Economic Development Incentives

JOBS DEVELOPMENT INCENTIVE The jobs development incentive is designed to assist growing Covington businesses or to attract new businesses that will be making capital investments and creating jobs. It provides eligible existing and new businesses a payroll tax reimbursement for up to 10 years. RENT SUBSIDY INCENTIVE Part of the Small Business Program, the rent subsidy incentive is designed to attract new Covington businesses and help existing Covington businesses expand. It offers financial assistance in the form of reimbursement of rent payment of up to half of the business's monthly rent or $500.00 per month (whichever is less). FAÇADE IMPROVEMENT FORGIVABLE LOAN Part of the Small Business Program, the façade improvement incentive offers businesses a 50% matching forgivable loan (up to $6,000) to update their commercial building’s façade. It’s a great way to update lighting, windows, painting, signage, and other exterior building improvements visible from the street.