Economic Development
Economic Development District
Lower Savannah is the designated regional Economic Development District (EDD) through the US Department of Commerce Economic Development Administration (EDA). It is the responsibility of the staff to keep local governments in the region eligible for financial assistance from EDA through the development and implementation of a Comprehensive Economic Development Strategy (CEDS). (Document is 24MB, may take a minute to load.)
Lower Savannahs Economic Development efforts support the development of projects that improve the regions economic competitiveness and create permanent full time jobs. Staff identifies priorities and funding sources for projects that provide improvements to infrastructure and education resources that will help the region to accommodate economic development projects. The primary economic development objectives of this strategy are: promote economic development and opportunity, foster effective transportation access, enhance and protect the environment, and balance resources through sound management of development. Staff also assists with funding applications and EDA grant administration.
For more information call the Planning Department at 803.649.7981.
Revolving Loan Fund Program
LSCOG has partnered with the Catawba Regional Council of Governments to assist small businesses in obtaining financing to help them grow and expand. The loan fund program is designed to be flexible and fill the gap between the financing available from traditional private sector lenders and the total financing need of the business. Terms and rates are tied to job creation.
By sharing risk, RLF involvement helps to limit the primary lenders risk. Extended terms offered by the RLF can help improve the borrowers cash flow, which will help improve the businesss chances for success.
For more information call the Executive Director at 803.649.7981.
Links
US Department of Commerce Economic Development Association
www.eda.gov
