The
COG's Economic Development Department is an integral part of the BCD Region's
fiscal revitalization. It has taken part in many of the region's most
high-profile economic ventures. It's projects, which range from
equipment financing to asbestos removal, can be credited with the creation or
retention of thousands of jobs.
The department has three
primary tools to assist economic development: Economic Development
Administration funds; Community Development Block Grants; and it's own
Revolving Loan Fund.
The COG acts as a local
clearinghouse for Economic Development Administration programs. It
screens potential applicants, assists in the application process and
administers any funds that are awarded. Some of the area's most recent
beneficiaries are the Charleston Naval Base, Trident Technical College, and
the Charleston Area Convention Center Complex.
The Council of Governments' Economic Development Department is also involved
in applying for and distributing funds allocate d by the Community Development
Block Grant Program. The department picks up where the Council of
Government's Community Development Department stops by focusing on Community
Development Block Grant funds specifically set aside for enhancing employment
opportunities, especially for the poor. Like community development
projects, CDBG economic development projects must meet one of the three
national objectives. They must:
-
benefit
low-and-moderate income persons
-
aid in the prevention
or elimination of slums or blight
-
meet other urgent
needs that pose a serious threat to a community's health or welfare and
cannot be resolved through other financial means
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SERVICES
