Borrowing from the manifesto that drives its mission, the newly released 2024 Impact Report from the Covington Department of Economic Development shows how doing things “The Cov…by The Cov…for The Cov” peaked in a year that saw the city stay on course. It’s really dynamic momentum.
(Click for full report)
“Since the beginning of 2020, we have announced the creation of nearly 5,000 fantastic new jobs and more than $270 million in equity investments at The Cov,” said Tom West, Director of Economic Development. “This momentum provides a solid foundation that we will use to attract jobs and investment for the Covington Central Riverfront redevelopment.”
the Impact Report 2024 Reflects a year set with strong numbers for job creation, retention and capital investment… A host of small business incentives… Pioneering workforce initiatives such as the Enzweiler Building Institute’s Building Craft School and the new Covington Academy of Heritage Trade… and major strides forward in transforming 23 acres in the new Central Riverfront neighborhood (aka the former IRS site), which will see Covington developers get a chance to create neighborhood projects.
Highlights from the 2024 report include:
• Approximately $44.3 million in private equity investments.
• Over $1 million in City Incentives raised $19 million in private investment. 19:01 ROI
• Incentives of more than 126 thousand dollars for small companies.
• 13 city organizing tape clips.
• 23 acres semi-ready for development.
“Of/by/for The Cov” language refers to the city’s use of local talent for projects and to create opportunities for Covington’s businesses and residents. For example, Covington companies and creative talent played integral roles in developing the 2024 Impact Report and associated marketing, creating a new brand, new website, and marketing tools that will power efforts to attract new business:
• Durham Brands Create new branding and marketing tools for the department, such as a business directory Simplifies the process of opening a company in Covington in 10 easy steps.
Over the past few years, Team West has marketed the city to businesses, investors and potential talent through various branding messages that promoted Covington’s historic spaces and quaint charm. This past May, the department unveiled its official brand narrative: “Covington Unapologetically” prides itself on the city’s unabashed embrace of its exoticism, diversity, and willingness to think big and push things forward.
• Systems Insight Designed the department’s new freelance website, thecovky.govto provide businesses, investors and developers with the information they need without much digging through unnecessary clutter.
“The new site is a tremendous resource and I encourage everyone to check it out,” said Susan Smith, director of hiring at Covington Business. “It is designed for businesses, developers, investors and brokers to easily find what they need when deciding where to invest, for example, a business owner can research available commercial properties to see what might be a good fit, or a developer wants to know what’s going on in the Covington Central neighborhood.” Riverfront. It’s all there, including the fly-by video.”
• AGNTInc., a strategic design studio, designed the division’s impact report and accompanying video (below).
• Sam Greenhill, a city-based photographer, brings Covington’s unique lens to capturing the faces and places in The Cove that appear throughout the report, on the website, and in marketing efforts. Expect to see Greenhill photography all over town. Many of his images will be displayed on a series of panels along part of the fencing around the Covington Central Riverfront neighborhood along 4th Street.
In the elite Impact Report are the companies and individuals who are “keeping it real” at The Cov, and the report highlights some of the best of the past year via the 2024 Authenti-CITY Awards.
Last year’s awards were held at Covington Yard this past May and saw the launch of the new Economic Development brand.
After fierce debates among City employees who nominated the companies, places, events, people, and organizations that “keep it real” at The Cov, the five winners emerged: Lost Art Press, Riverside Korean, Hierophany & Hedge, Anchor Grill, and Amy Kummler.
The 2023 Original City Awards will take place May 11, from 4 p.m. to 6 p.m. at West Clinton St. Alley – between Kung Food Amerasia and Train with Rocco. Nominations and discussion begin soon.
Covington City