Incentive Lures Business, Jobs to Covington

A tax incentive helped Covington entice an investment firm that will bring 27 new jobs and more payroll tax revenue to the city.

It is the third time in the past three years the city has used a payroll tax rebate for a company to move into or expand in Covington, according to the city manager and the interim economic development director.

Renaissance Investment Management will relocate its new headquarters from Cincinnati to one of the RiverCenter office towers in Covington, said City Manager Larry Klein.

This will inject much needed revenue into the city at a time when new jobs have been scarce, he said.
"They are bringing new jobs into the city and filling a vacant space on the riverfront," Klein said. "They're the types of jobs that have high wages."

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