Covington Plans 10-Year Payroll Incentive for GBS
City of CovingtonCity · Covington, KY- Disclosed value
- Up to approximately $279,753 over 10-year term
- From agenda
- Document date
- Apr 5, 2026
- Term
- January 1, 2027 – December 31, 2036
- Renews
- Free account
The 30-second brief
The City of Covington proposes an economic development Jobs Development Incentive agreement with Global Business Solutions, Inc. that would provide up to roughly $279,753 in payroll-based incentives over a 10‑year term from January 1, 2027 through December 31, 2036, contingent on the company meeting defined full‑time equivalent and taxable payroll targets in the city. The incentive is structured as a percentage refund of occupational license tax liability for the first five years, followed by a five‑year retention period without payments.
Global Business Solutions Inc holds this financial services contract with City of Covington. Its other public contracts on record include work for Housing Authority of Covington and Kentucky Economic Development Finance Authority | Commonwealth of Kentucky.
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Contract details
- Contract type
- Financial Services
- Amount
- Up to approximately $279,753 over 10-year term
- Document date
- April 5, 2026
- Term
- January 1, 2027 – December 31, 2036
- Renews
- On record
- Agency
- City of Covington
- Source document
- City of Covington Agenda Item Request April 2026 (Agenda)
Global Business Solutions Inc's other public contracts
More City of Covington contracts
Questions about this contract
Who was awarded the financial services contract by City of Covington?
Global Business Solutions Inc was awarded this financial services contract by City of Covington, as recorded on April 5, 2026. The contract value is Up to approximately $279,753 over 10-year term.
How much is the Global Business Solutions Inc contract with City of Covington worth?
The Global Business Solutions Inc contract with City of Covington is valued at Up to approximately $279,753 over 10-year term, covering financial services work.
What type of contract is this?
This is a Financial Services contract, documented as a agenda record.
Where was this contract approved?
This contract appears in City of Covington Agenda Item Request April 2026 (Agenda), dated April 5, 2026 from City of Covington. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Global Business Solutions Inc hold?
Global Business Solutions Inc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is City of Covington currently buying?
Explore City of Covington's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.