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 allocated 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