,000 rent subsidy incentive.
Rivertown Vintage (ROVE) – Central Business District
ROVE is a new retail store specializing in premium, handpicked vintage clothing for women. The business represents the third active Covington retail venture 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 rent subsidy incentive.
Investing in Covington's Small Business Community
The Small Business Incentive Program is one 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 commercial districts,” John Sadosky, Acting Economic Development Director, said. “These projects demonstrate how strategic public investment can help leverage significant private investment, create jobs, activate vacant spaces, and continue the momentum we’re seeing throughout Covington.”
More information about the City’s Economic Development programs and resources is available here.