Business Investment Surges in Covington

At times the economic growth in Covington is so dizzying, it’s hard to keep up.  A nice problem to have.

The week of February 23rd was one of those times. Not one, not two, but three big announcements of firms moving their operations to Covington.

Two are moving in the RiverCenter Towers in the form of engineering firm Step CG expanding its Kenton County headquarters into new office space generating at least 83 jobs.  A day earlier a Pennsylvania IT firm said it was moving operations to the same complex. These new additions to the Corporex-owned buildings bring them closer to filling both towers, with only a few floors remaining vacant.

But perhaps the biggest news of the week that has been in the works for months, finally came to fruition. NKY’s largest law firm, DBL, broke the news it is bringing more than 70 jobs from what has been its Crestview Hills home to the Monarch Building near Fourth and Scott Streets. It’s an $11 million dollar investment.

And the biggest win is not just the number of jobs but the fact that each of these cases there are number of skilled jobs.  These higher paying jobs bring a healthy boost in the payroll tax coffers, at a time when Covington needs it most with the now shuttered IRS Building.  While there is no official count it is safe to say with all the projects in the Central Business District, Roebling Point and Mainstrasse, more than half a billion dollars has been invested in NKY’s largest city in the past eight years.

Written by Pat Frew, Executive Director, Covington Business Council

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