COVINGTON, Ky. — The City of Covington released its 2023 economic impact report, and one thing it's highlighting is how the city helps small businesses.
"Covington went through about a 40 year period of decline from when we were the retail center of Northern Kentucky to the time when we had virtually no retail whatsoever," said Covington Mayor Joe Meyer. "And it's only in the past several years that the tide has turned."
It turned, in part, toward small business and it's something the newly released report is pointing towards.
The report said the City spent more than $76,000 on small business incentives, including rent subsidies and money to help improve the look of the businesses. These have helped 132 projects since 2017, according to the report.
Melyssa Mosier remembers how a rent subsidy helped her business during the pandemic.
"It was a really tough time for us, so they support us financially, but they spread our name and help bring business to us as well," she said.
Mosier and her sister own Grainwell, where they make and sell decor and awards for different clients across the country.
They've been open for almost a decade, so they've seen this transformation firsthand.
"When we first moved here there wasn't much happening, but we knew the plans the City of Covington had," Mosier said.
Those were plans for revitalization and building up small business.
To Meyer, this focus is key to keeping Covington's progress going.
"The big guys, they pay our taxes. The little guys, they create the environment that people find so wonderful about Covington," he said.
The report also discusses the planned development at the former IRS site and along the riverfront.
You can read the full report here.
