The City of Covington is rolling out changes to its Small Business Incentive Program designed to better support entrepreneurs and commercial property owners as they invest in the vitality of Covington’s business districts.
The updated incentives, which include increased award amounts and streamlined, user-friendly forms, are part of the City’s ongoing effort to make doing business in Covington easier and more sustainable.
Key Program Updates:
• Façade Improvement Forgivable Loan: The maximum forgivable loan amount for eligible exterior improvements has increased from $6,000 to $10,000.
• Historic Electric Signage Incentive: The maximum total reimbursement for approved historic signage projects has increased from $7,500 to $10,000, and the private match requirement has been reduced from 25% to 20%, making the program even more accessible.
• Rent Subsidy Incentive: This program helps reduce startup costs for small businesses by offering financial support toward rent.
Businesses applying for the Façade Improvement Forgivable Loan or the Historic Electric Signage Incentive must meet with the Historic Preservation Office by Friday, July 25 to qualify.
Herb & Thelma’s Tavern, which took advantage of the signage incentive, used the grant to restore its iconic 1960s Wiedemann neon sign.
“When we undertook the daunting task of restoring our 1960s Wiedemann Neon sign, which was in total disrepair, we never fully realized the cost involved in the project,” said Joe Fessler, owner of Herb & Thelma’s. “Neon is a lost art and expensive to do, if you can get it done at all. When the cost estimates came in, we were not sure we would be able to do it. Finding out about the City of Covington Electronic Sign Grant allowed us to do the restoration. The process was very simple, and all involved were very helpful. If it hadn’t been for the grant, the project may not have happened. Thankfully, it did, and the sign turned out better than ever imagined.”
In addition to these enhancements, all applications have been revamped to be easier to navigate, ensuring a more efficient experience for users.
Important Deadlines:
• Façade and Historic Electric Sign applicants must meet with the Historic Preservation Office by Friday, July 25.
• Completed applications for all programs must be submitted by Thursday, August 8.
For more information about these and other incentives, visit the Incentives & Resources page of the City’s Economic Development Department.
City of Covington