COVINGTON, Ky. — 2025 was a record year for the City of Covington.
“We are on a roll in the City of Covington. People want to be here in our community; they want to live here, they want to work here, they want to play here,” said Covington Mayor Ron Washington. “2025 was the billion-dollar year.”
The $1 billion Washington is talking about is the projected combined annual payroll for Covington businesses. And a lot of that success comes from big-name companies deciding to expand their business to Covington.
WATCH: How Covington's business investments help them and the community
“We just announced that Marfo, an international company, they picked the City of Covington to do business,” Washington said. “We’re so excited that the Fisher Group, otherwise known as Fisher Homes, is moving their headquarters to downtown Covington.”
Washington says both companies are expected to bring hundreds of jobs to the city, but it’s not just big businesses coming in and making an impact.
Small businesses, like Dice on Draft, which opened in February, are also choosing Covington as their home.
“When you’re walking around here, you see almost nothing but small businesses, so even just being around here, you get the sense that they must value and cherish their small businesses,” said McKenzie Crist, the owner of Dice on Draft.
The City of Covington put over $4.3 million into small business incentives in 2025. Part of that money is going to help small businesses with their rent during their first year.
“The first year is kinda make or break, so even just that rent subsidy part, that small rent subsidy that we’re getting is a night or two of revenue that we’re kinda getting back," Crist said. “Honestly, I’m not sure if we would’ve gotten off the ground if it weren’t for all the help that we received.”
Washington said for the city, supporting small businesses is worth the investment because at the end, it’ll support the entire community.
“What the evidence has shown is that when we partner with those businesses for the first year, that they become very, very successful,” Washington said.
Washington added that the city hopes 2026 will be an even more successful year, with construction beginning on the Covington Central Riverfront and the recent acquisition of the Duro Bag facility.
