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Covington's Economic Development Department has published its 2024 Impact Report, highlighting key achievements and future prospects. Susan Smith, Covington's Business Attraction Manager, emphasized that "momentum builds on momentum” and described the period as "an exciting time for The Cov.”
A video accompanying the report, created by local design studio AGNT, showcases various accolades Covington has received, including being named a "Best Place to Live" by Money magazine, earning a Gold Award for Innovation in Economic Development, and five awards for the Covington Academy of Heritage Trades.
Smith noted the importance of Covington's story beyond accolades, highlighting its attractiveness as a place to live, work, and play. She shared an anecdote about a prospective resident from Atlanta inspired by a viral Street Craft video of the city's riverfront.
The report presents the following 2024 data: 514 new and retained jobs, $42.8 million in private investments, $136,000 in incentives for small businesses, 30 ribbon-cutting events, and 142 staff visits to companies.
Significant progress was made at the Covington Central Riverfront, with various development projects, including a $7 million development by Drees Homes, a $67.2 million mixed-use project by Silverman and Company, Inc., and an $8.45 million residential development by Funke Real Estate Group. State and federal funding were also secured for public infrastructure improvements.
The City remained focused on workforce development through initiatives like the Covington Academy of Heritage Trades, the Covington Works Program, and support for bilingual workforce initiatives in partnership with the Esperanza Latino Center.
Smith expressed gratitude to officials, staff, businesses, developers, partners, and residents for contributing to Covington's growth.
