The City of Covington’s Economic Development Department has released its 2025 Small Business Program Analysis, revealing what local, national, and even international observers have increasingly recognized: small businesses thrive in Covington.

Backed by years of data, the analysis highlights Covington’s ability to grow, attract, and retain small businesses at rates that dramatically outperform national norms. The City’s Small Business Incentive (SBI) Program , launched in 2017, continues to serve as a cornerstone of that success.

To date, the program has supported 177 small businesses, strengthened neighborhoods across the city, and generated an unprecedented $12.4 million in combined public–private investment — with private capital far outpacing the City’s contribution at a ratio of $

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