City Commissioners Offer Financial Benefits to Nine Local Businesses through Small Business Program
In a recent move to support local businesses and foster entrepreneurship, the City of Covington has approved incentives for nine businesses as part of its Small Business Program. The program, which began in 2017, has so far assisted 172 businesses or projects, contributing significantly to the city's economic growth and development.
Patrick Duffy, Covington's Business Retention and Expansion Manager, emphasised the Economic Development team's commitment to making it easy to do business in the city. The program provides support to businesses through three main categories of incentives: rent subsidies, facade grants, and sign grants.
One of the recipients of rent subsidies is Feel Something, LLC, which will use the $6,000 grant towards a retail store at 3706 Decoursey Ave., offering mid-century vintage furniture and décor from multiple vendors. Another recipient, Pilates on Pike, will receive the same amount for a cutting-edge Pilates studio at 33 Pike St., offering group and individual classes.
Facade grants are designed to help businesses repair and refurbish building exteriors, enhancing the city's aesthetic appeal. One such project is at 210 Pike St., where Pique Art Gallery will receive $6,000 in incentives for a facade makeover. The Covington Board of Commissioners has also approved a facade makeover project at 341-343 Pike St., attracting a new restaurant or bar tenant to the Mutter Gottes neighborhood.
Sign grants aid businesses in preserving unique cultural and architectural elements by restoring historic signage throughout the city. The Northern Kentucky Port Authority, dba SparkHaus, will receive $7,500 for the restoration of the 1950s Sims Furniture electric sign at 721-731 Madison Ave., reflecting its modern-day tenant, Northern Kentucky's entrepreneurial hub, located in the Westside neighbourhood.
The impact of these incentives is far-reaching. They contribute to sustained economic growth by supporting local businesses, create a supportive environment that encourages entrepreneurship and investment, enhance the city's visual appeal, and reflect the city's commitment to fostering a diverse and vibrant commercial community.
Business owners have expressed gratitude for the funds, stating that they will be impactful in growing their businesses. Meredith Frickey, owner of Pilates on Pike, praised the program's contribution to her rent, allowing her to allocate resources towards growing her business. Lindsey Whittle, co-owner of Pique Art Gallery, also expressed appreciation, stating that the facade makeover supported by the City will help the gallery's exterior reflect the vibrancy within.
The application process for the funds was deemed straightforward by Meredith Frickey, making it accessible for businesses to apply and benefit from the program. The total incentives awarded on Tuesday amount to $55,500, distributed among four facade projects, four rent subsidies, and a historic electric sign.
With the recent approval of these incentives, the trend of supporting local entrepreneurship and fostering a cooperative environment for small businesses is expected to continue, contributing to the ongoing economic growth and development of Covington.
- The City of Covington, through its Small Business Program, has provided assistance to 172 businesses or projects since its inception in 2017, with nine more businesses recently receiving incentives.
- Patrick Duffy, the Business Retention and Expansion Manager, emphasized the Economic Development team's commitment to facilitating business growth in Covington, offering incentives in three main categories: rent subsidies, facade grants, and sign grants.
- Feel Something, LLC, a mid-century vintage furniture retailer, received a $6,000 rent subsidy for a store at 3706 Decoursey Ave., while Pilates on Pike received the same amount for a cutting-edge Pilates studio at 33 Pike St.
- Pique Art Gallery will receive a facade makeover at 210 Pike St., with $6,000 in incentives, and a new restaurant or bar will be attracted to the Mutter Gottes neighborhood thanks to a facade makeover project approved at 341-343 Pike St.
- The Northern Kentucky Port Authority, dba SparkHaus, will receive $7,500 for the restoration of the 1950s Sims Furniture electric sign, reflecting the modern-day tenant, Northern Kentucky's entrepreneurial hub.
- The positive impact of these incentives extends beyond economic growth, creating an environment that encourages entrepreneurship, enhancing the city's visual appeal, and supporting a diverse and vibrant commercial community. Business owners have praised the program for its accessible application process and the impact the funds have on their businesses.
